Cash for clunkers
December 10th, 2009
The cash for clunkers scheme initiate by the US govt. has picked up a lot of speed in the recent times and there are confirmed reports that over 250,000 vehicles have been sold under the banner of the scheme.
Aimed at bolstering the falling sales of car companies this scheme has seen many Americans making the most benefit of it by purchasing new car models for a credit facility of a fixed amount as decided by the govt.
However the debate rages as to whether all the deals that have been made will be cleared by the govt. as it has been said that due to the amounting workload related to documentation and scrutinizing of documents it will take a while before normalcy is restored and the confirmation process begins.
Thus to bring about economic stability the Obama Govt. is doing sufficiently enough to beat the odds reckoned with a falling market section.
Posted in Global Issues
Cash for clunkers did not benefit the enivornment or auto makers. It just destroyed 690,000 cars that ran. As a result, used car prices have spiked and car donations have declined.
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