Car Dealers Survey: Cash for Clunkers a Failure

Car Dealers Survey: Cash for Clunkers a Failure

In a survey of nearly 800 dealers,

  • 97% of dealers who responded, say the government is not reimbursing fast enough
  • 13% of dealers have dropped out the program because the government is not reimbursing fast enough
  • 87% percent of dealers are concerned the money will be exhausted
  • 3% of CARS program deals have been reimbursed
  • 66% of dealers have not received one payment from the government
  • 25% of dealers are experiencing severe cash flow problems that require short-term loans to alleviate
  • 11% of submitted applications have been approved (though dealers still are waiting for the money)
  • 16% of submitted applications have been rejected
  • 55% of dealers are not confident they will get reimbursed for every deal
  • 40% do not want the program to continue, even if changes are made to the CARS program

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