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Old 08-27-2009, 08:49 AM   #81
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Default Re: Remember that POS Bill "Cash For Clunkers"?

Quote:
Originally Posted by steelwalls View Post
By the way lets send stimulus money to inmates serving time??? Good job pres....
Yeah, saw that...3,900 $250 checks to inmates. Nice...

Anyway, as a follow-up concerning local dealers, the Cleveland Auto Dealers Association released something about local dealers being owed between $45,000 and 3 million per dealership in clunkers money from the government, and how, at this point, it's basically become a loan. Also, to date, less than 5% of these "CARS" loans have been paid by the government. Here's a quote from the Pres of the GCADA:

Basically, dealerships have fronted this money to the federal government in what amounts to an interest-free loan, even though the dealerships must continue to pay interest on that money from their lending sources.
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