As of 7:47 a.m. (Easter Time) this morning, dealers have submitted 635,186 Cash for Clunker claims for a total of $2.65 billion, the Department of Transportation said. When Transportation Secretary Ray LaHood set a deadline of Aug. 24 at 8:00 p.m. last week, he said that all dealers who submit their deals by the deadline will get paid.
The Obama administration did not say what it will do if the $3 billion limit for the program is exceeded.
The previous figures released by DOT on Friday morning were 489,269 claims submitted for $2.0 billion.
– By: Omar Rana