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

cash for clunkers

A

Anonymous

Guest
hypocritexposer said:
where did it go, was it spent on the program or on beer?
The amount of clunkers turned in for surpassed the amount of money set aside for it.
WASHINGTON (AP) -- The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.

The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.

A White House official said later that officials were assessing the situation facing the popular program but auto dealers and consumers should have confidence that transactions under the program that already have taken place would be honored.

Rae Tyson, a spokesman for the National Highway Traffic Safety Administration, which administers the program, declined comment.

Congress last month approved the Car Allowance Rebate System program, known as CARS, to boost auto sales and remove some inefficient cars and trucks from the roads. The program kicked off last Friday and was heavily publicized by car companies and auto dealers.

Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns about large backlogs in the processing of the deals in the government system, prompting the suspension.

A survey of 2,000 dealers by the National Automobile Dealers Association found about 25,000 deals had not yet been approved by NHTSA, or nearly 13 trades per store. It raised concerns that with about 23,000 dealers taking part in the program, auto dealers may already have surpassed the 250,000 vehicle sales funded by the $1 billion program.

"There's a significant backlog of 'cash for clunkers' deals that make us question how much funding is still available in the program," said Bailey Wood, a spokesman for the dealers association.

The clunkers program was set up to boost U.S. auto sales and help struggling automakers through the worst sales slump in more than a quarter-century. Sales for the first half of the year were down 35 percent from the same period in 2008, and analysts are predicting only a modest recovery during the second half of the year.

So far this year, sales are running under an annual rate of 10 million light vehicles, but as recently as 2007, automakers sold more than 16 million cars and light trucks in the United States.

Even before the suspension, some in Congress were seeking more money for the auto sales stimulus. Rep. Candice Miller, R-Mich., wrote in a letter to House leaders on Wednesday requesting additional funding for the program.

"This is simply the most stimulative $1 billion the federal government has spent during the entire economic downturn," Miller said Thursday. "The federal government must come up with more money, immediately, to keep this program going."

Brendan Daly, a spokesman for House Speaker Nancy Pelosi, D-Calif., said they would work with "the congressional sponsors and the administration to quickly review the results of the initiative."

General Motors Co. spokesman Greg Martin said Thursday the automaker hopes "there's a will and way to keep the CARS program going a little bit longer."
 

alice

Well-known member
hurleyjd said:
hypocritexposer said:
where did it go, was it spent on the program or on beer?
The amount of clunkers turned in for surpassed the amount of money set aside for it.
WASHINGTON (AP) -- The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.

The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.

A White House official said later that officials were assessing the situation facing the popular program but auto dealers and consumers should have confidence that transactions under the program that already have taken place would be honored.

Rae Tyson, a spokesman for the National Highway Traffic Safety Administration, which administers the program, declined comment.

Congress last month approved the Car Allowance Rebate System program, known as CARS, to boost auto sales and remove some inefficient cars and trucks from the roads. The program kicked off last Friday and was heavily publicized by car companies and auto dealers.

Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns about large backlogs in the processing of the deals in the government system, prompting the suspension.

A survey of 2,000 dealers by the National Automobile Dealers Association found about 25,000 deals had not yet been approved by NHTSA, or nearly 13 trades per store. It raised concerns that with about 23,000 dealers taking part in the program, auto dealers may already have surpassed the 250,000 vehicle sales funded by the $1 billion program.

"There's a significant backlog of 'cash for clunkers' deals that make us question how much funding is still available in the program," said Bailey Wood, a spokesman for the dealers association.

The clunkers program was set up to boost U.S. auto sales and help struggling automakers through the worst sales slump in more than a quarter-century. Sales for the first half of the year were down 35 percent from the same period in 2008, and analysts are predicting only a modest recovery during the second half of the year.

So far this year, sales are running under an annual rate of 10 million light vehicles, but as recently as 2007, automakers sold more than 16 million cars and light trucks in the United States.

Even before the suspension, some in Congress were seeking more money for the auto sales stimulus. Rep. Candice Miller, R-Mich., wrote in a letter to House leaders on Wednesday requesting additional funding for the program.

"This is simply the most stimulative $1 billion the federal government has spent during the entire economic downturn," Miller said Thursday. "The federal government must come up with more money, immediately, to keep this program going."

Brendan Daly, a spokesman for House Speaker Nancy Pelosi, D-Calif., said they would work with "the congressional sponsors and the administration to quickly review the results of the initiative."

General Motors Co. spokesman Greg Martin said Thursday the automaker hopes "there's a will and way to keep the CARS program going a little bit longer."

Just read about that, Hurley. Hate to say it...but I thought it was a bust to begin with...

Here's hoping everyone that participated will get what they signed up for.

Alice :)
 
A

Anonymous

Guest
My son and some of his buddies checked into the program- and found that all the vehicles had to be 1985 or newer- and had to have been licensed and insured for at least one year before- with gas mileage so much below the new ones- which leaves out all the junkers and wrecks- and leaves out the old #1 cruising car- the 75 Olds 98- which doesn't hurt my feelings a bit....
 

Tam

Well-known member
Gee the government under estimated the cost of the Cash for clunkers program that they announced. They burnt through a billion already and this program was to be open until Nov. 1st. :roll:

Weren't these the same guys that estimated the stimulus bill would hold the unemployment rate in the US, to less than 8%. :? Are these the ones that are estimating what the cost of Cap and Trade and what the US's Health Care will cost. GOOD LUCK paying your taxes.
 

hypocritexposer

Well-known member
reader (the Second) said:
what did you think of this comment? Was it self-serving because the person is a congressperson from Michigan or was it the truth?

