GM to give dealers cash advances on 'clunkers' deals


Faced with weeks-long reimbursements for rebates from the federal government's "cash for clunkers" program, GM is stepping in and agreeing to advance dealers amounts due them until Uncle Sam can get the lead out and get the claims processed.

In doing so, GM said, dealers will have the cash on hand to keep their businesses running as new car buyers continue to stream into showrooms to take advantage of incentives of up to $4,500 to turn in a gas guzzling vehicle toward the purchase of new one.

Originally published