Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

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 ...

TOPICS: Business/Economy; Crime/Corruption; Extended News; Government; News/Current Events; US: Oklahoma
KEYWORDS: 0bama; 0bamacare; bho44; bhodot; cash; cashforclunkers; clunkers; dealerships; lahood
Navigation: use the links below to view more comments.
first previous 1-2021-26 last
To: Retain Mike

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

21 posted on 08/19/2009 7:55:17 PM PDT by 2harddrive
[ Post Reply | Private Reply | To 4 | View Replies]

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


22 posted on 08/19/2009 8:00:58 PM PDT by MediaMole
[ Post Reply | Private Reply | To 19 | View Replies]

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
[ Post Reply | Private Reply | To 21 | View Replies]

To: george76

C4C is a quagmire.

24 posted on 08/19/2009 8:09:11 PM PDT by LikeLight (
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 22 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

Navigation: use the links below to view more comments.
first previous 1-2021-26 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson