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Leaky

Cash For Clunkers

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This from the front page of the Strib today. Could our King have set up a program for the masses that they weren't ready for? Is this a precurser to what will happen with health care? Have any of you tried to take advantage of this program yet?

Cash for Clunkers: Federal Rebate Revs Up Buyers.

The Cash for Clunkers program has buyers ready to spend, but dealers are running into problems getting rebates approved.

By SUZANNE ZIEGLER, Star Tribune

Car dealers across the Twin Cities area reported busy showrooms and low inventories Tuesday as customers scrambled to unload their old gas guzzlers and save $3,500 or $4,500 on a new, more fuel-efficient car under the federal government's $1 billion Cash for Clunkers program.

At Morrie's Minnetonka Ford/Lincoln/Mercury, the receptionist started a waiting list for the finance department, the first time she ever had to do so. One dealership in Coon Rapids ran out of two of the eligible cars, the Jeep Patriot and Compass.

But dealers reported problems with the government's online system to get the transactions approved by the National Highway Traffic Safety Administration (NHTSA), which is running the program.

Scott Lambert, vice president of the Minnesota Auto Dealers Association, said he was "astounded" to learn at a meeting Tuesday representing about 150 Minnesota dealers that not one has had a deal approved.

"We had dealers representing 1,500 to 2,000 transactions," he said. "We asked how many had a deal approved yet, and not one hand went up."

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.

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The bigger issue here....why are my tax dollars being used to pay $4500 for someone else's new car???

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That's a good point. I'll use the term that the spenders love to use. It's a 1 billion dollar "investment" that will be paid back by retaining jobs in the auto industry and spurn economic growth.

I wish my Sonata with 120,000 miles qualified as the tranny is about shot. But then again, I just got my S/S statement and saw that I've contributed to our society every single year since 1975 and have yet been the beneficiary of a single program.

Oh Well.

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The wife has an Altima with 186,000 miles on it that we're looking to replace. No free $4500 for us either.

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What's kinda funny is that many will see this as a great opportunity to "Save" money by buying a NEW car. Ha, that is like buying something just because it is on sale. smile

For those who are indeed in the market, or a bad tranny, etc., makes sense IF you are willing and ABLE to take a hit with payments. I just don't get it with the folks (not pointing any fingers at anybody) who just don't get the big picture on their personal finance, and see that having new car payments is a good thing... wink

for all those that do go get new cars and use this, I say "thank you" - and "you are welcome" wink

Signed,

Happy-in-My-Clunker smile

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I'm with you Box. Just spent 1,000 on my air conditioning figuring I can't live without it (travel all day in a suit) and that it was justified even if the car only lasted 3 more months (or the equivilant of 3 new car payments). Well, two months into it the tranny starts getting stuck in third gear......................

Fortunately, since the car has been paid for for 4 years, I've been putting the equivalent of a car payment into a money market. I won't go into debt for another, but still I hate buying vehicles.

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Yeah, cause their known for being efficient!

God bless our troops that have to deal with it!!

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My brother is doing one of these. He's got a couple old GMC 4x4's that need alot of work sitting behind his machine shed and he needs a work car. I don't think the dealers are being re-imbursed yet,but they wrote it up for him and signed it. One of his old trucks + $4000 for a new 2008 Chevy Aveo with A/C. Pretty good deal for a brand new car with warranty-he bought the truck with a weak motor and tranny just for deer hunting for $200. Too bad the Aveo's are so small.

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[Note from admin: Edited. Please keep on topic. Please stay away from even hinting at political parties. Thank you.]

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