'Cash for clunkers' rules are released, sparking a rush

Jul 24th, 2009 - Los Angeles Times

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Clunkermania officially began today.

The federal government finally released the rules that dealers and their customers have to follow to participate in the much-discussed "cash for clunkers" program, which can provide consumers with up to $4,500 in cash when they trade in an older vehicle and buy a newer, more fuel-efficient model from a participating dealer.

The law creating the $1-billion program went into effect July 1, but many dealers were reluctant to participate until they got a look at the rules. The arrival of the 100-plus-page document this morning sparked a registration rush that overwhelmed the government's computers, resulting in waits of two hours or more, the National Automobile Dealers Assn. reported.

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