'Cash for Clunkers' Becomes Law
President Obama has signed into law the "cash for clunkers” program, now known as the Car Allowance Rebate System (CARS).
The program will not be fully operational until the National Highway Traffic Safety Administration (NHTSA) finalizes the rules on July 24. NADA strongly cautions dealers not to process any transactions before the rules of the program are established and the system to process cash-for-clunkers transactions is set up.
NADA strongly supported passage of the bill, and is working with NHTSA to implement a program that makes sense for both dealers and customers. NADA will be hosting a webinar in July for dealers prior to the publication of the final CARS program guidelines. Details are available here.
Until NHTSA finalizes the rules of the program, dealers are encouraged to consult the following for more information:
NADA's list of
frequently asked questions
for dealers and consumers
NHTSA’s official CARS Web site at cars.gov
NHTSA official hotline: 1 (866) 227-7891
The EPA's official Web site at fueleconomy.gov
The NADA program eligibility chart
Heavy Media Coverage Highlights the Tragedy of Dealership Closings
McLEAN, Va. – The issue of dealership closings has received an unprecedented amount of news coverage recently, according to a new report from NADA-TV. “In newspaper after newspaper and broadcast after broadcast, TV, radio and online, the dealer story is being heard everywhere,” said Dale Early, chairman of NADA's public affairs committee. Watch the video below.