About 60,000 cash for clunkers applications have been rejected so far, CNN reports. As of Friday morning, 534,598 vouchers have been paid by the government, totaling $2,252,948,000. There are 76,775 vouchers that have been approved for payment, but haven’t been paid yet, totaling $322,319,500.
The CARS applications approved or paid totals 611,373, or $2,575,267,500, which means about 60,000 applications have been rejected. Why did the NHTSA reject so many voucher applications? CNN reports that government officials said there may have been a problem with the voucher application form, it may have been rejected on a technicality, or the consumer or dealer filled the form out wrong.
NHTSA officials will reportedly work with dealers to try and get as many of the 60,000 rejected applications approved. The rejected vouchers equal $250 million, which is money struggling dealerships desperately need.