When was cash for clunkers implemented

Last Thursday's announcement of a strong pace of sales in March also belies Edmunds' pessimistic trajectory. Indeed, over the seven months following the end of the CARS program in late August, the sales pace has averaged A final source of evidence on size and timing of the 'pull forward' effect comes directly from the people who purchased a vehicle under the program. According to a survey conducted by the Department of Transportation as part of the program , the average timeframe over which new car purchasers said they would have otherwise sold, traded in, or disposed of their old vehicle was 2.

A plausible interpretation of the available data, in fact, is that many of the CARS sales were to the kinds of thrifty people who can afford to buy a new car but normally wait until the old one is thoroughly worn out. Stimulating spending by such people is very nearly the best possible countercylical fiscal policy in an economy suffering from temporarily low aggregate demand.

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News Hub Archives. Contact: It's best to work with a tax advisor to see if it's worth it to donate your call or sell it, depending on the car itself. While the program did result in decreased carbon emissions, a Brookings Institution study suggests that there are more cost-effective policies for reducing emissions.

The program regulations required the traded-in vehicle to be crushed or shredded. Metal shredder waste has been found to contain hazardous waste. Government Accountability Office. Accessed Sept.

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Requirements for Cash for Clunkers. Pros and Cons of Cash for Clunkers.