Cash for clunkers

Discussion in 'Current Events' started by Soaring, Jul 30, 2009.

  1. Soaring
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    Soaring Active Member

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    - Let's see, it's late, ill defined, no payback to dealers established and it's government run - oh, that's redundant.

    Cash for clunkers program performing precisely as expected. - Moe_Lane’s blog - RedState

    Cash for clunkers program performing precisely as expected.

    Which is to say, badly.
    Posted by Moe Lane (Profile)

    Thursday, July 30th at 9:30AM EDT


    The problem is that participating car dealers are currently on the hook for the trade-ins that they made in good faith, but have yet to see any of the deals signed off on by the National Highway Traffic Safety Administration. There are problems with the online system, you see.
    Of course there are. It’s a government program, remember?
    [Minnesota Auto Dealers Association vice president Scott] Lambert said the government has created a program that’s “so big and cumbersome that it can’t find a way to accept anything. We’re sending in good, reliable deals.”
    It’s nerve-racking for the dealers, he said, because they have given the customer $4,500 and now the dealers need to be reimbursed.

    Note that the program started on July 1, they only published the actual rules Friday, and they’re still working out how to get the dealers their money. If you’re shrugging over that, consider this: what’s essentially happening here is that car dealerships are giving $4,500 interest-free, unguaranteed loans to the federal government… and the determination of whether or not those loans get paid off is more or less going to be at the discretion of mid-level bureaucrats at the NHTSA. Even if they do repay every loan, it’s apparently going to take time for the system to smooth out; it’s an open question whether it’ll straighten out before the official end of the program in November. And the car dealerships - the only producers of goods in this particular equation, and the ones that the government is ostensibly trying to help - get all the headaches.

    I can’t improve on Glenn Reynold’s response to this: “Don’t worry, though — I’m sure they’ll do a better job with your prostate.” Says it all, really.

    Moe Lane


    We live in a society -
    "of the Government, by the Government, for the Government".
    We are now slaves to A GREEDY government
     
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  2. chanel
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    chanel Silver Member

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    It's called "subsidizing stupidity".
     
  3. MaggieMae
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    MaggieMae Reality bits

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    Those trades will still be shown as assets (income), but if dealers are that strapped for cash, they shouldn't be making deals before they've got the money.
     
  4. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    Hello. I'm from the government and I'm here to help you! Sort of makes you laugh, huh? Just like so many other things here of late, the government has absolutely no business in the car biz... New ones or clunkers.
     
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  5. MaggieMae
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    MaggieMae Reality bits

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    That program had two goals--give a boost to auto dealers who have overburdened lots full of new cars they can't sell and to get old gas hogs off the road. Not to worry, the program ends in December anyway.
     
  6. Oddball
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    Oddball BANNED Supporting Member

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    Subsidize it, you get more of it.

    Just heard a caller on on Jason Lewis claim that he got the full credit on a "clunker" that got @ 23 mpg.

    AP sources: Govt to suspend 'cash for clunkers' - Yahoo! Finance
     
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  7. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Well shit, my clunker is only worth $500 again.
     
  8. Annie
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    Annie Diamond Member

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    LOL, saw that! What a hoot. Popular things trashed, without memory.
     
  9. strollingbones
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    strollingbones Diamond Member

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    damn it...i was ready to trade the blazer for a new subbie....o well...i couldnt afford the payments anyways....now that was some damn poor planning
     
  10. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Wanna buy an '89 Silverado with bad rings and a good transmission? (It's a long bed)
     

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