Cash for clunkers!

[sledge]

So then what you are saying is that net/net it will have very little environmental impact being that such a small % of cars (within the big picture) are being traded in. So if the motives aren't "green" then what is the gov'ts motive? To stimulate the auto industry? Why does the gov't get to pick which industry to stimulate? Give me $4500 towards a new boat and then we will be talking!!!

Just speaking theoretically here....but let's say you just invested $40Billion in a business or two. Somebody says throw another Billion out there as a rebate, and maybe you'll start seeing business pick up across the board. Ya' know, help "stimulate" some return on your original investment.

So that "could" be the gov't's motive, and it certainly justifies which industry they choose to support.

 

[Ratickle]

They chose to do this for the auto industry because they put all that money into GMC and Chrysler. What they didn't count on, even though between those two they have over 1/4 of the old sales volume. It looks like so far less than 15% are from those two manufactuers. It's a nice handout of our dollars to overseas company's again.:boxing_smiley:

So, add more dollars, and now let's push GMAC into doing leases with the governments subsidy for only GM and Chrysler vehicles, and let's put GM's on Ebay to sell.

After all, they have to show that it was a good idea giving those two companies $80 billion of the tax payers future and they must outperform companies like Ford who did it without their help........:ack2:

Azz Wipes.....:boxing_smiley:

 

[Big Time]

Just speaking theoretically here....

:sifone:

 

[Blue Oval]

Explain to me how this works. "Clunker" comes in...who decides how much of a credit they get (between 3500 and 4500)? So you as a dealer credit the purchaser for, for the sake of argument, $4500 towards the purchase of a new vehicle. When does the dealership receive that $4500 from the gov't? What is invloved in the process?

The gov't web page is the rebate bible,it tells us how much we get,getting payment is the million dollar question.We reg. our dealerships on line with fin. info,we are to get paid by money transfer to our bank.Talked to a friend today with Subaru dealership,he was paid for 1 deal out of 27.

 

[Big Time]

So that "could" be the gov't's motive, and it certainly justifies which industry they choose to support.

Yeah, and they play it off like the program is such a success and is making the planet a better place and stimulating the economy and look at all the good things we are doing...blah, blah, blah.

 

[Big Time]

The gov't web page is the rebate bible,it tells us how much we get,getting payment is the million dollar question.We reg. our dealerships on line with fin. info,we are to get paid by money transfer to our bank.Talked to a friend today with Subaru dealership,he was paid for 1 deal out of 27.

Well, if you hear anymore let us know. It will be interesting to see how well this is handled. If they can't get a couple of rebates out on a few cars, how the hell will the new healthcare reforms pan out? So far from this thread it doesn't sound like the dealers are getting much help (or answers) from the gov't and it is scary what else they have planned, especially when they can't get this right.

 

[VtSteve]

I know that Ford gave dealers an excellent FordDirect.com site for navigating the process. Apparently it was working, sales of the Focus and the Mexico-built Fusion seemed pretty brisk. Hyundai actually was fronting cash for the rebate to dealers. My bro does work for a couple of Ford dealers, I'll have to ask what their experiences have been. If free market rules apply, it would appear that many cars on the lot were still $4,500 overpriced.

Would have been interesting to see everyone's attitude if most of the large banks, brokerages, and the auto companies had been simply allowed to perish. Unfortunately, it looks like things are stabilizing to the point where companies are starting to look towards the future recovery.

 

[JupiterSunsation]

Some of the cars I saw today on the lot listed as "clunkers" looked to be worth the $4500 max. value. I saw an S Class Mercedes, a Van Den Plas Jaguar sedan, a nice 92 K5 Full Size Blazer........I think the media got ahold of these people and they just traded a nice car for the rebate. There were a lot of junk cars on the lot as well with body damage, cracked glass etc. Those seemed to be a good deal for the consumer!

 

[Blue Oval]

Latest news-Gov't to tax the dealers for income on each clunker rebate they get.

 

[Bobcat]

Latest news-Gov't to tax the dealers for income on each clunker rebate they get.

ah, the catch (well, one of many)

 

[Blue Oval]

Ok I'll quit b*tching now,I believe in being positive, thanks for letting me vent,time to get on with life.I'll let all of you know when I get paid.Great night on the Lake last night,thought the photo will help us all think positive!

 

[VtSteve]

My brother mirrors some of the no pay comments. Says some paid, but not a smooth process.

I waould assume that the $3,500 or $4,500 that is given to dealers as part of the sale would be taxable as income. It would normally be included as part of the sale right? Same way as they take a trade in and sell it, or send it to the wholesalers.

 

[getchasum111]

We have 11 new cars left on a toyota/scion lot....I have been off since wed.

 

[Ratickle]

Have any of you received your checks from the Feds yet?

 

[Carguy]

We have done about 155 of these deals. paid for 2, have about 7 that are ready for payment, the rest are under review. Once the status changed to ready for payment we had our money in 4 days. Paper work sucks. I have two full time people handling submissions. I'll admit we did see alot of people that might not have bought cars.
Shame is Im blowing up the cars that are a major source of income for me. Wholesale as well as retail. Some are really worthless.

 

[Blue Oval]

Yep!When we all are paid we can close the doors for a day and have a party,Maybe by Christmas we may be able to do that!

 

[Expensive Date]

http://www.bloomberg.com/apps/news?pid=20601087&sid=alcugqZEbv9k



Who would have thought its not going smoothly

 

[Blue Oval]

No doe yet! Only rejects for copies from their web page I had to scan,but I'am not bit*hing!

 

[Carguy]

Paid for two more today once it reads pending payment lead time is two days till money in the bank. Good luck

 

[Blue Oval]

good deal,I still have faith in my goverment!