OEM’s Helping Dealers With Cash
As the government prepares to address how the program will wind down, they have offered reassurances to dealerships stating that they will get their money. Cash flow is the issue at hand, and the OEM’s themselves are stepping in to ease the situation.
Transportation Secretary Ray Lahood stated, “We want to make sure that dealers know when we’re getting close to running out of the money that was allocated for the program.” LaHood said he recognized that “dealers are frustrated. They’re going to get their money.”
In the meantime, the auto manufacturers are not waiting for the solution, but instead providing one. Knowing that they need support of the dealer networks, companies like General Motors have begun providing cash advances to its dealers to help cover any cash flow shortfalls related to the program. GM said it will provide the advances for up to 30 days for dealers who have already completed a sale and they will be available as long as the program remains in effect. For their part, Toyota Financial Services is offering loans to dealers for up to 60 days to cover the lag between a dealership’s payment and its reimbursement. Honda, Nissan, and Ford are other big players that have also stepped up to the plate. The commitment of the OEM’s to help with the situation should help ease the burden for dealers as the government processes requests, and the program winds down.
When the announcement comes about the end of the program, we should see a virtual run on dealerships. Given the recent pace of CFC program sales, there is likely only about two or three weeks left for consumers to take advantage of up to $4,500 in rebates. Look for auto dealerships to have a very busy August.
Position – Long Sirius XM Radio
The program is officially ending this monday. Much quicker than anyone ever expected.
It’s ending & it’s been a fairly big cluster f**k.
Go ahead you geniuses hitch your horses to Mel’s wagon!!!
recondo and boo boo have such a hard time admitting when they are wrong…. 🙂
No Bobo,
YOU have that problem.
I promise you and every other cheerleader in here, that I will rub your noses in it when SIRI tanks shortly.
Jobless claims are up as well as foreclosures.
SIRI needs a recovery just to have a chance and that isn’t happening any time soon.
Sirius-XM hardware is pure crap and there is no indication that they have improved the quality of a single radio.
To the contrary, the only Sirius-XM radio worth a damn is the very old X-Act Visor.
The new dock that Sirius-XM is supposed to be releasing shortly will be typical of all of their hardware. It is guaranteed to break within a year.
Did you hear that standing in the cheese line yesterday?
BahBah is right about SiriusXM hardware.
The Sirius stuff WAS crap (it was generally agreed that XM hardware was vastly SUPERIOR to Sirius’hardware and at a better price[THAT’s a FACT!!] and I don’t expect the SiriusFM’s hardware to be any better since it’s mostly (if not all) under Mel’s control.
Still got my generation 1 SkyFi from February 2002. Only unit I’ve ever had. How many pieces of shit Sirius hardware from 2002 are still in use????
someone should tell the investors…siri is up to almost $.78 already today. 🙂
$1.00+ coming soon…
The SIRI run up is completely irrational.
What will happen is that many of you cheerleaders here, who were burned in the past, will get greedy and stick around too long.
The bottom will fall out with SIRI and in fairly short order.
Well Im in at around $.09 boo boo so once again you are wrong. I could sell now if I was an idiot and taking your advice and make a killing or wait and buy and sell you a thousand times over. I think I’ll just wait. 🙂
The Clunker Program lasted all of exactly one month and that was with an extra two million dollars pumped into it. The problem was that it was TOO GOOD a deal. Everybody, including Obama, was taken by surprise.