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Sunday, October 25, 2009
I know I have posted this CashForClunkers Video before,
that a close friend of mine who is also in the ‘Automotive Business’ from The ‘Motor City’ made of the cars that were being traded in as ‘Clunkers’ in the program.
He called me earlier today to let me in on some new information that was leaked to him from a F/I Man from another Car Dealership that the F/I Man had just mailed out 140+ letters to those that participated in this “Stimulus” program saying that they where now responsible for the $3,300+ because the Government reneged on it’s promise.
Remember that was only one dealership, so who knows how many other letters will be sent out and can someone please tell me how this is ‘Stimulating’ the economy?
‘Cash for Clunkers trade-ins piling up’
Under the program, the cars are required to be crushed or shredded within six months of the date the vehicle is transferred from the dealership.
Recyclers say the deadline, even a few months away, will be hard as they try to remove spare parts such as transmissions, front and rear axles, starters and alternators.
“True recycling is using something to its fullest potential and then recycling it over again by making it into steel and sending it out to become another engine or transmission or car,” said Jeff Cantor, an auto recycler in Candia, N.H. “We’re breaking that circle here by crushing good quality parts. We can’t process them quick enough in six months.”
Steel prices unlikely to go up in November: SAIL chief
Consumers bought nearly 700,000 new vehicles in late July and August through the program, taking advantage of rebates of up to $4,500 on new cars in return for trading in their older vehicles. Congress tripled the size of its original $1 billion price tag because of the program’s popularity.More