by Calculated Risk on 7/25/2009 12:45:00 AM

From the LA Times: 'Cash for clunkers' rules are released, sparking a rush

The law creating the $1-billion program went into effect July 1, but many dealers were reluctant to participate until they got a look at the rules. The arrival of the 100-plus-page document Friday morning sparked a registration rush that overwhelmed the government's computers, resulting in waits of two hours or more, the National Automobile Dealers Assn. reported.

The program is also exciting a fair amount of interest among consumers. Online auto information provider Edmunds.com said its traffic has been at record levels in recent weeks. Part of that comes from what may be the beginnings of a rebound in car sales, but the clunkers program is helping.

The article mentions several rules to avoid fraud, and a requirement that the "clunker" be crushed. This should give a some boost to auto sales over the next few months.