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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: atticus4paws who wrote (213593)7/31/2009 4:51:29 PM
From: The ReaperRead Replies (2) of 306849
 
<I really don't know what happens in the verification process. But since the dealer isn't doing the crushing, I assume the car needs to be driveable to get on a truck to get to the processor.>

My understanding is that the first thing that is done is to seize the engine with sodium silicate before taking it to the crusher. The car doesn't leave the lot with a functional motor.

The dealer is responsible for this and the transport to the crusher. I heard a woman on the radio that does the administration for one of the local dealers. They get $50 for the effort to complete this process. The dealer has to fork out the $4500 upfront and hope the paperwork and the cars they process are all correct. After submission to the govt. they wait to get paid if the transaction is approved. Some dealers locally are requiring customers to sign contracts that stipulate that if the dealer is not reimbursed, the customer has to come back and pay the $4500. This has the makings of a complete clusterf***. This I assumed would be a pretty easy program to administer from the govt. but it's looking like a little more complicated. There's a 136 page rulebook to follow for this program..... and they want to run our healthcare. That rulebook would be in the tens of thousands of pages.
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