Cash for Clunkers Rolls to a Stop, Dealers Scramble to Get Paperwork In Ontime

The deadline for auto dealers to get their Cash For Clunkers applications in on time was extended from 8:00 tonight to noon tomorrow.

Accountants and comptrollers have been working at fever pitch for the last week trying to get the cumbersome paperwork in on time.

Alex Perdikis is the Executive Vice President of Jim Koons Automotive. "For the last week or so we have had people getting in at 7 a.m. and leaving at midnight, consistently, at all our locations around the DC area," says Perdikis.

Perdikis says not only have people been streaming in to cash in on the program, but the paperwork and red tape required have been nightmarish. "The program has been awesome--the best stimulus I've ever seen, it's just probably one of the worst administered programs I've ever seen."

Dealers must submit the paperwork online in order for them to get the rebate money that they have already loaned out to customers.

The website has been intermittently down for the past several weeks--today it was down for over an hour. The National Automobile Dealers Association is requesting additional time to file.

Perdikis says he, like all dealers, has no idea when he will get paid back the 5 million dollars he is currently owed by the Federal government.

Sabri Ben-Achour reports..