Farewell to the used car market?

[Just_A_Guy]

OK, the thread title is hyperbole. But did anyone else catch this tidbit in President Obama's latest speech?

[Seanette]

The mind boggles.

[Palerider]

I knew it....that liar Pres Bush made me keep my old gas guzzler car...lets see....Bush caused all thats wrong with the world now....hurricanes....9/11....made me keep my old cars....

[pam]

Almost sounds to me like I will have to rely on walking when my "used" car gives out on me. There is no way possible I can afford a new car. Maybe the black market on a used car?

[Jbs2763]

i heard something in the stimulus pacakge along these lines, if you are the titled owner of a 10+ yr old used car...you get a 10,000 "trade in credit" on a new american build car...(brand, not built, the only cars made in america are hondas and toyotas, chevys and fords are made in mexico and canada lol

[miztrniceguy]

"They've passed a moratorium on brains" Francisco D'Aconia

Edited June 3, 2009 by miztrniceguy
correct quote source

[miztrniceguy]

i heard something in the stimulus pacakge along these lines, if you are the titled owner of a 10+ yr old used car...you get a 10,000 "trade in credit" on a new american build car...(brand, not built, the only cars made in america are hondas and toyotas, chevys and fords are made in mexico and canada lol

I didn't know Missouri was part of Mexico.

[john doe]

Almost all the Nissans built for the American market are built in America

[Jbs2763]

I didn't know Missouri was part of Mexico.

last i checked..mexico was in MO

[Prodigal_Son]

Hey, we're letting him print money on demand, so why would anyone worry about a piddly 10 g's being doled out?

[john doe]

I'm waiting for next year when he realizes we have to pay all that money back.......

[miztrniceguy]

last i checked..mexico was in MO

the ford plant is in gladstone,mo...not mexico, mo

[hordak]

i heard something in the stimulus pacakge along these lines, if you are the titled owner of a 10+ yr old used car...you get a 10,000 "trade in credit" on a new american build car...(brand, not built, the only cars made in america are hondas and toyotas, chevys and fords are made in mexico and canada lol

Do they have to run (not salvage title) and is there a "one coupon per person" deal.

"I'll take 5 Explorers , one in each color, and you can cut me a check for the rest."^_^

On a serious note i don't think the environmentalist/ politicians know what it is like to be poor.

[Traveler]

OK, the thread title is hyperbole. But did anyone else catch this tidbit in President Obama's latest speech?

The flaw of course is a poor understanding of economics. Even if someone was given $2000 for their old car that is paid off and in good running order the cheapest new cars is a minimum $12,000. This leaves $10,000 loss that could have been used for other things. Then take into account that the greatest deprecation on cars is during the first 2 years and often among the cheaper cars.

Add to this the fact that older well maintained cars are more environmentally friendly than newer poorly maintained cars and in the end nothing of agreed value will be achieved. This kind of false economic infusion into the economy is a worse disaster waiting to happen than the current problem. But it will allow the spin doctors the latitude to blame it all on someone else’s policies.

The Traveler

[Misshalfway]

This is a frustrating thing for me. Wouldn't I love to go out and buy and environmentally friendly car for my family! But HELLO!!!!! they are some of the most expensive cars not to mention the fact that most are not big enough for my family. AND he wants us to do this while the economy is sluggish? We are suppose to buy new cars AND bail out the universe too!!! How much money does he think America has?????

So, if Obama wants us all to drive better cars, he is going to have to do more than throw me a couple of bucks to offset my cost.

Edited June 3, 2009 by Misshalfway

[Dravin]

The flaw of course is a poor understanding of economics. Even if someone was given $2000 for their old car that is paid off and in good running order the cheapest new cars is a minimum $12,000. This leaves $10,000 loss that could have been used for other things. Then take into account that the greatest deprecation on cars is during the first 2 years and often among the cheaper cars.

The Traveler

Actually the '09 Nissan Versa (the base model) is advertised at $9990. Versas for everyone! Actually there would probably be enough taxes and fees to get you up and over $10K fairly easy, you statement made me curious so I did a quick look.

Of course if you don't want a Versa your statement applies, most bottom tier sedans and the like are in the 12K range.

[Just_A_Guy]

i heard something in the stimulus pacakge along these lines, if you are the titled owner of a 10+ yr old used car...you get a 10,000 "trade in credit" on a new american build car...(brand, not built, the only cars made in america are hondas and toyotas, chevys and fords are made in mexico and canada lol

Haven't followed up on this like I should, but does that mean I can trade in my '96 Toyota Corolla (which still gets 34 mpg) and get $10,000 towards my new Dodge Ram?

