NADA wants the CARS Program Stopped - Funding Depleted

[XDCX]

The NADA has contacted the NHTSA and recommended that the CARS Program be stopped because their surveys suggest the entire $3 Billion is almost spent.

A report in Automotive News quotes a NADA official suggesting that the CARS program should be stopped very soon - perhaps as early as midnight tonight.

It's unfortunate that this program has been so poorly managed. The idea was good but the administration was horrible. :mad:

[SHACOS]

A lesson I've learned from working with the federal government on military base construction projects. It takes forever for the government to acknowledge you need the money, but only a couple of hours to actually issue the payment.

So, I'd say the administration seems average for the fed. :)

[XDCX]

The NADA's warning dealers that the CARS program does not guarantee payment once the program's funds have been depleted.

To the extent that no one knows how many claims are outstanding there's the possibility that a dealer wouldn't be paid for "clunker" deals sold after this date.

NHTSA has been conducting their own surveys in an effort to determine how much of the $3 Billion CARS funding is left but they have not issued a statement concerning when the program will end.