Winston-Salem car dealer Tracy Myers is protesting the Cash-for-Clunkers program by putting up his own money as a cash incentive for customers to purchase quality used cars, a provision the fed program doesn’t allow. But, as Myers points out, “when my money for incentives is gone, it’s really gone.”
Another Winston-Salem dealer supports Dennis Miller’s theory that the clunkers program will be the “mortagage crisis redux” in a few months:
Rusty Rollins, the owner of Bestway Motors in Winston-Salem, said they expect a wave of vehicle repossessions in the next three to nine months.
“Logic tells you that many of these customers were driving clunkers for a reason — they couldn’t afford a much better car,” Rollins said. “They may be getting a great deal up front on a new car, but they’re also facing a hefty new-car payment.”
For what it’s worth, North Carolina’ senators split on the vote to add an extra $2 billion to the program. Do I even need to say who voted ‘yes’?
