Cash for Clunkers in Real Numbers

As of last Friday, there have been 358,000 clunkers submitted to the federal government by dealers. With 4 out of 5 applications being rejected and a $4000 average being fronted by dealers, there is $1.146 Billion hanging in limbo. That's billion with a capital "B"!

It remains to be seen just how many applications will actually get approved but this could be crippling for an already struggling US dealer base.