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Cash for Clunkers over, dealer deadline for filing extended indefinitely
If you're a car dealer, chances are that you're not visiting Autoblog this morning to see what's going on. No, your head and the head of every single one of your employees is buried in a keyboard right now, frantically refreshing the government's website that handles Cash for Clunkers submissions. The website has been down since yesterday morning, and the Transportation Department has officially extended the deadline for dealers to file their reimbursement requests twice now – once yesterday to noon today and again late last night. The second extension is open ended until the site comes back online and is able to handle the influx of dealer submissions.
The government website went down at some point before noon on Monday morning, presumably when dealers nationwide began submitting their final reimbursement requests from last weekend's bonanza sell-a-thon. All the government is saying right now is that dealers will have any time lost while the site was down to submit their final paperwork. The deadline to actually sell cars through the Cash for Clunkers program came and went last night at 8PM, but if dealers are prohibited from submitting paperwork for those final sales, they may be out the cost of the C4C rebate for each car.
[Source: Automotive News, sub. req'd | Photo by Ethan Miller/Getty]
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Reader Comments (Page 1 of 2)
_Jon 10:06AM (8/25/2009)
And they want to run health care....
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DayShifter 10:19AM (8/25/2009)
[YAWN]
bwzd7p2 10:22AM (8/25/2009)
Yes, because as anyone who's dealt with filing a claim with a private health/vision/dental insurance plan knows, that is always a swift, smooth, glitch-free process.
Rich 10:38AM (8/25/2009)
Funny you should say that, underscore-John-without-an-aitch, but, no. They want to run health insurance on a permanent basis, as opposed to temporarily (like, say the CARS program -- just by way of example).
geo.stewart 10:58AM (8/25/2009)
Boy, this is going to come out wrong and have unintended consequences but here goes:
the issue with this, gov't-run healthcare, gov't-run...., is that its run by our government.
Its a fundamental problem with how we do it.
Everyone on this blog agrees whole heartedly that a car designed by committee is 99times out of a 100 an abomination. Why then, would you think any program done the same way would be any different? that is how EVERY government program is created.
the only way that changes is if you change how the government operates but we wont, and personally I'm glad. I want government structured the way it is, I just dont want government running things it is not structured properly to handle.
Let private business and a capitalistic structure do what it does best. sure committees are involved but at the end of the day, there is one man responsible for each decision and if it goes bad, he is ousted then and there, not at the end of a 2- or 4- year term with a pension for life.
Sorry for my little rant a little off the auto-theme but...
:-)
Brian 11:13AM (8/25/2009)
Government run health care outranks private sector health care.
http://www.defenselink.mil/news/newsarticle.aspx?id=14560
Julius 3:32PM (8/25/2009)
@ Brian - I've worked in a VA. I would argue about how it's "better".
There've been lots of issues with "following the proper procedures" to get stuff done. For those in the military, they're familar with dealing with administrative crap. The average person won't be.
recharged95 12:03AM (8/26/2009)
" For those in the military, they're familar with dealing with administrative crap. "
And they follow directions and do the administrative crap cause it's directly related to their promotions and pay, i.e. follow orders. The rest of the world doesn't work that way.
Avinash machado 10:23AM (8/25/2009)
The program itself turned out to be a clunker.
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Rich 10:41AM (8/25/2009)
If you're talking about Windows servers, then maybe.
Otherwise, if you mean CARS itself, um, did you *read* the article? The servers have fallen over because it was a resounding success. These guys will get their money.
Maybe you have different definitions of success?
Julius 3:35PM (8/25/2009)
It burned through free money faster than expected.
What'll determine if it's a success is if it really stimulates a recovery (which I doubt). Especially since about 46% of that money is going directly overseas...
BoxerFanatic 10:39AM (8/25/2009)
Good riddance. Good bye.
That program was bone-headed from every angle, and even hurt the people it was trying to play at helping.
But don't think it is over... they'll try something else.
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Rich 10:42AM (8/25/2009)
That's because many of the provisions written into the original bill were struck out by political weaklings.
cowboy bob 11:40AM (8/25/2009)
You have that right. This whole economic mess was the result of people being financially in over their heads, with no allowance for any "what if's". So, lets have people who usually cannot afford it to go out and GO INTO DEBT FOR A CAR!! Bet this won't be a problem with new car payments........yea.....right.
dukeisduke 10:56AM (8/25/2009)
Even if the dealers get their reimbursements, they'll still be out some money because they had to advance the money to buyers, which means loans from banks, which means interest payments. Epic FAIL.
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Brian 11:31AM (8/25/2009)
Wrong, the only loan the dealer would need is to put the new car on the lot in the first place. There is no reason they would need another loan because they didn't get paid in full the very day the vehicle leaves the lot.
You= fail.
CHRIS 11:37AM (8/25/2009)
Brian, Wrong again, I have experience. The manufacturers 'loan' dealesr the vehicles, but payment is due within a day or so of when the vehicle is sold. Our dealer is out about 300,000 in cars deals, thankfully we are self sufficient, and not relying on bank loans.
Btw, The site for C4C submission has been up since this morning at 5:30 when i put in our last claim!
Chris
Reply
Brian 11:49AM (8/25/2009)
When you say "wrong again" you are probably thinking of the other Brian that posts a lot more than I do.
Then you go on to say you are NOT relying on bank loans to cover the delay in reimbursement.
Yup.
Doug 12:15PM (8/25/2009)
As a Ford dealer the program was a success. Cleaned me out! As an administrative program it's a nightmare. The Gov't pawned the admin of the program on Citigroup. Who honestly thought the initial $1 billion would last until Nov? Poorly thought out and poorly run. I'm out $115,000 cash right now. I sure could use it...
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DL 2:21PM (8/26/2009)
Yes, I agree that it is an absolute mess of paperwork, but enough belly aching about dealers not getting paid, wonder how much dealers were paying on interest and insurance of unsold inventory, especially for those left over 08MY units that were delivered in late 07?
Simple truth; based on an average sales price of $27K per deal, dealerships got paid over 85% instantly and only have to wait for the last ~15% from the government.
Can't live on 85% for a few more weeks?
Based on my simple math that $115K represents over $766k in revenue that you have received from this program. Puts things in perspective doesn't it. Dealerships were surviving on 60% sales rate for the last 8 months. Yes it is a cashflow drain, but 150+ days of unsold inventory was not? Such lousy liars.
Please, just say Thank You and shut up! Yes I'm very mad. This was a program from my tax dollars to you and no appreciation whatsoever, nothing but more bitching, every-f-ing-one is a bigger victim of injustice than the last. Enough! If any dealerships goes under while waiting for that last 15%, Good.