Cash For Clunkers

[TDW]

One of our local Dealers, Joseph Pontiac-Chevrolet, just had most of his employees walk off the job. They haven't been paid in over 30 days. The owner, Joe Hood, says he has no money to pay them because the Gov hasn't sent one dime of the money to him from the C4C deal. He said all of his money was tied up in inventory, which is now gone. Don't know if he is telling the truth or not, but all the Dealers around here that were interviewed for the story said the same thing about no money from the Gov yet.

[Norm reynolds]

[ QUOTE ]
If they can't make the payments they should not have gotten the loan anyhow

[/ QUOTE ] BUT THEY DID

Cash for clunkers will be one of the biggest FAILURES of all time Have a friend that work in GMs finance
And was telling me yester day this will be much worse than the sup prime mortgages . told me about 80%
Of the people that fell for this CAN NOT AFFORD the payment and had no business buying a new car they can not
Afford the monthly payment Plus higher insurance If they could not afford the gas in there old car there is no way they and afford a new car The only one that will make out on this mess is the repo man and then all the banks will be crying about of all of the new cars they have on their hand sitting on the banks lot
What is a same is some good cars got junked because of this scam . But I have be told a lot of the nice cars went some were in the mid west to be restored because by Dec there will be a demand for them

[Salvatore]

You really were not suppose to trade them in if they were NOT junk. Don't really know what the reprocussions are or will be but it was suppose to be a shot in the arm for the factories, dealerships, salespeople etc. Also I believe their aim was to get some of the more polluting cars off the streets. This may not have worked for all but I think some of the dealerships around me did fairly good by it. I still kept my clonkers though.

[Norm reynolds]

Yes some dealerships did ok with this but all it did was delay what is going to happen in the end
For a lot of them it will be the end
Just wait and see what happens by Dec or better yet Feb of 2010
As for me I will be keeping my Jeeps with the old school inline 6
They may not be the fastest out there but that motor is just plain bullet proof
And most likely will out last me .Mine are all paid off may not get the best mpg
But once you own a 4x4 you will never go back
so me yea I will keep my Clinker
just going to be a bad next year for the new car industry and I feel sorry for all that got suckered
in to this mess. It started out as junk cars only BUT people were trading in really good cars.
So what we will have is a shortage of good used cars WHAT’s WORNG WITH THIS PICTURE

[x Baldwin Motion]

a local dealer is still holding thirty clunkers and waiting for govt. checks.

[Chateau Slate 66]

Even with C-F-C, Chrysler and GM posted declines while Ford had an increase in sales.

Which two out of the three are in turmoil because of taking money from the government?

Like I said before, I wouldn't buy a Chrysler or GM right now either until they can show signs that they will be around 6 months from now.