Cash For Clunkers : Supended : No More Cash

[greylar]

Originally Posted by TKY

... lets hope this fuels a long term positive trend. --TK

The experience with my business is that coupons and discounts create a rush of orders with a bigger than expected drop off in sales after the promotion ends. It does bring some extra people in but it also speeds up the buying process for those who were planning on buying later.

I wouldn't be surprised to see a drop in sales for Aug/Sept. Once everyone has a new car sales can't continue to go up.

Also on the calculations of cash, I suspect that they blew out at least 2 billion in cash this week. Even our small dealers here have 20 CFC deals. So if the average is 25 deals x 16,000 dealers (see link below) x 4500 that equals 1.8 billion!!!

Edit: I had to take out the link because they changed the story... At any rate NADA was reporting 16,000 dealers participating.

G

[Jabber]

Originally Posted by itndave

Everyone remain calm. Congress has processed 250 million in cash for clunkers and the White House has just released a statement as of 7AM Pacific Time, the program will continue until further notice.

Your 250 million figure could very well be correct on the amount that has been funded already. A quick straw poll (phpone calls trying to find out if anyone has been funded on anything yet) of a few friends in the business gives me 11 dealers that have not been funded on a single deal yet. To the tune of roughly 25 million. So, just 11 dealers, out of 21,500 have 10% of what has already been funded waiting to get paid. The biggest reason is that we can't get through to the gov site to save all the docs that we upload. It keeps crashing.

Dianne, has your dealership actually gotten paid on even one deal yet? For that matter, has any dealer gotten funded yet? Every one we have submitted has been rejected. They have been rejecting the paperwork saying it is incorrect, even though we have exactly what they asked for. One of the rejections said the back of the title was incorrect. How in the heck can the back of the title be incorrect? It was copied, marked as junk, scanned in according to the program rules, and submitted. I'm not sure what else I can do on that one but re-submit it and pray.

[DeanFL]

Originally Posted by Jabber

The biggest reason is that we can't get through to the gov site to save all the docs that we upload. It keeps crashing.

Every one we have submitted has been rejected. They have been rejecting the paperwork saying it is incorrect, even though we have exactly what they asked for. One of the rejections said the back of the title was incorrect. How in the heck can the back of the title be incorrect? It was copied, marked as junk, scanned in according to the program rules, and submitted. I'm not sure what else I can do on that one but re-submit it and pray.

Wow. Now this is very odd. A Government program not working as planned? Who would have thought? And with all the Congressional discussions prior to passing; of course with no special interest groups taking part...

Well at least they got the program's timeframe right. Right? A scheduled 3 month program running out in 4 days. And now refunded with more future tax dollars.

I'd guess this is a valid gvt program in many respects. But here we go again - hoping our kids and grandkids have deep pockets.

[TomInOregon]

Originally Posted by TKY

i hope press secretary Gibbs is correct that all applications to date will be honored.

This P****s me off to no end. Unless he is planning to pay out of his own pocket, he is promising more money without approval from congress. Don't get me wrong, I hope more money is approved and I hope the program is expanded in the future to allow more people to participate. I just don't like the idea of someone talking out of their a$$ committing other people's money before it has been approved through the proper channels.

[greylar]

Originally Posted by Jabber

Your 250 million figure could very well be correct on the amount that has been funded already.

That may be the case, but I stand by my suggestion that there may be 2 billion dollars in CFC deals in the pipeline.

G

[eglmainz]

Originally Posted by jay_man2

There are only three or four other threads on this already. Here are two:

Cash For Clunkers : Supended : No More Cash

No more Cash 4 Clunkers after Midnight 7/30 - they are outta $.

Jay_man2,

The first link just points back to this very thread...?

Breaking news, Cash For Clunkers is BACK!!! (9:24 AM EST per MSNBC)

[plow]

Yoo Hoo! Money!

I am sitting next to a Bank Certified Check in the amount of $ 19, 054.48 made out to the Dealer.

Prius 2 basic at MSRP with only stupid add ons of white color surcharge and the fully rip off floor mats.

Our car with free pinstriping and free dumb back PRIUS applique has been sitting on the lot now for over a week. They have certified my original clunker title as JUNK... and have hopefully submitted that.


Having no title, I suspect my registration and insurance are no longer valid yet I drive the clunker about until someone calls.

Then again if this deal happens I get free oil changes, tires and batteries for life of the car and other small stuff. Also got a nice scrapping fee, no state sales tax... so what me worry?

LOL!