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Clunkers program causing fines

Published: Sunday, September 6, 2009 1:07 AM CDT

SPRINGFIELD, Mo. (AP) -- Missourians who participated in the federal "Cash for Clunkers" program could be in danger of state fines.

The state Department of Revenue said some customers left their dealer's parking lots without the paperwork needed to register and title their new vehicles.

If they don't register the vehicles within 30 days, they could be fined $25 per month, or up to $200.

Dealers in many cases have held on to the paperwork until the government reimburses them for the rebate payments they gave to consumers. Those requests have gotten delayed.

Some dealers say they'll reimburse shoppers for any late penalties.


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boscoe wrote on Sep 10, 2009 10:23 PM:

" Did Anyone Run the Numbers? That thought just did not enter into their GREAT MINDS. A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline. A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year. So, getting rid of each average clunker will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles so that's 224 million gallons / year. That equates to a bit over 5 million barrels of oil. 5 million barrels of oil is about of one day's US consumption. And, 5 million barrels of oil costs about $350 million dollars at $75/bbl. So, we all contributed to spending *$3 billion* to save $350 million. "

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online_editor wrote on Sep 9, 2009 10:15 AM:

" two_cents: That's incorrect. This advisory from a local CPA firm says it's excluded. Check it out here. "

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two_cents_worth wrote on Sep 9, 2009 7:48 AM:

" Here's a hidden little gem I read about a while back...
That cash for the clunkers program will have to be claimed as taxable income on their next tax return. SUPRISE!

I didn't get a chance to search further into this, so if I'm wrong, please correct . "

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hmarie775 wrote on Sep 8, 2009 10:23 PM:

" The clunkers program helped with trade in values but you still had to pass a credit check to get financing for your "new" car...they didn't just give out loans to anyone especially with the tightened down credit market. I know several people who tried to use the cash for clunkers program but were turned down for financing. Most of the people I know who were approved were people that have good incomes but were just hanging on to an older vehicle. "

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thnkr wrote on Sep 8, 2009 11:55 AM:

" I think you're exactly right. This whole program sounds like Fannie/Freddie and the community reinvestment act. Wait for the auto bubble to pop. Another example of misguided politicians interfering with the free market to advance their agenda. Back then it was minority homeownership and big time campaign help, now it's pushing their 'green' agenda and bailing out the UAW. Will they ever learn? I can see it now...' We've developed a comprehensive program to help keep people in their cars. ' "

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Travelin_Rose wrote on Sep 8, 2009 8:15 AM:

" Wait about 6 months and many of those vehicles will be repossessed. If the Missouri tax wasn't rolled into the car payment, the state isn't going to get any money from some of these people. "

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