Released: July 01, 2009

Cash for clunkers hits bump

Source: Eileen Ambrose, Baltimore Sun (Free Registration)

Those eager to take advantage of the cash for clunkers program today will need to idle those plans for a little longer.

The government program applies to new vehicles purchased starting today, according to the legislation. But that legislation was signed into law only last week, and government officials have until July 24 to finalize the details and get the program running.

Meanwhile, the National Automobile Dealers Association is advising its members to wait until regulations are in place before giving away federal cash incentives, or risk not getting reimbursed by Uncle Sam.

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