"Cash for Clunkers" gets another $2 billion

By Trang Do - Bio | Email

HUNTSVILLE, AL (WAFF) - A week after the highly advertised "Cash for Clunkers" program launched, its funds are running on empty.

But Congress has stepped in to keep it rolling. Lawmakers have approved an additional $2 billion in funding.

The House of Representatives overwhelmingly approved the extra money, and many consumers who were on the fence are now running to the dealerships before the money runs out, again.

Huntsville resident Stan Guest knows a clunker when he sees one, in fact he owns one himself.

"No air-conditioning, it was hot. Clunkers are clunkers," Guest said.

He's got a second chance to trade in his clunker for cash towards a brand-new truck.

"The one billion apparently ran out and now they're approved another two billion bag of money, so I thought I'd come look while the money was still there," Guest said.

Despite the first round of funds running out so quickly, the government has guaranteed deals made from July 1st through this weekend will be honored.

Bobby White, general manager of Woody Anderson Ford said it'll take a while for dealerships to get back the rebate money, but he's not worried.

"We weren't concerned about not getting reimbursed, I think the government will make good on them," he said.

"Cash for Clunkers" has been a great boon for Woody Anderson, success they hope to continue through the weekend.

"We've done 50 so far, and we hope to do another 30 or 40 today and tomorrow," White said.

If the past is any indication, those interested need to act fast.

The Senate is expected to take up the issue of additional funding next week.

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