Cash for Clunkers success continues at salvage yards in the east

Parts from trade-ins must be sold within 6 months

By: Arthur Mondale | WNCT-On Your Side
Published: August 24, 2009

If you haven't taken advantage of the Cash for Clunkers program, you have until 8pm tonight.
But for sellers, the deadline for car dealers to file applications for rebates has been extended until noon Tuesday. Transportation officials believe Cash for Clunkers helped sell more than 700,000 cars.
Industry experts expect sales to drop to pre-Clunker levels for the next year.

While Cash for Clunkers brought a boom to dealerships in the east, the programs success is trickling down to salvage and scrap yards. Even if you missed your chance to save big at the local dealerships--salvage yards could be you're next stop to catch a bargain.
"It kind of started with a bang and it's going to end with one also,” said Michael Martin of Greenville’s Foss Auto Recycling.
Martin says before Cash for Clunkers, the lot he runs took in in about 12 vehicles per week---today, it's roughly 12 vehicles a day. That's thanks to trade-ins from area dealerships.
"The selection of parts available has increased---both in amount and the quality,” Martin said. “You can still benefit because if you need to keep your clunker running come see us."
Lines of customers agree, they say before the program customers spent a lot of time digging through the piles of auto rubble.
And Martin adds no vehicle goes unturned, "Window regulators, the motors that make the window go up and down. Glass seems to be popular.”
But do they make money? Martin says it' will take time for lots like his to see the significant profits. But he's optimistic.
There's one catch to getting parts from the traded-in clunkers. The law requires that parts from any of the program's trade-ins be sold within 6 months of hitting the yard. The parts must be destroyed after that.