Dr. Shane Posted September 1, 2009 Share Posted September 1, 2009 Dealers Still Waiting For Clunker Cash Auto makers will release their monthly sales reports Tuesday and they're expected to show the first year-to-year increase since 2007. While the Cash for Clunkers program is getting all the credit, local car dealers are still waiting for their cash. During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry. Billion Automotive cashed in during Cash for Clunkers, but owner Dave Billion is still waiting for the rest of his money from the government run program, $3.2 million. "I wonder how long they'd wait if I owed them $3.2 million. I think they'd be at my door or at least my banker's door," Billion said. Even though Billion is beginning to get some of his reimbursement money, he's still concerned because he says there doesn't seem to be any rhyme or reason to the program. When Cash for Clunkers was first announced, dealers were supposed to be reimbursed within 10 days of a sale. Billion says that hasn't happened. [text taken from link] Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
bonnie Posted September 1, 2009 Share Posted September 1, 2009 Quote: Auto makers will release their monthly sales reports Tuesday and they're expected to show the first year-to-year increase since 2007. While the Cash for Clunkers program is getting all the credit, local car dealers are still waiting for their cash. During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry. The government created a artificial demand. It will obviously show an increase in sales.Government cannot create a sustainable increase of product. People that could not afford a monthly car payment before will not be able to now either. Many of them will be doing the same as happened with easy money for inflated home prices Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
bonnie Posted September 1, 2009 Share Posted September 1, 2009 Our local news reported on cash for clunkers. Car buyers are mad because they cannot get the title till the government ponies up. Car dealers are mad because of the heat they are taking. This is a government that wants to run my health care and they cannot run a relatively small program Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
Dr. Shane Posted September 1, 2009 Author Share Posted September 1, 2009 I don't think an artificial demand was created at all. In fact, I think a lot of people had been putting off buying a new car and there was a pent up demand. The cash for clunkers program just broke the dam holding back the buyers. All around, I liked the program. It got buyers back into the show rooms and encouraged them to be more fuel efficient cars. I think this is one of the greatest Obama programs yet. However they need to get their act together on the payment and get these dealers paid. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
bonnie Posted September 1, 2009 Share Posted September 1, 2009 I don't think an artificial demand was created at all. In fact, I think a lot of people had been putting off buying a new car and there was a pent up demand. The cash for clunkers program just broke the dam holding back the buyers. All around, I liked the program. It got buyers back into the show rooms and encouraged them to be more fuel efficient cars. I think this is one of the greatest Obama programs yet. However they need to get their act together on the payment and get these dealers paid. You phrased it better. People had been putting off buying a car for the most part because they feared for their jobs or were reluctant to sign on to a 300-400.00 a month car payment. Many will join the ranks of repossession. If you cannot afford a 20,000.00 car on payments,it is unlikely you can afford car payments on 16-17.000.00 Listening to some they interviewed after their purchase they never should have put themselves in position of several years of car payments. Some are no longer convinced they will be paid. Those that have titles being held by the car dealer are not to happy either Many buyers did not buy because of lack of down payment. If you do not have a down payment for something you need you can't afford it when someone gives you the cash Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
Dr. Shane Posted September 1, 2009 Author Share Posted September 1, 2009 I don't encourage anyone to buy a car on credit but the reality of the world we live in is that most people do. The correct way is to save up the money and then buy the car. I suspect there were at least a few smart people that did save up their money and took advantage of the cash-for-clunkers program without having to borrow money. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
bonnie Posted September 1, 2009 Share Posted September 1, 2009 I don't encourage anyone to buy a car on credit but the reality of the world we live in is that most people do. The correct way is to save up the money and then buy the car. I suspect there were at least a few smart people that did save up their money and took advantage of the cash-for-clunkers program without having to borrow money. I doubt many came in with 16-17,000.00 cash. Most people went the credit route. Around here many very unhappy people do not have their vehicle or their used one either. The people that were interviewed bought if the promise of free money. Obama doesn't have to pay this money back. We do. I am not sure why the rest of us have to fund this irresponsibility. Next is coming free money for appliances. Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
Dr. Shane Posted September 1, 2009 Author Share Posted September 1, 2009 A guy called up the Dave Ramesy program yesterday that had saved up $21,000 to buy a car. That is not hard to do if a person is debt-free. A car payment of $400 will accumulate $21,000 in less than five years. Most people don't do it that way. Some people do. If everyone did, it would only hurt the banks. The same number of cars would be sold - maybe more. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
bonnie Posted September 1, 2009 Share Posted September 1, 2009 A guy called up the Dave Ramesy program yesterday that had saved up $21,000 to buy a car. That is not hard to do if a person is debt-free. A car payment of $400 will accumulate $21,000 in less than five years. Most people don't do it that way. Some people do. If everyone did, it would only hurt the banks. The same number of cars would be sold - maybe more. I am sure you realize that is not the norm. Most do not pay cash for a new vehicle. There may have been a few but they are not the ones the "free money" attracted Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
Members phkrause Posted September 2, 2009 Members Share Posted September 2, 2009 Well my next door neighbor did the cash for clunkers thing. He has his car which is a pretty nice one indeed, and he has his title with no problems. He was real happy with the out come. pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
bonnie Posted September 2, 2009 Share Posted September 2, 2009 Well my next door neighbor did the cash for clunkers thing. He has his car which is a pretty nice one indeed, and he has his title with no problems. He was real happy with the out come. pk Titles are giving if the car dealer receives the reimbursement from the government. Anyone that receives a free donation of money from "the government" is usually happy. Until someone stops for a bit and remembers it is not the governments money. It is the taxpayers Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
Dr. Shane Posted September 2, 2009 Author Share Posted September 2, 2009 New Ford Focus, Toyota Corolla, Honda Civic, costs $15,000. With a $4,500 discount, a lot of people could afford to pay cash for that. The Chevy Avero costs $11,500 so that could easily be purchased with cash. The $4,500 discount put it at $7,000. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
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