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Does Cash For Clunkers Offer Support for Conservative Viewpoints?
No, because a liberal Democrat came up with it- or copped it from Germany.
Had a Republican done the same, it would be the Democrats complaining about it.
Cash for old cars is not a new idea, it's been kicked around at the state level in the past but, to help reduce pollution and for not as much money too. California had a program my brother took advantage of and it must have been at least 5 years ago. Here's an article from 7/1/08 talking about it:
Hmmm... the Cash for Clunkers money is considered when financing is arranged, is it not? What about that extra money would not reduce the loan to value risk to the lender?
I'm sorry, but we're talking NEW cars here.... I have very little sympathy for a bank that forks over a $9K loan (probably the cheapest possible for a new car less the $4500) on a shoddy credit risk... Again, it ain't the fault of the program.
It also isn't as though the banks are living inside a bubble shielded from outside news. Dontcha think they're aware of the CFC program?
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Originally Posted by InformedConsent
Only true if the Cash for Clunkers program was not providing any of the money involved in the purchase of the new car.
Again, the banks aren't operating inside a vacuum here, and we aren't talking chump change... Look at the people's credit, job history, and current delinquencies and find out if they're worthy to lend to....
I dont' care if it's for $9K, or for $30K. A bank needs to do this and it isn't the CFC program's fault if they don't.
Quote:
Originally Posted by InformedConsent
Do you really think the way out of a debt-overload induced economic crisis is to pile on more debt?
It is my opinion that we're spending our way toward putting off the inevitable economic crash and eventual value reset on items from autos to houses to gasoline to bread....
I'm not really here to champion big spending, nor am I going to discount it until it's an obvious failure.... All I know is we'd BEEN spending big on out of country concerns. NOW we're spending on OUR country's concerns.
I'm willing to give it a chance. Fiscal irresponsibility? Well, as I recall there's been only one President who balanced the budget in my lifetime and he wasn't a Republican. So I'm going to give the Dems a chance before I b***h and moan about their policies.
Completely missing the point that part of the purpose of this program is DESIGNED to get these cars off the road to promote those with better gas mileage....
The rules say you can trade a clunker in up to 18MPG for a new car getting 22 MPG.
How come you can't trade a car that got 19MPG on a car that gets 45MPG? Isn't that a better DESIGN?
I'm sorry, but we're talking NEW cars here.... I have very little sympathy for a bank that forks over a $9K loan (probably the cheapest possible for a new car less the $4500) on a shoddy credit risk... Again, it ain't the fault of the program.
I haven't forgotten, but it isn't my job to remember... I would hope the banks lending the money would. FTR Fannie and Freddie were encouraged to lend to poor risks for MUCH higher-ticket items....
CFC simply offers a rebate, it doesn't tell the lenders what decision they should or shouldn't make.
The rules say you can trade a clunker in up to 18MPG for a new car getting 22 MPG.
How come you can't trade a car that got 19MPG on a car that gets 45MPG? Isn't that a better DESIGN?
That is a whole new set of issues, so nice job of moving the goal posts.
The 18 vs 19 mpg is an issue. There are some makes where the difference in mpg is just a matter of which transmission you originally opted to buy. I would also criticize the program on several other technical issues but that isn't what is being debated here.
Really? Then I agree with Barney on this one.... So what?
The man spews as much hot air as anyone, but it doesn't mean that nothing of value ever comes out of his mouth...
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