National Automobile Dealers Association wants an orderly closure of program and again expresses concerns that funds are running out.
NEW YORK (CNNMoney.com) -- The National Automobile Dealers Association is urging the federal government to begin shutting down the Cash for Clunkers program immediately.
In a statement released Wednesday evening, NADA said that, given the rapid pace at which deals are being done, it will be difficult to say when the program's funds may run out.
Dealers have complained of problems and delays in getting payments due to them under the program. But Transportation Secretary Ray LaHood said earlier Wednesday that all dealers would be reimbursed.
"They're gong to get their money," LaHood said during a press conference. "We have the money to provide to them. We have put an enormous number of people on the task of processing the paperwork. There will be no car dealer that won't be reimbursed."
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This program had been a disaster from the start and will be paid by generations to come. The Clunker House program starts next month, followed by the Clunker Senior Program.
ReplyDeleteNobody's got a gun to the dealer's head to participate in this program. They should quit crying about it.
ReplyDeleteThe new car dealers whine when they're not selling cars and then when a program comes along that benefits THEM and only THEM, they whine about that too.
ReplyDeleteGive me a break!
They already did clunker housing,remember?A few years ago when anyone breathing could get a mortgage.See how it turned out?
ReplyDeleteThe dealers have a valid concern. Government created and promoted this with the belief it was sufficiently funded. In usual fashion, it ended up costing more than they estimated. Now, with an additional $2B of funding, the Government STILL has no idea if there is sufficient funding because their ability to track and process their monetary obligations to the dealers is broken. The Program may have run out of funds last week and the Government has no clue.
ReplyDeleteAnd some people trust the Government to manage their healthcare?
Amazing. Obama must have read my previous post.
ReplyDelete"WASHINGTON -- The Obama administration plans to end the popular $3 billion Cash for Clunkers program on Monday at 8 p.m. ET.
Two congressional officials familiar with the plan say the Transportation Department will wind down the program that offers car buyers rebates of $3,500 or $4,500 for trading in older vehicles for new, more fuel-efficient models. The officials spoke on condition of anonymity because they were not authorized to speak publicly about the plan.
The Obama administration was set to announce details on Thursday."
If you were planning to take advantage of this, you better get moving.