No More Cash for Clunkers; Program to End August 24

The hugely successful "Cash for Clunkers" program will be terminated at 8pm on Monday, August 24. The government made the announcement on Thursday.

Dealers are predicting a rush to showrooms over the weekend, as customers seek to trade in their clunkers for a $3,500 to $4,5000 government rebate on a newer, more fuel-efficient model.

While dealers may see a rush this weekend, they do not need to worry that the rebate money will run out. Transportation Secretary Ray LaHood promised that dealers will get their front money: "They're gonna get paid; we have the money to provide for them," he said.

The Transportation Department has projected that there "is enough money to continue accepting submissions until the Monday deadline."