- Sep 22, 2009
REPORT: 90% of Cash for Clunkers claims have been paid
Getting down to the nitty and the gritty, $2.3 billion -- representing 534,598 claims -- has been paid out. Checks have been written, cashed, done. Leaving about $322,000,000 (76,775 claims) approved but not yet paid. Some of the unpaid claims were initially rejected by various reasons but were then resubmitted and then approved. Still, the Department of Transportation (DoT) has one week to pay out more than $615 million to hit Secretary LaHood's September 30 deadline. All in all 681,426 Cash 4 Clunkers deals transpired totaling nearly $3 billion in payouts.
[Source: Automotive News - Sub. Req. | Image Source: Justin Sullivan/Getty]