The Transportation Department has approved use of cash-for-clunkers funds for purchases of certain cars not yet on dealers lots, after consumers have complained about the low inventories of fuel efficient vehicles at many dealerships.
“Dealers and consumers who have reached a valid purchase and sale agreement on a vehicle already in the production pipeline will be able to work with the manufacturer to receive the documentation needed to qualify for the program,” the DOT told Detroit News. Essentially, a valid VIN number must exist in order to purchase the car under the program.
The overwhelming success of the program has spurred low inventories, and a cash shortage at the Transportation Department. More than 330,000 vehicles have been purchased under the program since its inception last month.
By: Stephen Calogera
-Source: Detroit News