Cash for clunkers

[PLYMCO_PILGRIM]

http://www.nytimes.com/2009/07/31/business/31clunkers.html?em

So they did real good with planning out money for cash for clunkers. So good it is out of money months before the program was set to end.

This does not instill much confidence in me to let the SAME EXACT congress and administration who created this plan get involved in my health care.

 

[pete]

Mine either, but I pay for my own and dont look for handouts.

 

[Emma]

The program, formally known as the Car Allowance Rebate System, was scheduled to be offered until Nov. 1, or as long as the money was available. But the program was so successful that it has exhausted all the money allocated within the first week. Dealers have submitted applications on behalf of consumers seeking rebates on about a quarter-million vehicles.

From the dealers’ point of view, the program was a resounding success.

“Two hundred and fifty thousand vehicles in four weeks?” Mr. Wood said. “One word comes out of my mouth: Wow.”

From your link.

 

[strollingbones]

heads up pilgram...already a thread on this...you need to kinda check before you post a duplitcate thread....you being so picky about where threads go and all....i just thought i would point that out.

 

[Ravi]

The program, formally known as the Car Allowance Rebate System, was scheduled to be offered until Nov. 1, or as long as the money was available. But the program was so successful that it has exhausted all the money allocated within the first week. Dealers have submitted applications on behalf of consumers seeking rebates on about a quarter-million vehicles.

From the dealers’ point of view, the program was a resounding success.

“Two hundred and fifty thousand vehicles in four weeks?” Mr. Wood said. “One word comes out of my mouth: Wow.”

From your link.

Pretty good demonstration of the stimulus money stimulating the economy, isn't it?

It is a little scary thinking of all the dying people coming out of the wood work to be cured if they can actually afford health care in the near future.

 

[PLYMCO_PILGRIM]

heads up pilgram...already a thread on this...you need to kinda check before you post a duplitcate thread....you being so picky about where threads go and all....i just thought i would point that out.

Damn i searched and didn't see it come up in my results.

Thank you


I picked the NY times article for a reason guys, it was one of the only ones that had the other information in it....the rest were of this style

http://www.foxbusiness.com/story/markets/cash-clunkers-program-suspended-cash-runs/

 

[Midnight Marauder]

Get ready for the next big bailout -- 100,000 or so lackeys who traded in their perfectly good vehicle in "Cash for Clunkers," who signed a loan they cannot afford, cannot make the payments and have the Repo man breathing down their necks. Dems will scream "predatory racist lending!!!" and Obama will try to get Congress to send them another few billion for that, (Repo prevention) and re-start c4c with another 20 billion since, as they will say, "it was so successful."

Meanwhile the lenders will get hosed....

Watch and see....

you mean i didnt have to pay for the new car....the one i didnt get cause i cant afford it?

this program has pissed me off since the start......why dont i get a new car....and big bucks.....o cause i had the sense to buy a car that gets 28 mpg .....

Hell Bonez.... Not only does my truck not qualify, it's also got higher book value than the $4500 rebate! Not that I would ever want to replace it anyway, but you see where the flaws are in this deal.

If your vehicle is at or near the $4500 rebate in value, the dealer simply will give you that and NO trade in credit! So, it's a push unless your vehicle is truly a junker anyway.

 

[strollingbones]

mine is truly a clunker....4500 would be nice...but alas with the underemployment i wont go into debt for something i dont have to have....i made car payments one time...i dont like that....but you could have given me a heads up that i could buy it and not pay for it...sillie me...i keep thinking my word is good....how old school to think a handshake is contract.....i must get over that....

 

[Xenophon]

Running out of money for BO's programs will be a popular theme in the days ahead.

 

[Midnight Marauder]

but alas with the underemployment i wont go into debt for something i dont have to have

Remember, Pelosi and company call that "funemployment."

....i made car payments one time...i dont like that....but you could have given me a heads up that i could buy it and not pay for it...sillie me...i keep thinking my word is good....how old school to think a handshake is contract.....i must get over that....

1989, last time I had any car payments. Learned to buy them much cheaper after they're a year old, and just pay cash.

