Cash for your Clunker? (to buy, real estate, actor, companies) - City-Data Forum

Dbl-r · 08-03-2009, 05:00 AM

Did you get any or anyone you know cash in on this program?
Has it helped as it was designed

I wonder, a billion dollars used up and we need more

Sure its brought a heartbeat back to the struggling auto industry possibly but how about that struggling consumer, has it really helped them any?

Who has really received a benefit from this?

your thoughts

Granny Sue · 08-03-2009, 05:22 AM

I just looked up the info because we considered trading in hubby's truck....

We found out the his 1991 Ford F150 gets better gas milage than what the news ones do......I think we're gonna notify Ford and crow a bit lol.

tasmtairy · 08-03-2009, 05:52 AM

I looked mine up at cars.gov and it qualifies, it is rated at 17mpg. It has to be less than 18 combined. Yes I am looking into it as my truck is a 1996 Ranger.

younglisa7 · 08-03-2009, 05:57 AM

I think it is a farce. Another scam to help the flagging "government" owned auto industry. So much for Capitalism in our country. It's great for people who can benefit but I would not buy GM or Chrysler. Why should they get more help when they ran their companies into the ground and now the people have to pay for it in the future.

Sorry for the rant. No I don't know anyone who is using it. The program is already in debt and they are looking for "more" money.

Yup just like the government. Don't they ever think?

Kerowyn · 08-03-2009, 06:00 AM

My 15 year old honda didn't qualify. still I traded in for my mini. same MPG as the honda maybe slightly better snce I tend to improve MPG with my driving habits.

I just wonder what they will do with all those clunkers. I don't think they will hit the resale market. Do we ( the US) have a good auto recycling situation like England did with thier auto trade in?

Magnum Mike · 08-03-2009, 07:04 AM

Quote:

Originally Posted by younglisa7

I think it is a farce. Another scam to help the flagging "government" owned auto industry. So much for Capitalism in our country. It's great for people who can benefit but I would not buy GM or Chrysler. Why should they get more help when they ran their companies into the ground and now the people have to pay for it in the future.

Sorry for the rant. No I don't know anyone who is using it. The program is already in debt and they are looking for "more" money.

Yup just like the government. Don't they ever think?

I agree with you Lisa, it's like using a Band-aid to fix multiple broken bones.

For one thing, if somebody drives an old "clunker", maybe it's because they could not afford a new car in the first place! So encouraging them to buy a new vehicle, and giving them an incentive of up to $4,000 to get themselves into debt for a few years, and for something that depreciates in value considerbly right when you drive it away from the dealership, is definitely not a good strategy. That's not any different than what Fannie Mae and Freddie Mac did in recent years, which was a major factor that caused the disaster in the real estate market.

It'll only work if you have an old clunker that makes less than 15 MPG, and you can afford to buy a new vehicle, that's more fuel-efficient, and drive it away from the dealership without getting yourself into debt, or if you can make a 60% down payment on it, and pay off the loan in less than 2 years.

tasmtairy · 08-03-2009, 07:28 AM

They have to dismantle the vehicles, and crush them, wonder where all that trash goes? I am looking into it because it may be the only way I can afford a new car. Or I can keep my 13 yr old truck and replace the engine when time comes.

Crew Chief · 08-03-2009, 07:46 AM

Sorry, but I think "Cash for Clunkers" is wrong on SO many levels.

First, we can make OUR car payments on a new car, so we bought one. Without government help. Whu do we have to help someone who probably shouldn't be buying a new car anyway???

The idea that perfectly good cars are being detroyed bothers me immensely. Both as an old car enthusiast and as someone who sees keeping perfectly good transpotation from people who would be better suited for a "clunker" than a new car AND the accompanying payments.

Younglisa's right on the money; why should "We the People" be aiding and abetting this Government Motors" scam, anyway....

Dbl-r · 08-03-2009, 07:47 AM

Quote:

Originally Posted by Magnum Mike

I agree with you Lisa, it's like using a Band-aid to fix multiple broken bones.

For one thing, if somebody drives an old "clunker", maybe it's because they could not afford a new car in the first place! So encouraging them to buy a new vehicle, and giving them an incentive of up to $4,000 to get themselves into debt for a few years, and for something that depreciates in value considerbly right when you drive it away from the dealership, is definitely not a good strategy. That's not any different than what Fannie Mae and Freddie Mac did in recent years, which was a major factor that caused the disaster in the real estate market.

It'll only work if you have an old clunker that makes less than 15 MPG, and you can afford to buy a new vehicle, that's more fuel-efficient, and drive it away from the dealership without getting yourself into debt, or if you can make a 60% down payment on it, and pay off the loan in less than 2 years.

And to your point I just wonder who exactly has taken advantage of the program? has it really benefited anyone who is struggling in these economic times? Rumor has it that we've already blown thru over a billion dollars on the program and they are looking for another two billion more

Where is the watchdog on this? who is monitoring this program and its success if any?

Kerowyn · 08-03-2009, 09:32 AM

I can see both the good and the bad of the deal. it should stimulate the ecomony with more people using financing... but also put a damper on it since some of folks might not be able to afford the financing. worst part is locally some of the worst car dealships will end up overending many of those poor souls. how that helps the economy I don't know.

also i like the idea of less gas guzzlers and ugly crap cars off the road or out people yards.