Cash For Clunkers Tells Car Dealers: The Check Is In the Mail ...

SCADA Survey Shows Only 2% Of CFC Claims Have Been Paid .....

If you though that the Economic Stimulus Program was the only case where the Federal Government is dragging it's feet to send out the money they set up, think again. According to the Orangeburg Times and Democrat, the Cash For Clunkers program is starting to tick some dealerships off.... While on the surface, they have benefitted a lot from the government assistance, it's becoming apparent that if you depend on Uncle Sam to help you out, then you better be prepared to wait.... and wait..... an maybe wait a little more.

There appears to be a bit of confusion here, and it appears that the taxpayers are the ones who will end up paying for it all again.... Did you think otherwise? From what we heard initially, Cash for Clunkers was such a success that they ran out of money for the three month program in a week. That doesn't appear to be the case - unless you're talking about IOU's. Because a recent survey done by the SC Automobile Dealers Association with it's dealers said that only 2% of the cars sold through CFC have been paid. 2% . 2%. One more time - 2%......

So, as usual, it appears that CFC didn't even have any money set aside to pay for it. They didn't run out of money, they never had the money to start with, which is why the payouts are so slow. Guess they're still printing that extra cash at the Treasury..... If you're wondering why the Stimulus is so slow in getting disbursed, this should give you the idea. And some of the dealers are starting to tell CFC to give kiss their butts......

The T&D says that one Chrysler-Dodge-Nissan dealer in O'burg has stopped accepting Cash for Clunker cars. They say that the Feds promised that payment would be received in ten days, but many are double that now, and they're still waiting. Maybe they're not being the most patient guys here, but the dealers are giving away money, and they haven't gotten it back yet - and they need it to buy more cars from the manufacturers. No, they don't get them for free....

Word is that CFC has tripled it's staff to speed up the processing - from 2 to 6? I don't know, but it's obvious that with each new program that the Federal Government that's created, the planning is not sufficient to actually have these programs ready to go when they are 'rolled out'. If there are any examples to give creedence to the Obama Administration slowing down getting into health care, these are it...

This just in as we were finishing the post ..... The Obama Administration has announced that Cash For Clunkers will end suddenly on Monday at 800PM. Good Call, fellas .... Stick to What You Know.

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