The dealers association lawyers asked the govt for a guarantee that all submitted valid claims will be paid. The department of energy would not provide a guarantee. They stated they will cut off applications once all allocated money is gone.
That being said the number of claims in processing is huge, hundreds of thousands of claims with 90%+ of the money allocated. So anyone putting a claim in now is basically taking a huge $4500 bet that the govt has an completely accurate count of number of claims and the amount of money remaining.
If the govt makes a mistake then the dealer ends up eating it.
If I ran a dealership right now I would cut off the program early. That is fear not greed talking.
The profit on a new $20K vehicle is about $2K-$3K so losing $4500 not only wipes out all the profit but it means the dealer sold the car at a loss.
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