Slow reimbursement drives dealers out of "Cash for Clunkers"

08/20/2009 | Washington Post, The

Some auto dealers are withdrawing from "Cash for Clunkers," saying they can no longer afford to advance money to buyers, then wait for reimbursement from the U.S. government. "We're sitting with $1 million out," said Jim Bee, general manager of Toyota of Bowie. The dealership has accepted 150 to 160 clunkers and has received no money from the government, he said.

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