Tag Archives: cash for clunkers

SOB Post Cash for clunkers

Cash for clunkers expired? Not at Saturn of Borderntown. Check out for the offers

Cash for clunkers

Cash for clunkers

The final climax for cash for clunkers is over

This week end, Americans rushed to auto dealer showrooms to get their clunkers which were responsible to generate $2 billion sales. The government sponsored cash for clunkers which offered rebates up to $4,500 for trade in for old guzzlers.

The cash for clunker program is finally over except for the paperwork. The program that ended at 8PM (EDT) Monday saw hordes of old empty cars, pickups, SUVs and old guzzlers lined up in front of auto dealers. The once hesitant customers to go for new vehicles were lured back to buy new vehicles by the $3 billion rebate program.

In all the four dealerships of Maguire Auto Group, New Jersey, there were lines of customers waiting to avail their clunkers. The timings were extended till 8 PM on Saturday to facilitate customers to take advantage of the program.

For the auto dealers, this was literally the best weekend after a period of two years. Some dealers sold over 58 new vehicles in a single day. The trade in rebate program had started last month to promote sales in the struggling auto industry and at same time save the environment. It provided rebates $3,500 to $4,500 to trade in their old cars which had low mileage for new, more efficient ones.

According to White House Council of Economic Advisors, cash for clunkers program would boost US economy by 0.4% in the third quarter for this financial year.

Successful wind down of Cash For Clunkers Program

Transportation Secretary Ray LaHood said that the “ Cash for Clunkers” program which had been a wild success would be closed by August 24. The program had helped consumers to avail as much as $4,500 discount for trade in for better efficient fuel vehicles had helped auto industry in America to increase their sales, create jobs for thousand of American and helped to revive US economy, although it had come under criticism by auto dealers who complained of low disbursement. The department of Congress said that car dealers and customer’s deadline will give entire purchases and also submits applications for discounts from the remainder of the $3 billion. The agency said its adding employees to assist process claims faster and traders have criticized of trouble running their businesses while awaiting payment in the program. LaHood said further in a statement that the cash for clunkers program has been a salvation to the automobile industry. The agency added that they do not accept the applications after New York time after 8P.M. The Transportation Department said earlier that it has handled 167,000 or 37% of the 457,476 trader requirements for reimbursements submitted as of today. A senior administration official said on a call with reporters that $145 million has been paid out so far to traders. Wind-Down Plan :- National Automobile Dealers Association dealer group met with Transportation Department some time back to talk about concerns that reimbursement delays add to the load of retailers of trying to get better from a sales sprawl. It also pleaded the agency to outline an arrangement to wind down the effort so that retailers know when to end accepting trade-ins. Representative Joe Sestak, a Pennsylvania Democrat, last week said that the effort by NADA had paid traders for only 2 percent of their claims. The program is formally known as the Car Allowance Rebate System, or CARS. Lahood was asked by Senate Majority Leader, Harry Reid, a Nevada Democrat in a letter to speed reimbursements has said that “traders have been required to successfully finance the CARS coupons for customers up till the traders are repaid by the federal government could finally make up for some of the advantages of the program. Training Workers:- LaHood further said that there had been around 1,000 people who have got processed their applications that evaluate with fewer than 200 when the program began. The agency also by using Citigroup Inc. is providing necessary training to its staff to handle the paperwork. Robert Gibbs, White House press secretary, said to reporters at a briefing that “they are doing everything to accelerate the processing of the applications in a program that’s been flourishing, for customers, traders, makers and workers. Transportation Secretary Ray LaHood said that the “ Cash for Clunkers” program which had been a wild success would be closed by August 24. The program had helped consumers to avail as much as $4,500 discount for trade in for better efficient fuel vehicles had helped auto industry in America to increase their sales, create jobs for thousand of American and helped to revive US economy, although it had come under criticism by auto dealers who complained of low disbursement. The department of Congress said that car dealers and customer’s deadline will give entire purchases and also submits applications for discounts from the remainder of the $3 billion. The agency said its adding employees to assist process claims faster and traders have criticized of trouble running their businesses while awaiting payment in the program. LaHood said further in a statement that the cash for clunkers program has been a salvation to the automobile industry. The agency added that they do not accept the applications after New York time after 8P.M. The Transportation Department said earlier that it has handled 167,000 or 37% of the 457,476 trader requirements for reimbursements submitted as of today. A senior administration official said on a call with reporters that $145 million has been paid out so far to traders. Wind-Down Plan :- National Automobile Dealers Association dealer group met with Transportation Department some time back to talk about concerns that reimbursement delays add to the load of retailers of trying to get better from a sales sprawl. It also pleaded the agency to outline an arrangement to wind down the effort so that retailers know when to end accepting trade-ins. Representative Joe Sestak, a Pennsylvania Democrat, last week said that the effort by NADA had paid traders for only 2 percent of their claims. The program is formally known as the Car Allowance Rebate System, or CARS. Lahood was asked by Senate Majority Leader, Harry Reid, a Nevada Democrat in a letter to speed reimbursements has said that “traders have been required to successfully finance the CARS coupons for customers up till the traders are repaid by the federal government could finally make up for some of the advantages of the program. Training Workers:- LaHood further said that there had been around 1,000 people who have got processed their applications that evaluate with fewer than 200 when the program began. The agency also by using Citigroup Inc. is providing necessary training to its staff to handle the paperwork. Robert Gibbs, White House press secretary, said to reporters at a briefing that “they are doing everything to accelerate the processing of the applications in a program that’s been flourishing, for customers, traders, makers and workers. GM said that General Motors Co. is planning to offer cash advances to traders awaiting government reimbursement as the initiative impels. He also said that the advances will be made for new automobiles sale already exchanged under clunkers through the life of the program. GM will be provided the government initiative for their most excellent sales this year. According to J.D. Power & Associates, new-Vehicle trade sales in the U.S will top 1 million for the first time long-ago in 12 months. Meredith Libbey, a spokeswoman for the automaker’s loan unit said that Ford Motor is rising the accessibility of credit for traders used-vehicle financing to provide cash flow relief to traders awaiting ‘clunker’ payments from the government.

