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Car dealers steamed about slow pay on Cash for Clunkers
The Tulsa World Business ^ | 8/19/2009

Posted on 08/19/2009 6:44:17 PM PDT by george76

U.S. Transportation Secretary Ray LaHood assured car dealers Wednesday that they will be reimbursed for the money they have fronted to customers buying vehicles under the Cash for Clunkers program.

LaHood was responding to complaints over a backlog of rebate payments. Dealers must cover customer rebates out of pocket and wait for reimbursement from the federal government. Some have said their reimbursement requests have not been approved, leading to a cash crunch. That’s key because dealers typically borrow money to put new cars on their lots and must repay lenders within a few days of a sale.

“I know dealers are frustrated. They’re going to get their money,” LaHood told reporters in Washington, D.C.

In Tulsa, dealership owner Henry Primeaux said he has yet to receive a single refund from the Department of Transportation on $450,000 worth of rebates his company has submitted.

“We’re going to run out of money pretty fast,” said Primeaux, owner of Primeaux Kia. “That’s a lot of money out of our pocket.

(Excerpt) Read more at tulsaworld.com ...


TOPICS: Business/Economy; Crime/Corruption; Extended News; Government; News/Current Events; US: Oklahoma
KEYWORDS: 0bama; 0bamacare; bho44; bhodot; cash; cashforclunkers; clunkers; dealerships; lahood
Your check is lost in the post office.

/s

.

1 posted on 08/19/2009 6:44:17 PM PDT by george76
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To: george76

No Cash for Suckers.


2 posted on 08/19/2009 6:45:14 PM PDT by FlingWingFlyer (January 20th, 2013)
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To: george76

Next hospitals will have a Cash for Grannies program.

Pray for America


3 posted on 08/19/2009 6:46:55 PM PDT by bray (He's a Divider not a Uniter)
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To: george76

Here is a copy of the letter I began posting a couple weeks ago.

Obama’s Clunker of a Car Program

The “cash for clunkers” is in trouble not only because it is running out of money, but because dealers are unsure about how and if they will be reimbursed. The dealers sign all the papers with the customer, turn over the new car, and then submit the documents to the government for analysis and payment.

The process seems similar to the federal direct student loan program I refused to participate in when I was finance manager for a private college. After carefully reading the regulations, I discovered there was no point at which the Department of Education formally and unconditionally accepted the loan papers. Years later when a student defaulted there was nothing to prevent the government from returning the loan package to the college, and demanding payment in full for a just then discovered error according to the regulations they wrote. In Oregon I had the option of working with the state and private lenders to access the federal loan programs.

Car dealerships are not as fortunate. When other dealerships in the area are getting sales, a finance manager who brings up the uncertainties and frustrations of working with a typically imperious bureaucracy will lose.


4 posted on 08/19/2009 6:48:12 PM PDT by Retain Mike
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To: george76
The DOT released a statement through their spokesman, Eric Stratton:

“You f**ked up. You trusted us.”

5 posted on 08/19/2009 6:50:56 PM PDT by RichInOC (No! BAD Rich! (What'd I say?))
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To: george76

Hey, why don’t we just not pay the car dealers and we save $3 billion!


6 posted on 08/19/2009 6:51:07 PM PDT by Anitius Severinus Boethius
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To: george76
In Tulsa, dealership owner Henry Primeaux said he has yet to receive a single refund from the Department of Transportation on $450,000 worth of rebates his company has submitted.

How totally lacking of American way of him to complain in these times of crisis! /major sarcasm

7 posted on 08/19/2009 6:52:08 PM PDT by EGPWS (Trust in God, question everyone else)
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To: george76
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha!

We've been saying for over a year now that these Keystone Kops politicians, advisors and administrators haven't a clue about anything, and are fundamentally incompetent.

And these are the same people who want to run our entire health system?

Yeah.... right!

8 posted on 08/19/2009 6:52:31 PM PDT by Publius6961 (Obama Garden Club: Nothing but plants.)
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To: george76
We’re going to run out of money pretty fast I think that is the idea.
9 posted on 08/19/2009 6:54:26 PM PDT by Drill Thrawl (Another day, another injury, another step closer...)
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To: george76
This is perfect, crooked car dealers being taken for a ride by socialist crook democrats!

HAR!!!!!!!

Outstanding!

