The VN Channel

Now that the Cash for Clunkers program is out there and people are constantly taking advantage of it – how do you know for sure that your clunker is going to qualify and the car that you are looking at is going to qualify?  To be honest, I have heard quite a few horror stories about people bringing their clunkers all the way up to the dealer and then getting rejected because ‘apparently’ their clunker does not qualify for the program.

This is where you need to get online and do your research.  The government is a fickle thing, we all know that and honestly, you need to make sure that your clunker actually qualifies and the car that you are in the market for actually is in the program and you can get it – there are a lot of different restrictions and you need to make sure that you are within them.

Cash for Clunkers is a fantastic program, however you just need to make sure that you are within the program and can handle all of the restrictions!

Survival is the name of the game during tough economic times, and it will take GM around $16.6 Billion more government aid to make it through. Without the funding, GM may drain its cash deposits by March.

The automaker is set to cut 47000 jobs from its global employee base. Five plants in the United States are also scheduled for shutdown by 2012.

GM is also contemplating on ending the Saturn brand when units for its current models are produced by 2012.

The automaker is facing a loan and line of credit amounting to $30 billion based on a report submitted to the US Treasury Department.

GM is requesting for an additional $4.6 billion funding to complete the aid that it received last December 2008. The company also needs $4.5 billion by 2011 to pay for some revolving credit line. An additional $7.5 billion will be needed to help the company as it anticipates worsening sales.

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