Car Dealers Will Get Clunkers Money, Transportation Secretary Says

Bloomberg: “They’re going to get their money,” Transportation Secretary Ray LaHood said at a press conference today in Washington. “We have the money to provide to them.” The plan offers buyers discounts of as much as $4,500 to trade in older cars and trucks for new, more fuel-efficient vehicles, and the U.S. is to pay back dealers. Representative Joe Sestak, a Pennsylvania Democrat, said last week the effort has so far paid retailers for only 2 percent of their claims, adding to strain on those weathering a slump in sales.

August 19, 2009 at 6:44 pm - Bloomberg
Dateline: Washington DC

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Jordan   August 20th, 2009 - 11:50 am

Yeah right. The NADA confirmed if the money runs out, they will not get paid.

http://www.cardealerreviews.org/?p=116533

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