By Emory Bryan, The News On 6
TULSA, OK -- The Cash for Clunkers programs is running on empty. The government says the first billion dollars has already been spent. But, $2 billion more could be coming and Tulsa-area dealers say that will help drive up sales.
The government subsidy worked to get people buying cars again. At Don Carlton Honda, they sold 11 cars just on Friday. And, with work, the program will be extended at least through Sunday; they expect to sell many more.
The front lot at Don Carlton is full of new Hondas. The back lot is full of old cars. Ones the government considers clunkers. Every one of them, regardless of condition, was worth at least $3,500.
Sami Kahlaf with Don Carlton expects business to get stronger over the weekend and last until the clunkers program runs out of money for good.
While at first the worry was the program would run out of money, now the concern for dealers is running out of cars. That's because many manufacturers have cut back production and it could take them a couple of months to catch up.
Under the clunkers program, a 1987 Oldsmobile was worth $4,500 at trade in at Keystone Chevrolet. That was enough for Pat Leonard of Sand Springs, who made a deal Friday for a new car.
With the program continued through the weekend, and possibly longer if Congress approves the money, Keystone Chevrolet expects more people who were on the fence, to make a deal.