NORWALK - Motorists in southwestern Connecticut are down to their final days to take advantage of the ?Cash for Clunkers? program, as the Obama administration announced the promotion will end Monday night after burning through about $3 billion in just a month.
The owner of the Georgetown Subaru on Tindall Avenue in Norwalk says they've had success with the government's rebate program. Owner Paul Garavel says customers have been pouring in all day to either buy or pick up their newly purchased vehicles.
Many customers waited until the last minute to trade in their old vehicles and get up to $4,500 from the government toward a new fuel efficient vehicle.
The upside to the program, according to Garavel, is that Georgetown Subaru has had, ?approximately 40 sales? since the program began, ?and it's been good for our business." But Garavel says, ?Cash for Clunkers? is also a big drawback for dealerships as well. ?We've submitted so many claims and we've not got paid by the government for one of them yet."
Garavel says for every car he sells through the program, he's in essence loaning the government $4,500.
AP wire services contributed to this report.