Financial Accuracy

The House passed a bill last Friday so that the “cash for clunkers” program could continue on in its quest to help the economy. The program has been so successful that they have almost used up all of the $2 billion that was set aside as an incentive for car owners to trade in their older, less efficient cars.

Republicans are not too excited for the extension, in fact, many of them think it should be over and done with. Some feel that the incentive price for trading in a car should be lowered from $4,500 to around $2,000.

Many experts feel that even if the Senate agrees to pass the $2 billion dollar extension, the money would only last another week or two if demand continues to stay where it is.

So, if you are looking to get yourself into a new car, with a $4,500 gift from uncle sam to use towards your new car, you better get it fast. Time, and money are running out.