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Thread: 'Clunkers' Program May End by Early September

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    'Clunkers' Program May End by Early September



    Clunkers' Program May End by Early September



    WASHINGTON -- The Obama administration said it will wind down its popular "cash for clunkers" incentive program on auto sales -- and may do so as soon as early September, according to one person familiar with the matter.

    Transportation Secretary Ray LaHood sought to reassure auto dealers Wednesday that they would be reimbursed for discounts given to customers under the program. With weeks-long delays in processing reimbursements, many dealers have feared the program's $3 billion funding would run out before they received the money owed them.

    LaHood said that within two days he would outline how the administration will end the program while ensuring all vouchers issued by dealers are reimbursed. "They're going to get their money," LaHood said.


    How are they all going to get thier money, when the money runs out? This has a potential to be devastating to the economy....What say you.


    Ohan F fox for this whole "subscribe now" crap. All of them who think they can now charge for this are still living in the dark ages.
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    Re: 'Clunkers' Program May End by Early September

    This gimmick was presumably suppose to boost the car industry, who is now getting hurt by not getting their stimulus money.
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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by Reverend_Hellh0und View Post
    How are they all going to get thier money, when the money runs out? This has a potential to be devastating to the economy....What say you.


    Ohan F fox for this whole "subscribe now" crap. All of them who think they can now charge for this are still living in the dark ages.
    From your linked article:

    The administration wants to avoid having dealers agree to sales after all the funds have been used up
    They are working to ensure that all the dealers get their money. What more do you want?

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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by Redress View Post
    From your linked article:



    They are working to ensure that all the dealers get their money. What more do you want?



    I gotta find it, there was a mention that if the money runs out and there are outstanding claims, it will take an act of congress to fund the outstanding claims.


    100's of dealers in ny have pulled out out of fear of not being paid.
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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by Redress View Post
    They are working to ensure that all the dealers get their money. What more do you want?
    Through Wednesday morning, dealers had submitted requests to be reimbursed for roughly 435,000 vouchers totaling more than $1.81 billion, though many of those hadn't yet been approved.
    So what happens to the dealer (and, for that matter, the customer), if the reimbursement is not approved? Does that void the sale? Does the customer get back a crushed clunker for use as living room decor? Does the dealer just eat the $4,500?

    Set aside for the moment whether the concept is sound or not. If this is how it's being implemented, the implementation sucks. Small wonder dealers are pulling out of the program--if they get a raft of rejections on the reimbursement vouchers they could bankrupt their businesses.

    And every dealer that pulls out is a decrease in the bump to the automotive industry.

    How much genius does it take to realize that for the program to garner maximum benefit it needed to be extremely paperwork light?

    (Not to mention the irony in killing trees to document a program designed in part to improve the nation's eco-friendliness! )

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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by Reverend_Hellh0und View Post
    I gotta find it, there was a mention that if the money runs out and there are outstanding claims, it will take an act of congress to fund the outstanding claims.


    100's of dealers in ny have pulled out out of fear of not being paid.
    I have seen that too, you are correct on that point, which is why care is being taken to ensure that it (hopefully) won't happen, as per the quoted section above.

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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by celticlord View Post
    So what happens to the dealer (and, for that matter, the customer), if the reimbursement is not approved? Does that void the sale? Does the customer get back a crushed clunker for use as living room decor? Does the dealer just eat the $4,500?

    Set aside for the moment whether the concept is sound or not. If this is how it's being implemented, the implementation sucks. Small wonder dealers are pulling out of the program--if they get a raft of rejections on the reimbursement vouchers they could bankrupt their businesses.

    And every dealer that pulls out is a decrease in the bump to the automotive industry.

    How much genius does it take to realize that for the program to garner maximum benefit it needed to be extremely paperwork light?

    (Not to mention the irony in killing trees to document a program designed in part to improve the nation's eco-friendliness! )
    I believe the dealer would end up eating it, or more likely suing the government.

    Implementation has been rough, but how many programs of this size do not have implementation issues when they start up? The problem in this case is that it is a big program, and short lived, and has a larger demand than anticipated, which are combining to have a nice synergistic effect. However, the government is hiring 1000 more temporary people to get the processing caught up. Solutions already in the works.

    I doubt it is actual much paperwork, I believe it is done mostly online.

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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by Redress View Post
    I believe the dealer would end up eating it, or more likely suing the government.
    Either one puts more than a couple dealers out of business--and that hurts the automotive industry in the longer term.

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    Re: 'Clunkers' Program May End by Early September

    Quote Originally Posted by celticlord View Post
    Either one puts more than a couple dealers out of business--and that hurts the automotive industry in the longer term.
    Not really. It would have a trivial effect on sales. However, it is merely speculation at best that it will happen.

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    Re: 'Clunkers' Program May End by Early September

    Clunkers Program Ends Monday Night

    "Clunker dumpers need to get busy. Transportation Secretary Ray LaHood announced Thursday that the popular cash for clunkers program will end at 8 p.m. Monday. LaHood said that the government is working toward "an orderly wind down" of the program after its success surprised even its biggest boosters.

    Consumers blew through the $1 billion set aside for the rebate program so quickly that Congress moved weeks ago to add an additional $2 billion to extend it through its original November deadline. But nearly 500,000 cars and trucks later, the cash for clunkers is poised to end."



    Sooner than that.
    Thank you

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