//

//

Important information from Maguire Auto Group

Maguire Auto Group has anounced the total of its four dealerships will be extending Saturday Sales Hours on August 22 from  6PM to 8PM EST so that customers can take full advantage of the cash for clunkers program before it closes officially.

For any further clarification you can contact Michael at michael.maguire@maguireauto.com

CARS program to wind up by August 24

WN BOTTOMLINE CLUNKER SALE August 09

Michael Felps said to decide where to buy a new car. The hottest deals of this summer are windsor Nissan. I am a wired family.  Michael Maguire said his friend Michael felts is right. Windsor Nissan is having its bottom line model event sales of it. And when you add in savings, you can get trading in a clunker. The bottom line price is pretty incredible. Example:- Altima, the MSRP is $2257. After tax and rebates and cash for the clunkers’ rebate you can get 09 Nissan Altima at  $14146 saving you over $8600. Same goes 09 Nissan.Clunker money is going fast. No wonders Customers choose Windsor Nissan. Timing is everything. Don’t miss anything. Prices reflect $4600 and tax is extra

Listen to the short broadcast:

WN Bottomline Clunker Sale

SOTR CLUNKER SALE August 09

Michael Felps said to decide where to buy next car. The hottest deals of this summer are Cheverolet. I am a wired family.Michael Maguire said his friend felts is right. Cheverlot have been a spectacular sale this month. Michael Maguire said Michael felts is right. Chevy is having biggest sale of the year. After all GM and Cash for Clunkers rebate the 09  is $8442. Its over $7600 of the MSRP. Trading in Clunker Chevy deals in pretty good and Cheverlot has biggest sale this month. Same with New Malibo Sale price is $14,759.The prices for silverado are $21,454 saving you $11,000.No wonder so many customers choose Cheverolet. Timing is everything. Don’t miss anything. Prices reflect $4500 and tax is extra.

For the broadcast click the link below

SOTR Clunker Sale

//

CASH FOR CLUNKERS TRANSACTIONS

There is an agreement from the U.S government which has the same opinion to allow dealers to submit cash-for-clunkers transactions for vehicles ordered from industries instead of just those purchased ones at a dealership.

The verdict from the National Highway Traffic Safety Administration in reply to dealers’ complaints about decreasing inventory on loads today. The reports say that the agency has abandoned about 80% of cash-for-clunkers transactions.

NHTSA said in a statement that traders who want the first obtained vehicle must have the new car’s Vehicle Identification number (VIN) from a firm. Repayment requests still must have all the documents for the exchanged vehicle who announced after a NHTSA conference call which came today with trader group leaders. It is said by the NHTSA administrators to three trader group heads who heard that the government is rejecting 4 out of 5 deals made under the incentive. Jim Appleton, president of the New Jersey Coalition of Automotive Retailers said that NHTSA dealers have only got payments for 2% of the processed voucher requests. He further said that dealers should get paid in order to continue their work. Also, some of the dealers are flipping out. The payments in their bank accounts do not indicate their transaction number. They just get $4500, but it is unknown fact that they do not know the deal.

