"Cash for Clunkers" suspended as it nearly emptied Hoover dealership's lot

BIRMINGHAM, AL (WBRC) - Hoover Toyota is suspending its participation in "Cash for Clunkers." The dealership doesn't have enough vehicles to support the high demand for the program.

Hoover Toyota's new car lot is almost empty with  only thirty-two vehicles are on the lot. There are normally four to five hundred.

The general manager, Gordon Stewart, says the program accounts for sixty-five percent of the jump in sales at his business.

Another reason the dealership is suspending "Cash for Clunkers" is because of a cash flow problem. The government hasn't paid out the money it's promised.

"We've done 100 deals, we've been paid on 4 so far, and that is an excruciating financial situation to face," said Gordon Stewart.

Stewart says his business has paid out about a half million dollars through "Cash for Clunkers."
Dealerships across the country are facing the same problem. The federal government is working to reimburse car dealerships quicker.

Stewart expects another shipment of one hundred and fifty vehicles in about a week or so, and he says that's when things will get better.