 

[strollingbones]

1986...brand spanking new subbie...hatch back and i only got that...cause the dumbass salesman took my deposit then sold my first pick to someone else...didnt figure a dumb little redneck like me...would know anything about contracts and deposits....i had the upgraded car that day just like the contract with him said i would...matter of fact they drove it the hour or so to me....amazing what car salesmen will do when their dick is caught in their zipper

 

[strollingbones]

i read some story about a guy who got a car early...turns out his choice of new car is not covered by the program...so the dealer ask him for the 4500 credit or the car back....i wonder how long he has laughed at that shit?

 

[strollingbones]

"funemployment" what the devil is that?

 

[Midnight Marauder]

"funemployment" what the devil is that?

That's their euphamism for the 7 million people who are out of work and for the 10 million underemployed.

 

[chanel]

Funemployment is the Gen Y.term for living off extended unemployment benefits, mooching off their parents, and spending every dime on hedonistic pleasures. Its what all the cool kids are doing today - the Entitlement Generation. As a high school teacher I can assure you the worst is yet to come.

 

[pete]

The program, formally known as the Car Allowance Rebate System, was scheduled to be offered until Nov. 1, or as long as the money was available. But the program was so successful that it has exhausted all the money allocated within the first week. Dealers have submitted applications on behalf of consumers seeking rebates on about a quarter-million vehicles.

From the dealers’ point of view, the program was a resounding success.

“Two hundred and fifty thousand vehicles in four weeks?” Mr. Wood said. “One word comes out of my mouth: Wow.”

From your link.

Pretty good demonstration of the stimulus money stimulating the economy, isn't it?

It is a little scary thinking of all the dying people coming out of the wood work to be cured if they can actually afford health care in the near future.

This is not a fix ... its a freaking band aid.
If the free money from the gov err I mean us wasnt there these people wouldn't be purchasing a new vehicle. Id like to see WHO all purchased one ... that'd be interesting.

 

[MaggieMae]

The plan worked to serve two purposes:

1 to stimulate new car sales; and

2. to get people out of gas guzzling clukers and into more efficient cars.

Is it working?

I don't know.

What do the car sales look like, and how many gas guzzlers have been traded in to take advantage of this program?

Anyone actually have any figures on this?

Bloomberg is always the first to post numbers. TSA will continue to honor contracts, but the program has been a HUGE success.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aWKYBKED5EKI

The National Highway Traffic Safety Administration, which is running the program, said yesterday that 22,782 vehicles worth $95.9 million had been sold.

 

[Darkwind]

So, the first billlion dollars have been spent on global warming. Any bets on how long it will be before we see any results? I mean, this will stop global warming in its tracks, right?

Another fine program brought to you by the US Government. </sarcasm>

 

[PoliticalChic]

The plan worked to serve two purposes:

1 to stimulate new car sales; and

2. to get people out of gas guzzling clukers and into more efficient cars.

Is it working?

I don't know.

What do the car sales look like, and how many gas guzzlers have been traded in to take advantage of this program?

Anyone actually have any figures on this?

Absolutely right.

The theoretical aspect of the program worked correctly.

It was expected to do what it did: encourage the pruchases, and, essentially be a 'targeted tax refund.'

Now, I would have liked to see the Dems support an across the board cut, but Dems like to use the money to make sure that folks do what the Dems want them to do. It worked this time.

Even in times like these, there are approximately 1 million sales per month, so the cash-back was expected to stimulate about one weeks buys. It did.

Now, if I were in charge, I would have done this and the same for homes instead of the Stimulus Pkg, but at this point I would continue the program.

 

[oreo]

If they've gone through 1 billion in six days I'd say the program was working. People are buying new cars.

My son's car missed the mpg cutoff by 1.

From what I am hearing very few got any cash for their clunkers. I am listening to a car dealer now. The paper-work & applications were done--according to him from a very long application that needed to be approved BY THE GOVERNMENT--"of course".

According to him--the only ones they now have to give cash to are the ones that have already been approved by the government. Meaning they stopped the program--before it EVER actually took off.

Subsidizing stupidity--brought to you by a very incompetent--big wreckless spending government.

Apparently Obama is up there right at this exact moment trying to find bi-partisan support to FUND this program--LOL

Dog-gonnit--I was going to haul one my junkers down to the car dealer--expecting to get my $4500 (from all you hard working taxpayers out there.) Just when you think your ship has come in--the federal government moves the dock again.