Cash for clunkers

[Soaring]

- 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

 

[chanel]

It's called "subsidizing stupidity".

 

[MaggieMae]

- 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

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.

 

[Big Black Dog]

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.

 

[MaggieMae]

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.

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.

 

[Oddball]

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.

WASHINGTON (AP) -- The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.

The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly. Rae Tyson, a spokesman for the National Highway Traffic Safety Administration, which administers the program, declined comment.

AP sources: Govt to suspend 'cash for clunkers' - Yahoo! Finance

 

[alan1]

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.

WASHINGTON (AP) -- The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.

The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly. Rae Tyson, a spokesman for the National Highway Traffic Safety Administration, which administers the program, declined comment.

AP sources: Govt to suspend 'cash for clunkers' - Yahoo! Finance

Well shit, my clunker is only worth $500 again.

 

[Annie]

LOL, saw that! What a hoot. Popular things trashed, without memory.

 

[strollingbones]

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

 

[alan1]

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

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

 

[pete]

Hahahahahahahahaha ...

 

[Midnight Marauder]

Get ready for the next big bailout -- 100,000 or so lackeys who traded in their perfectly good vehicle in "Cash for Clunkers," who signed a loan they cannot afford, cannot make the payments and have the Repo man breathing down their necks. Dems will scream "predatory racist lending!!!" and Obama will try to get Congress to send them another few billion for that, (Repo prevention) and re-start c4c with another 20 billion since, as they will say, "it was so successful."

Meanwhile the lenders will get hosed....

Watch and see....

 

[pete]

What needs to be done is terminate his administration

Impeach

 

[pete]

Get ready for the next big bailout -- 100,000 or so lackeys who traded in their perfectly good vehicle in "Cash for Clunkers," who signed a loan they cannot afford, cannot make the payments and have the Repo man breathing down their necks. Dems will scream "predatory racist lending!!!" and Obama will try to get Congress to send them another few billion for that, (Repo prevention) and re-start c4c with another 20 billion since, as they will say, "it was so successful."

Watch and see....

What about all the money Government Motors and others spent on commercials we have been watching ... un fucking real

 

[Oddball]

Get ready for the next big bailout -- 100,000 or so lackeys who traded in their perfectly good vehicle in "Cash for Clunkers," who signed a loan they cannot afford, cannot make the payments and have the Repo man breathing down their necks. Dems will scream "predatory racist lending!!!" and Obama will try to get Congress to send them another few billion for that, (Repo prevention) and re-start c4c with another 20 billion since, as they will say, "it was so successful."

Meanwhile the lenders will get hosed....

Watch and see....

A dealer called the JL show today with that exact point.

 

[Dr.House]

LOL

The program is too successful so it must be terminated...

Only in 0bamaland....

 

[Meister]

Sounds like this plan was about as thought out as the healthcare bill.

But, just what do we expect from our government?

 

[Midnight Marauder]

Get ready for the next big bailout -- 100,000 or so lackeys who traded in their perfectly good vehicle in "Cash for Clunkers," who signed a loan they cannot afford, cannot make the payments and have the Repo man breathing down their necks. Dems will scream "predatory racist lending!!!" and Obama will try to get Congress to send them another few billion for that, (Repo prevention) and re-start c4c with another 20 billion since, as they will say, "it was so successful."

Watch and see....

What about all the money Government Motors and others spent on commercials we have been watching ... un fucking real

Gubmint motors and Chrysler both were able to somehow afford massive media buys while in "bankruptcy." All on our dime I suspect.

Meanwhile, GM's latest model is being test marketed:

Obamacar!

Incredibly "green," this car runs on bullshit, hot air and broken promises. It has three wheels that speed the vehicle through tight left turns. It comes complete with two Teleprompters programmed to help the occupants remember the idiotic talking points of the left.

Built by union labor with full benefits, it's base price is only $83,000, but low government financing is available for any payment requested.

Subsidized insurance available!

Loan guarantees and special payment plans for "Undocumented workers."

Non-union American citizens must pay full price of course, plus all taxes.

The transparent canopy reveals the smiles still on the faces of all the happy Librul owners.

 

[Dr.House]

Sounds like this plan was about as thought out as the healthcare bill.

But, just what do we expect from our government?

Was probably a 1000 page document...

Who has time to read that?..

 

[chanel]

I don't understand. Is it over or not? Today is Thursday.