Only 2% of cash for clunker deals reimbursed by govt

Per the Frank Beckmann show, WJR....only 2% of auto dealers have been reimbursed by the government in c4c deals.

Rules have changed regarding c4c deals...after a week, the govt realized auto dealers should not have been required to destroy the car before the deal was accepted by the govt (translating into $4500 loss for EACH CAR for the dealer if the deal was rejected by c4c.)

Dealers have allowed car buyers to drive off the lot with the new car, while the dealer can store the clunker in the event that the govt turns down the client. Many dealers have hundreds of thousands of dollars tied up that the govt has not reimbursed....iow, the dealer is floating a loan to the govt....until they feel like paying up.

Apparently there is a shortage of employees at the govt end of the deal. They are planning on hiring a total of 1000 employees in addition to the two hundred they already have. There are thousands and thousands of documents that need to be reviewed.

The National Highway Safety commission has advised that buyers not sign certain papers that the c4c advises buyers to sign to return the new car in the event the govt rejects the deal. Highway Safety advises the papers are illegal.

One deal was rejected by c4c because the applicant forgot to add the "e" at the end of "automobile."