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Old 07-30-2009, 11:08 AM   #1
JimHallFamilyFord
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Family Ford Flemingsburg, KY. Small but steady. Found out today that 96 million has been paid on CFC, however, cannot find results about NADA poll from fax yesterday. Does anyone know how many cars have yet to be paid?
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Old 07-30-2009, 11:37 AM   #2
SHACOS
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Welcome aboard!
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Old 07-30-2009, 12:40 PM   #3
lsx only
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welcome aboard
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Old 07-30-2009, 01:14 PM   #4
XDCX
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Welcome to DealershipForum.com - it's always nice when someone posts an introduction.

In answer to your question, there was a story on the Automotive News website that clarified that the $96 Million is just payment "requests" - not the actual amount that has been paid.

My bet is the $1 Billion is going to go fast. There have to be thousands of CARS deals out there that have not been input into the system because of the server problems they've been having.

Quick question - How did you find out about the site?

Thanks again for the introduction and I hope you'll become a regular contributor.
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Old 07-30-2009, 02:31 PM   #5
SHACOS
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I'm listening to the Lithia conference call and Sid was anticipating the money to gone by mid-August and pushed for another $9 billion.
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Old 07-30-2009, 05:40 PM   #6
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Quote:
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I'm listening to the Lithia conference call and Sid was anticipating the money to gone by mid-August and pushed for another $9 billion.
It sounds like Sid made the right call, if anything it looks like the CARS program may run out of money by the end of this month.

My bet is there's a good chance the program will get expanded, but I think he's dreaming if he thinks Washington D.C. is going to come up with another $9 Billion.
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Old 07-30-2009, 06:44 PM   #7
SHACOS
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This program is sure energizing the car industry. Plus, it's probably one of the fastest ways to get money directly into the economy. What's looking better now, stimulus construction projects or stimulus car sales?
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Old 07-30-2009, 06:49 PM   #8
XDCX
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This program is sure energizing the car industry. Plus, it's probably one of the fastest ways to get money directly into the economy. What's looking better now, stimulus construction projects or stimulus car sales?
That's an excellent point.

I just read a Wall Street Journal story where they commented that CARS has been the most effective stimulus program since the recession began.

They further pointed out that the sales tax revenues generated by the new car sales will provide a needed boost to local government budgets too.

Logic dictates that CARS should get more funding. Sadly, logic and politics don't always go hand in hand.
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