$4 clunkers is total consumer fraud

[strollingbones]

Even dealers, however, acknowledge that some buyers sped up their timetable to take advantage of the generous government rebate. What remains to be seen is how long the clunkers-powered sales surge lasts and how it affects car sales later this year.

............

It was estimated that the original $1 billion would stimulate purchases of 250,000 new vehicles over four months by subsidizing trade-ins of older vehicles. But consumers, Anwyl says, would normally trade in about 200,000 "clunkers" during that same time, even at the industry’s sluggish pace of late.

In that scenario, the $1 billion stimulus is generating sales of about 50,000 additional vehicles, Anwyl says, amounting to a $20,000 subsidy per sale.

Consumers who choose to wait and buy a new car in a few months will likely pay higher prices. As inventories of vehicles are sold off, they will be replaced with higher-priced new models and probably carry fewer manufacturer incentives.

...........

"If you’re not participating in the program, you’re paying for it."

Cash for clunkers: Good deal or a lemon? | Top Stories | Star-Telegram.com

the ones of us not participating...you know ...the ones that had the sense to buy good gas mileage cars to begin with...are paying for idiots...total idiots who purchased big ass suv's or man trucks....now the used car market and used parts market is taking a hit..that will be passed on to consumers like me..who use salvage yards for car parts or who buy only "pre owned" cars...smart people are triple dipping...the rebate, the sales tax incentive and then if they purchased a hybrid they get a tax credit...

what will this 3 billion dollar program result in ...5 years down the road...this money should have been used to develop an affordable hybrid or high milage gas engine...

obama has made this mistake...he has put a lot of money in a program that will result in nothing 5 years down the road....the cars will be what...clunkers...

all this program did was allow dealers to clear their inventories....that is all....and cost the taxpayers a damned lot of money....

 

[editec]

Your complaints about this program probably have merit.

But consider the merits of the program, too:

Before those clunkers would have gone back on the road;

The stimulation of the auto industry was needed and this defintiely did stimulate auto sales. This helps dealers and manufacturers and anyone involved int he auto industry (hence the economy overall)

250,000 People are now driving cars getting mileage that is 10 MPB or better..that's a huge savings in gas.

A lot of people who could NOT have puchased a decent car could.

 

[WillowTree]

as somebody pointed out on the tube yesterday,, people who cannot afford a new car are snarfing up the government money and buying a car anyway,, your idiots are creating another "bubble" first it was housing now it is "cars" in a years time congress will be in a dither about "saving peoples cars"









idiots

 

[strollingbones]

Your complaints about this program probably have merit.

But consider the merits of the program, too:

Before those clunkers would have gone back on the road;

clunkers being judged on gas mileage alone, a lot of these trade ins are kick ass compared to the car i drive...but my car gets 28 mpg...i would love to replace it with one getting 38 mpg...and get money for that...

The stimulation of the auto industry was needed and this defintiely did stimulate auto sales. This helps dealers and manufacturers and anyone involved int he auto industry (hence the economy overall)

the 3 billion could have helped revolutionize the auto industry...nope they simply cleared the old inventory....no way to convince me of anything else...on the economy overall...we shall see

250,000 People are now driving cars getting mileage that is 10 MPB or better..that's a huge savings in gas.

i will give you that..but it could and should have been a huger savings...these people should be in affordable hybrids that could have resulted from the 3 billion...i see it as only prolonging a problem...or cutting the dogs tail off a bit at a time

A lot of people who could NOT have puchased a decent car could.

how did ford survive...by doing what was needed sell new cars...

the others just took the hand out...

 

[strollingbones]

yea what does this 3 billion mean 5 years out?

 

[editec]

yea what does this 3 billion mean 5 years out?

That there will be a "5 years out" among other things, Stroll.

 

[strollingbones]

ed there would be a 5 years out ....with or without this...how can you disagree that this money should have been invested in truly benefital areas...we can not do ad hoc government forever....

 

[alan1]

as somebody pointed out on the tube yesterday,, people who cannot afford a new car are snarfing up the government money and buying a car anyway,, your idiots are creating another "bubble" first it was housing now it is "cars" in a years time congress will be in a dither about "saving peoples cars"

idiots

It might be as little as 6 months, but one year might be a good yardstick. We will start hearing stories about how unscrupulous car dealers took advantage of poor people by selling them a car they really couldn't afford ($4500 clunker rebate covered the "off the lot depreciation") and charged them excessive interest rates. These "victims" will need another government program so that they don't lose their car to the repo man.

 

[Jon]

250,000 People are now driving cars getting mileage that is 10 MPB or better..that's a huge savings in gas.

Wrong, wrong, and wrong.

You can still buy SUV's and trucks getting less mileage than the 18 required for trade-ins. If you are trading in for an SUV or truck, it only has to get 4 mpg more than what you traded in.

