• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Buyers Feel Regret as Cash for Clunkers Final Tally Is Relea

hypocritexposer

Well-known member
Buyers Feel Regret as Cash for Clunkers Final Tally Is Released

Date posted: 08-26-2009
STORY TOOLS
Digg this storyDigg this!
del.icio.usdel.icio.us

WASHINGTON — The Cash for Clunkers buzz is starting to wear off and it seems that some buyers are having serious second thoughts about getting on that government-funded bandwagon, according to a new survey. In the meantime, the U.S. Department of Transportation said that dealers by Tuesday's deadline had submitted a final total of 690,114 Cash for Clunkers deals for $2.88 billion in rebates.

The total is just under the revised $3-billion budget for the four-week program.

The new survey by CNW Purchase Path, of Bandon, Oregon, finds that of nearly 1,000 Cash for Clunkers participants, 17 percent say they have some or serious doubts that they should have made the new-vehicle acquisition.

"Primary reason: They are now facing a $275-$350-per-month car payment that didn't exist prior to acquiring the car or truck," said the report. "That amount, they say, could negatively impact the total family budget more than expected prior to buying the new vehicle."

In contrast, buyers' remorse hits about 6-8 percent of new-vehicle buyers within a month, said CNW Purchase Path.

Inside Line says: You might not feel so good after you remove that Cash for Clunkers party hat. — Anita Lienert, Correspondent

http://www.edmunds.com/insideline/do/News/articleId=155907
 

TexasBred

Well-known member
Yep..there will be a good supply of repos avaiable soon.....then listen to them yell when they get their 1099 forms at the end of the year for "the cash". That's the "president*" looking out for the little guy.
 

backhoeboogie

Well-known member
TexasBred said:
Yep..there will be a good supply of repos avaiable soon.....then listen to them yell when they get their 1099 forms at the end of the year for "the cash". That's the "president*" looking out for the little guy.

LMAO
 

TexasBred

Well-known member
Almost as sad as that woman on TV talking about no more rent, no more doctor bills, no more expensive gasolne or expenses of any kind cause Mr. Obama has been elected president*
 

Tam

Well-known member
Not only are the buyers showing remorse but the dealers are going to be next. All this program did was up the date in which some would have bought anyway. Look to see if sales don't bottom out in the last quarter of the year. These Artifical high sales are going to result in extreme lows you wait and see.
 

Tam

Well-known member
TexasBred said:
Yep..there will be a good supply of repos avaiable soon.....then listen to them yell when they get their 1099 forms at the end of the year for "the cash". That's the "president*" looking out for the little guy.

If a dealer repos the car does that mean they have to send the cash for clunkers moneies back to the government? :?
 

TexasBred

Well-known member
Tam said:
TexasBred said:
Yep..there will be a good supply of repos avaiable soon.....then listen to them yell when they get their 1099 forms at the end of the year for "the cash". That's the "president*" looking out for the little guy.

If a dealer repos the car does that mean they have to send the cash for clunkers moneies back to the government? :?

Only if he's actually been paid. What if gov't ends up giving out IOU's ?
 

Tam

Well-known member
TexasBred said:
Tam said:
TexasBred said:
Yep..there will be a good supply of repos avaiable soon.....then listen to them yell when they get their 1099 forms at the end of the year for "the cash". That's the "president*" looking out for the little guy.

If a dealer repos the car does that mean they have to send the cash for clunkers moneies back to the government? :?

Only if he's actually been paid. What if gov't ends up giving out IOU's ?

Last I heard the government was not getting the money out, some dealers were sitting on hundreds of thousands dollar worth of cash for clunkers claims and were going to pull the plug on the deals whether or not the government did as they were scared they weren't going to see the money.
 

Cal

Well-known member
If there's regret, or "buyers remorse" , over this program, just think how much discontent there would be over some of the biggies.....like Cap and Trade and Obamacare.
 

Sandhusker

Well-known member
Tam said:
TexasBred said:
Tam said:
If a dealer repos the car does that mean they have to send the cash for clunkers moneies back to the government? :?

Only if he's actually been paid. What if gov't ends up giving out IOU's ?

Last I heard the government was not getting the money out, some dealers were sitting on hundreds of thousands dollar worth of cash for clunkers claims and were going to pull the plug on the deals whether or not the government did as they were scared they weren't going to see the money.

You heard correctly. I've got a good buddy who works with some of the larger dealerships in Georgia and Florida. He says that these guys have their floor plans maxed out waiting for reimbursements and that many are even wondering how they're going to make payroll.

I wonder what kind of reaction you would get from those dealers if you asked them about putting the same people in charge of their health care?
 

katrina

Well-known member
Sandhusker said:
Tam said:
TexasBred said:
Only if he's actually been paid. What if gov't ends up giving out IOU's ?

Last I heard the government was not getting the money out, some dealers were sitting on hundreds of thousands dollar worth of cash for clunkers claims and were going to pull the plug on the deals whether or not the government did as they were scared they weren't going to see the money.

You heard correctly. I've got a good buddy who works with some of the larger dealerships in Georgia and Florida. He says that these guys have their floor plans maxed out waiting for reimbursements and that many are even wondering how they're going to make payroll.

I wonder what kind of reaction you would get from those dealers if you asked them about putting the same people in charge of their health care?

I heard more like millions of dollars the goverment owed to the dealers..
 

Sandhusker

Well-known member
katrina said:
Sandhusker said:
Tam said:
Last I heard the government was not getting the money out, some dealers were sitting on hundreds of thousands dollar worth of cash for clunkers claims and were going to pull the plug on the deals whether or not the government did as they were scared they weren't going to see the money.

You heard correctly. I've got a good buddy who works with some of the larger dealerships in Georgia and Florida. He says that these guys have their floor plans maxed out waiting for reimbursements and that many are even wondering how they're going to make payroll.

I wonder what kind of reaction you would get from those dealers if you asked them about putting the same people in charge of their health care?

I heard more like millions of dollars the goverment owed to the dealers..

Pushing 3 Billion - with a B.
 

Tam

Well-known member
katrina said:
Sandhusker said:
Tam said:
Last I heard the government was not getting the money out, some dealers were sitting on hundreds of thousands dollar worth of cash for clunkers claims and were going to pull the plug on the deals whether or not the government did as they were scared they weren't going to see the money.

You heard correctly. I've got a good buddy who works with some of the larger dealerships in Georgia and Florida. He says that these guys have their floor plans maxed out waiting for reimbursements and that many are even wondering how they're going to make payroll.

I wonder what kind of reaction you would get from those dealers if you asked them about putting the same people in charge of their health care?

I heard more like millions of dollars the goverment owed to the dealers..

That is hundreds of thousands to each dealer and yes one interviewed said his was pushing the million dollar mark. One has to wonder just how much of the 2.88 billion will get out to the right dealers in time for payroll. I heard that some claims were being refused due to small typos, after the dealers made the deals and sent in the paper work.
 

aplusmnt

Well-known member
TexasBred said:
Yep..there will be a good supply of repos avaiable soon.....then listen to them yell when they get their 1099 forms at the end of the year for "the cash". That's the "president*" looking out for the little guy.

I am sure Obama will have a bail out to bail out those getting their cars reposed. Obama's Merry Go Round economic plan!
 
Top