[Bob_Blaylock]

Actually the '09 Nissan Versa (the base model) is advertised at $9990. Versas for everyone

Looks like something that might be useful to carry around as a spare on a real car.

[talisyn]

This is a frustrating thing for me. Wouldn't I love to go out and buy and environmentally friendly car for my family! But HELLO!!!!! they are some of the most expensive cars not to mention the fact that most are not big enough for my family. AND he wants us to do this while the economy is sluggish? We are suppose to buy new cars AND bail out the universe too!!! How much money does he think America has?????

So, if Obama wants us all to drive better cars, he is going to have to do more than throw me a couple of bucks to offset my cost.

But that's why he's floating this idea, it helps the auto manufacturures, the auto workers, those who ordinarily couldn't afford a new vehicle, and the enviroment, all in one simple program. I almost wish my car didn't get 35 miles to the gallon

[drjme]

But that's why he's floating this idea, it helps the auto manufacturures, the auto workers, those who ordinarily couldn't afford a new vehicle, and the enviroment, all in one simple program. I almost wish my car didn't get 35 miles to the gallon

It helps the economy in general, buy American made (and new), I noticed in Aussie, imports are a lot more expensive than 'Aussie made', they have incentives also for buying Australian cars, and they seem to have one of the healthiest economies out of all the major ecomomies, Also New Zealand already has a policy on not importing cars any older than 10 years old, and they are VERY strict on safety inspections of cars over that age already in the country, as they do pose a higher risk to road safety as the majority are not generally well maintained.

[Moksha]

Wake me up when I can trade my old SUV straight across the board for a new small fuel efficient car. That would be something!!! :)

[lilered]

Let me see if I understand the plan correctly:

We want green cars. We don't want gas guzzlers I.E. 30MPG (Good) 15 MPG(Bad). So we sign into and madate law tougher CAFE standards. Thus Americans who can't afford the additional costs of purchasing the future new green cars will instead opt to keep their old gas guzzler or purchase a newer second hand car which is also a gas guzzler.

However, for those who are bright intelligant tree huggers can at present purchase an alternate fuel vehicle such as one that burns E85 fuel. By so doing, they will free this nation from those pesky Mideastern Fuel Czars crippling our economy. There is a slight problem at present however that I am sure someone in our government will solve. Not much availability of E85 fuel, Insuffiecent Corn for food and/or fuel, and finally E85 fueled vehicles cost more at the pump to purchase a gallon of fuel as well as the mileage per gallon decreases about 20 = 25%. Oh, did I mention that the price of feed corn as well as food corn products has now doubled. Affecting all of us both at the pump and the grocery store. But hey! the Farmers are sure tickled about it.

Meanwhile, if we all rush out and purchase a new green vehicle using a different alternate fuel I am sure we will reap the benefits once they establish the necessary infrastructure to enable us to purchase the new fuels. After all, our government has such a great track record to date with success in all that they have managed to date. Just look at Social Security, Federal Highway System, Tax Code, Tobbacco Settlement, etc..

Kinda makes you giddish doesn't it in anticipation.

[mightynancy]

The linked blog entry includes "I suppose" and "this sounds like" before jumping into hyperbole.

Here's a news article (granted, it's Yahoo, LOL) that outlines the plan. Whether or not it's a good plan remains to be seen...but do y'all really believe he's coming to take your pickup away? Really? It's an incentive program, not a ban.

With Obama's Support, Congress Speeds Ahead on Car Trade-In Plan - Yahoo! News

Note to self: work harder next year teaching reading comprehension. And logic.

[Bob_Blaylock]

…However, for those who are bright intelligant tree huggers can at present purchase an alternate fuel vehicle such as one that burns E85 fuel. By so doing, they will free this nation from those pesky Mideastern Fuel Czars crippling our economy. There is a slight problem at present however that I am sure someone in our government will solve. Not much availability of E85 fuel, Insuffiecent Corn for food and/or fuel, and finally E85 fueled vehicles cost more at the pump to purchase a gallon of fuel as well as the mileage per gallon decreases about 20 = 25%. Oh, did I mention that the price of feed corn as well as food corn products has now doubled. Affecting all of us both at the pump and the grocery store. But hey! the Farmers are sure tickled about it.

And I am given to understand that most ethanol production results in more petroleum-based fuel being consumed to produce the ethanol than what is later replaced by burning the ethanol in place of petroleum-based fuel.

[Hemidakota]

OK, the thread title is hyperbole. But did anyone else catch this tidbit in President Obama's latest speech?

First answer, how many of us do listen to this person? Second, used cars will be around as long there is a demand by the consumers.