I personally traded in an old Blazer for a Nissan Altima. Thank you Obama for giving me money for something that was worthless, when I was going to buy the Altima soon anyway. It's nice to know that you understand economics and business so little that you support paying people for things that have no value, but it was expected, since you are going to give handouts to people who won't work for them.

 

[strollingbones]

i could trade in my old blazer...but then i would have car payments..and has anyone considered the insurance and tax increases on the purchase of a new car...you still got to tag it and pay taxes on it...no its total bullshit...why am i...as a taxpayer...paying for js's new car....


you could at least take us all for a ride there js

 

[alan1]

250,000 People are now driving cars getting mileage that is 10 MPB or better..that's a huge savings in gas.

Wrong, wrong, and wrong.

You can still buy SUV's and trucks getting less mileage than the 18 required for trade-ins. If you are trading in for an SUV or truck, it only has to get 4 mpg more than what you traded in.

I personally traded in an old Blazer for a Nissan Altima. Thank you Obama for giving me money for something that was worthless, when I was going to buy the Altima soon anyway. It's nice to know that you understand economics and business so little that you support paying people for things that have no value, but it was expected, since you are going to give handouts to people who won't work for them.

My old Silverado only gets 11 mpg. I can't decide if I want to get a new truck or not. If I could $4500 for both the Silverado and the Explorer on the purchase of a single new truck I wouldn't have a car payment.

Does anybody know if you can trade in 2 clunkers for the purchase of one vehicle?

 

[Jon]

why am i...as a taxpayer...paying for js's new car....

Welcome to the Obama Nation. I'm not a fan of this Congress and administration, but I'm not stupid enough not to take advantage of an ignorant government, either.

you could at least take us all for a ride there js

I'm game, but 3 at a time. Chris and sealybobo are not welcome. I'm going to pay for their healthcare, so their paying for my car is just a wash.

Does anybody know if you can trade in 2 clunkers for the purchase of one vehicle?

I don't believe so.

 

[strollingbones]

hey js....if i could see a future of full employment i would consider going for the clunker cash....but like many people who are buying right now....i see the higher costs of everything associated with a new car...and i am not willing to take on that payment in todays economy....

how much did it run total after rebate if you dont mind my asking..what are your payments and for how long?

 

[Intense]

Dealers are sure taking a risk paying out the rebate themselves up front, waiting on Government reimbursement. Will they ever receive it? A negotiated portion of it? Will it accrue interest? Will they end up bankrupt?

 

[strollingbones]

Dealers are sure taking a risk paying out the rebate themselves up front, waiting on Government reimbursement. Will they ever receive it? A negotiated portion of it? Will it accrue interest? Will they end up bankrupt?

good question...

 

[Jon]

hey js....if i could see a future of full employment i would consider going for the clunker cash....but like many people who are buying right now....i see the higher costs of everything associated with a new car...and i am not willing to take on that payment in todays economy....

Understandable. I'm securely employed with a huge raise (about a 30-40% increase) coming in January after I graduate, so I'm not too worried.

how much did it run total after rebate if you dont mind my asking..what are your payments and for how long?

Sticker price was $23,310, I talked them down to $22,000, received $1,500 dealer cash back, and then $4,500 rebate. My payments are around $315 over 5 years. I could have afforded to do it over 4 years, but I drive vehicles for a long time so I was comfortable with 5 year payments. I wanted to keep my payment low, because I'll be looking to buy a house later this year ($8000 tax refunds rule!). I love taking advantage of a bleeding government budget.

 

[Intense]

I'll stick with Dave Ramsey's advice. Do not buy new. Do not lease.

 

[Jon]

Do not buy new.

I've always believed in this philosophy as well, until now. My Blazer was only worth about $1000. The $3500 trade-in difference subsidizes the drive-off depreciation. So I could get a slightly used Altima for the same price I could get a brand new Altima. And since Nissans hold their values extremely well, it was the right choice.

Leasing is stupid and I want to punch people who do it.

 

[strollingbones]

come on intense...i will toss the trash out of the passengers seat into the back.....we will roll together

315 bucks for 5 years....doing math....watch for smoke....

cost 16 k after all the rebates....pay back 18,900 over 5 years...now what is insurance and taxes ...damn i am cheap...

 

[Jon]

come on intense...i will toss the trash out of the passengers seat into the back.....we will roll together

315 bucks for 5 years....doing math....watch for smoke....

cost 16 k after all the rebates....pay back 18,900 over 5 years...now what is insurance and taxes ...damn i am cheap...

My insurance is $100 a month, compared to $85 I paid on the Blazer. It was a 2 door and 4-wheel drive, which made insurance higher. Taxes were 9.5%, but I paid cash for those.