Even before the suspension, some in Congress were seeking more money for the auto sales stimulus. Rep. Candice Miller, R-Mich., wrote in a letter to House leaders on Wednesday requesting additional funding for the program.

"This is simply the most stimulative $1 billion the federal government has spent during the entire economic downturn," Miller said Thursday. "The federal government must come up with more money, immediately, to keep this program going."

to determine that you would have to know where the cars were built and how much of the funds went into Michigan, would you not?m 90% of them could have been built in Canada or Mexico, for all we know.
 

Faster horses

Well-known member
Hey, this program was NOT FAIR.
I've been discriminated against. The government needs to give
me a clunker car to trade in cuz I don't have one. I'm ENTITLED,
you know. Obama needs to spread these cars around...
 

Big Muddy rancher

Well-known member
Faster horses said:
Hey, this program was NOT FAIR.
I've been discriminated against. The government needs to give
me a clunker car to trade in cuz I don't have one. I'm ENTITLED,
you know. Obama needs to spread these cars around...


Even the Scout didn't qualify. :wink: :lol: :lol: :lol:
 

hypocritexposer

Well-known member
Do they do they do any cost/benefit analysis on these types of programs?

1 hr 58 mins ago

WASHINGTON (AFP) – The US House of Representatives voted Friday to pump another two billion dollars into a program that lets consumers trade in gas-guzzling cars and trucks for more efficient vehicles.
 

aplusmnt

Well-known member
hurleyjd said:
Cash for clunkers will end prematurly. The allocated money is gone.

Good thing I have some weekend Jobs scheduled. I have been feeling the pressure to make sure I work, make money and pay my taxes so people can get $4,500.00 of my tax money.

Complaint I have is it may set my time frame back on getting my wife another car, her Avalon is about wore out and it will be hard for me to work to buy her a car while still helping John Doe by his new car.

I sure wish the founding fathers would have not put wealth distribution in the constitution so I would not have to work so much for other people to own cars!
 

Mike

Well-known member
The $668,221.00 owed by each and every household in the USA towards taxes, etc. just went up again. :roll:

I simply love the way the Dems can borrow money from us to spend at their discretion any time they get the whim............... :roll:
 

aplusmnt

Well-known member
I wonder how many Toyota Camry and Nissan Altimas were bought with our tax dollars?

Seen Toyota and Nissan advertising some pretty good deals in the local paper.
 

aplusmnt

Well-known member
reader (the Second) said:
aplusmnt said:
I wonder how many Toyota Camry and Nissan Altimas were bought with our tax dollars?

Seen Toyota and Nissan advertising some pretty good deals in the local paper.

Can you answer how many American workers kept their jobs making Nissan and Toyota cars in the US because of cash for clunkers? Or how much tax will be paid because the cars are made, distributed and sold in the U.S. How many dealerships stayed afloat employing American workers?

Toyota I know has been mostly made in the US for a decade.

I am on your side! I would never buy a Chevy or Dodge again and I have owned both!

But I think this Cash for Clunkers money was to help those companies we are bailing out. Doesn't help Chevy much if Toyota is getting the money!

Ps. Not sure you are correct on Toyota mostly being made here, they make some here but not most of them!
 

Tam

Well-known member
Now lets see the problems with this program
1. not everyone can afford a new car but you can bet they will be buying one with government encouragement. Last time the Government encouraged buying it was the housing market and that worked out really well now didn't it.
2. Not everyone can afford a new car and when these so called clunkers are destroyed there will be less used cars on the market which will drive up the price of the ones that are out there. Good luck if you are looking for a cheap second car for your kid going off the college in the fall.
3. When all these car buyers are buying cars now who will be buying cars after the money runs out?
4. When all these so called clunkers are off the road who will be going to Part departments and buy replacement parts.

When the government gets involved in private business you can bet the results will have and adverse effect on somebody. And don't forget the billions going out $4500 at a time is coming out of YOUR TAXES. :wink:
 

aplusmnt

Well-known member
reader (the Second) said:
GM employs 142,000+ people in the United States.
Toyota employs 36,632 people in the United States.

A bigger problem is Dollars leaving the country! Toyota profits are sent back to Japan and then spent in whatever part of the world they chose.

Kind of like Illegal immigrants sending money back to Mexico, the money leaves our country instead of recirculating as a snowball back in the U.S.
 
A

Anonymous

Guest
Looks to me like it was pretty overwhelmingly supported- and bipartisan- as many Repubs had to vote for it to get this vote...

On Friday, the House passed an additional $2 billion in aid for the Consumer Assistance to Recycle & Save Program by a vote to 316 to 109. The bill (H.R. 3435), known as "cash for clunkers," will shift funding from an energy loan program that was included in the economic stimulus plan passed earlier this year. The Senate plans to take up the legislation early next week.
 

hypocritexposer

Well-known member
Just because it was overwhelmingly supported does not mean it will be a beneficial program.

Bush was overwhelmingly supported at one time too, correct?

How much energy is going to be saved at what cost, and what are the financial benefits to the taxpayer?

How much energy does it take to recycle a car?

Throwing money at a problem is not always the best way to deal with it.
 
Top