Uh "O"

Popular government funded program, Cash for Clunkers, has not really been bringing in the good news. Auto dealers are unhappy that they are not being reimbursed for the majority of “Cash for Clunkers” deals they have made. There have been reports of up to a quarter million dollars worth of rebates going unpaid at single dealerships. This is forcing auto dealers to rethink their use of the program because it is not helping them during an already difficult time; the cash flow is just not there. Within only a couple weeks, dealers have submitted a total of $1.5 billion in rebate requests through this program. Not many of them have been reimbursed. While no one knows the total amount that has been paid out, there have been individual reports. For example, A survey of about 1/5 of Virginia’s 519 dealerships was done and showed that only 2.8% of about 4,000 “Cash for Clunkers” deals submitted have actually been paid. This is some risky business because there is a lot of money and expensive product on the line. Originally, the dealerships were expected to wait 10 days to receive their rebates. There have been many complications, and paperwork is not being approved. It really sounds like a huge mess. Maybe it was not such a great idea?

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