10 posted on 08/19/2009 6:55:04 PM PDT by Rome2000 (Hussein Baraka Mook Kebba)
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To: Publius6961

President Obama has taken pen to paper and signed off on Cash-for-Clunkers, a law that could help the auto industry shake its year-long funk. The Transportation Department now has 30 days to determine the rules and regulations for Cash-for-Clunkers, placing the start of the program at the end of July.

I guess he figured he would just keep printing money until we have Zimambwe style inflation.

This red SOB is your typical leftist moron, he and his PR men know all about getting imbeciles to vote him into power, and nothing about running the nation.

11 posted on 08/19/2009 6:56:24 PM PDT by Rome2000 (Hussein Baraka Mook Kebba)
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To: george76

The shape of things to come if we accept 0bamacare


12 posted on 08/19/2009 7:03:20 PM PDT by YHAOS
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To: Rome2000

Looks like our President got into this mess without a clear follow through plan for after the initial action was over.

Hey, wait a minute, where have we heard that before?


13 posted on 08/19/2009 7:03:38 PM PDT by HTuttle
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To: HTuttle

Yeah, unfortunately the problem couldn’t be solved by blaming “whitey” and the “jews”.


14 posted on 08/19/2009 7:06:08 PM PDT by Rome2000 (Hussein Baraka Mook Kebba)
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To: george76

It would be interesting to find out if the dealers who are not getting their money, are mostly foreign branded car dealers, whereas the ones who are getting reimbursed, are domestic branded car dealers?


15 posted on 08/19/2009 7:07:56 PM PDT by rawhide
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To: george76

I hope the dealers get screwed just for sucking up to the devil.


16 posted on 08/19/2009 7:08:58 PM PDT by taxtruth (WE CAN'T AFFORD UNCLE SAMMY ANYMORE!)
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To: taxtruth

I still remember how the CEO of GM went begging for a bailout, secured it, then obamma fires him.


17 posted on 08/19/2009 7:15:24 PM PDT by rawhide
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To: george76
Seeing as how mostly just Republican owned car dealerships got dropped when the administration ordered dealerships to be purged a short while ago, it's likely that many of these GM and Chrysler dealerships were socialist-lovers.

They can burn for all I care.

18 posted on 08/19/2009 7:35:00 PM PDT by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: george76

They should have given every car owner $4500 and let us use it as we wish. My car gets 35-39 mpg. It has 300,000 miles on it. I’ll NEVER qualify for any cash for clunker program.

And don’t even suggest I purchase a hybrid or electric car. Do you know how they make electricity?


19 posted on 08/19/2009 7:52:18 PM PDT by HighlyOpinionated (In a time of universal deceit, telling the truth becomes a revolutionary act. George Orwell)
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To: george76

An Obama voter: There’s one born every minute!


20 posted on 08/19/2009 7:53:22 PM PDT by 2harddrive
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To: Retain Mike

THINK of the mess if the Fed.gov tries to implement a gun “buyback” program! LOL.


21 posted on 08/19/2009 7:55:17 PM PDT by 2harddrive
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To: HighlyOpinionated
And don’t even suggest I purchase a hybrid or electric car. Do you know how they make electricity?

Magic?

22 posted on 08/19/2009 8:00:58 PM PDT by MediaMole
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To: 2harddrive

If they offered me $4500 for my old .45, I would sell it to them in a minute!


23 posted on 08/19/2009 8:04:07 PM PDT by 17th Miss Regt
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To: george76

C4C is a quagmire.


24 posted on 08/19/2009 8:09:11 PM PDT by LikeLight (http://www.believersguidetolegalissues.com)
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To: MediaMole
Don't you know that electricity comes from the wall?

(see my tagline!)

25 posted on 08/19/2009 8:09:28 PM PDT by WVKayaker (Sufficiently advanced technology is indistinguishable from magic. -Arthur C Clarke)
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To: george76
If I were President of Ford Motor Company I would slam the door on the cash for clunkers program in the Fed Govs face and advertise the fact to the hilt.

I just know they would gain market share!
I don't understand this lack of connection with the consumer. At first Ford did not take money from the government and they blew that opportunity to drum up customers.
Now they take part in this bull.

26 posted on 08/19/2009 8:21:11 PM PDT by right way right (Do not mistake Religion for God.)
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