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Politics : Politics for Pros- moderated
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From: DMaA8/13/2009 9:51:12 AM
3 Recommendations  Read Replies (2) of 793933
 
Check out these rules on the Klunker program:

cars.gov

CONSUMERS ARE NOT REQUIRED TO SIGN CONTINGENCY AGREEMENTS TO PAY BACK THE DEALER SHOULD THE CARS CREDIT BE REJECTED.

Government chooses to punt on the deal, dealer eats $4500.

IF THE DEALER HAS THE NEW CAR IN STOCK, THE DEALER MUST ALLOW YOU TO TAKE POSSESSION OF THE NEW CAR BEFORE THE DEALER MAY SUBMIT THE CREDIT APPLICATION TO THE GOVERNMENT. PLEASE REPORT ANY DEALER TO NHTSA THAT DOES NOT ALLOW YOU TO TAKE POSSESSION OF A NEW CAR PURCHASED UNDER THE CARS PROGRAM. PLEASE CALL THE CARS HOTLINE AT (866) CAR-7861.

You get a car immediately, the dealer sits around and around and around until the government decides whether to pay them.

Was this program designed to put dealers out of business?
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