Karen Aldana, a NHTSA spokeswoman said that she could not have any news from the conference call. Traders must apply the clunkers program which gives consumers up to $4,500 for trading in gas-gulping vehicles for replacements with better fuel efficiency who must apply for repayments for the consumer vouchers.

Pete McNamara, president of the New Hampshire Automobile Dealers Association who was also on the call said that the rejections are because of “an indication of a broken system”. He further said that if 80% of one’s kids fail a test which means that neither someone is not teaching them nor it might be a confusing test.

The government, NHTSA and according McNamara said the No. 1 reason that traders are watching the rejection of transactions is that they are not writing “junk automobile, cars.gov” on trade-in vehicle’s title on both sides. Many dealers thought that they were following instructions and making sure that the titles had a label on both sides of which stickers could be stripped off and need to write the words. He gave a suggestion as “break out the permanent marker” to his dealers. He further added that Dan Smith, NHTSA’s associate administrator for enforcement was one among on the call.

Reasons for rejection Missing signatures on paperwork, absent proof of insurance for the trade-in vehicle or mismatched vehicle identification number for the trade-in are one among the top most Reasons. For example:- A top 10 list is posted at cars.gov/dealersupport with explanations of how to avoid making a mistake on a transaction. McNamara said that NHTSA rejected 13,000 deals overnight for having at least 3 errors their summary of sale form.

The dealers should follow the whole thing and got to start from scratch. NHTSA, said that the dealers have submitted $1.4 billion for which it overseas the $3 billion cash-for-clunkers program. The officials of NHTSA told in a conference call that they increased the number of people processing the transactions to 1,200 from about 200. They further said that they are seeking a possibility to wind down the program before funding runs out.

McNamara suggested that it will be fine with him even there is money left in the program and just not to let it run out and have dealers and consumers harmed at the end of it.

Congress approves $2B for cash for clunkers program

The congress on Friday on a unanimous vote passed the popular “Cash for clunkers” program by infusing two million dollars to keep alive the popular program which has been running out of funds. In a quick response within hours, Obama administration approved it when they came to know from Transportation secretary, Ray Lahood.

According to President Obama, “ I was encouraged by the house action to keep alive the program which was  very successful beyond our expectations”. The senate is also ensuring the program wouldn’t be affected by shortage of funds.

The program called the Car Allowance Rebate System, aka CARS was designed to boost the auto industry and increase the car sales. Car drivers can get federal subsidies in terms of electronic vouchers up to $4,500 to trade in old cars for new cars which give better mileage.

The funds for the program would be met by economic stimulus bill which was sanctioned earlier. Some dealers complain continuous rejections and have to be satisfied with chaotic clunker program. The program which was launched officially last week with one million dollar budget has been heavily publicized by government and automakers

There had been a $1 billion budget for rebates for new car sales in the program that was officially launched last week and has been heavily publicized by government and automakers, and the program was short of funds in the first week itself.

It is still very vague how many cars have been sold under this program and congress has asked the transportation department on the program progress to determine the future plan. The government assured the consumers that the program would run and be alive and encouraged buyers to buy new cars this weekend

Is Cash for Clunkers program falling short of cash?

Amid confusions over the suspension of cash-for-guzzlers popular government program by auto dealers last night because it was approaching the one billion dollar limit, a white house spokesman confirmed that the program has not been suspended and continues to operate, however continuous assessment is being carried out to assess the budget and the program. ‘Transportation Department told us to cancel the program after just six days’ revealed Bailey Wood, the spokesman National Automobile Dealers Association.

.

‘Administration department is in regular touch with House Speaker Nancy Pelosi, D-Calif., and sponsors of the cash-for-guzzlers legislation in to find a solutions. We are concentrating on getting results by this program a successful one’, said Pelosi spokesman Drew Hammill. However, this statement was declined by Rae Tyson, the spokesperson of Transportation Department. Wood was not available for comment. Wood said ‘NADA is planning to send an advisory to members on how to react to the expected defect’. Members of the Michigan congressional delegation also are set to discuss how to increase funding for the program.

Wood came up with a revelation “The proof for a backlog of around 200,000 pending claims, which may exhaust the program’s budget of $1 billion, was found by the survey conducted by NADA”. It must be noted here that NADA conducted a survey of 2,000 dealers.

.The program started processing the claims of the dealers for repayment of a sum of $3,500 to $4,500 consumer credits on 24th July. The program was supposed to continue through 1st November.

%d bloggers like this: