Ok media, it's time to expose what the dealers are going through. It is August 12th ... Cash for Clunkers "officially" started July 24th and LESS than 2% of the dealers have been PAID! 80% of the submissions have been REJECTED!! This is all according to an alert that just went out to the Alabama Dealer's Association today.
There are less than 300 people working on this project! http://www.cashforclunkersfacts.com/bill/citigroup-underestimated-c...
Cash flow is going to become a MAJOR BURDEN. $4200 X 50 = $210,000. $4200 X 100 = $420,000. This is the cash that many stores have waiting in review.
Go to www.dealerrefresh.com
and look at the frustration of the dealers as sooooo many deals keep getting rejected for bogus reasons. Mr. Govt. ... we the Dealers deserve better treatment. Something needs to be done in the NEXT 48 HOURS to correct this situation. 2% is UNACCEPTABLE and an 80% rejection rate is just making for an even bigger backlog.
If we "attempt" this program in healthcare, the patient is going to die while he is still filling out paperwork. Hey media ... the car dealers could really use your help in exposing this travesty. We need to get the word out NOW so they can straighten out this mess immediately.