Cash for Clunkers

[MorningStar]

Earlier this year they were trying to give themselves a raise and I believe they got it.

Congress Doesn’t Vote, Gets a Pay Raise | Cato @ Liberty

Aw, poor guys. It must be really hard for them with the cost of living increasing. I bet they would curl up into the fetal position if they had voted themselves a 28% pay cut like my dad just got (who is a year or so away from retirement).

[Guest]

What type of vehicle are you driving and which vehicle are you looking to purchase?

I'm not looking to purchase a car. Oh no. I have an already paid for 2003 GM Cadillac CTS. It is 7 years old with over 105,000 miles on it and it is starting to clunk (GMs just doesn't last as long as Toyotas... just fact), but I'm going to be driving this car to the ground as I cringe everytime I think of putting $300 a month on car payments again... even if this car would qualify as a clunker, which unfortunately or fortunately however you look at it, it doesn't.

[prisonchaplain]

Raw #s...4 billion divided by $4500 means somewhere between 70K and 100K new cars will be sold. That's probably the bottom line goal. Getting rid of clunkers was a feeble bow to the green crowd. The environmentalists have to smile and take this bone, because at least he allowed them to save face on this.

[Hemidakota]

I'm not looking to purchase a car. Oh no. I have an already paid for 2003 GM Cadillac CTS. It is 7 years old with over 105,000 miles on it and it is starting to clunk (GMs just doesn't last as long as Toyotas... just fact), but I'm going to be driving this car to the ground as I cringe everytime I think of putting $300 a month on car payments again... even if this car would qualify as a clunker, which unfortunately or fortunately however you look at it, it doesn't.

I am on my third Chevy Astro van. The last one went 490,000 miles before I sold it to a friend. Previous Astro went over 200K and the current one is on 155,000 miles. Now, what was the story comparing a Toyota with a Chevy?

But I do agree on making any payments. I cringe myself when I know my wife wears out vehicles with high mileage.

However, the program is very successful and auto manufacture will make advancement on sales. What will happen after will be a different story.

[KrazyKay]

I also cringe at the idea of having to make car payments. My last Chevy S-10 (which was a 1995) went to just over 300,000 miles before I sold it. My current Chevy S-10 (which is a 1998) I've only had for about 1 year, paid 100% cash when I bought it so I would have no payments and it currently has 60,000 miles. I'm expecting this truck to last me at least 5 to 10 more years :)

[boyando]

Raw #s...4 billion divided by $4500 means somewhere between 70K and 100K new cars will be sold. That's probably the bottom line goal. Getting rid of clunkers was a feeble bow to the green crowd. The environmentalists have to smile and take this bone, because at least he allowed them to save face on this.

PC, your not doing government math. Probably closer to 20K. And the ones running the green crowd don't care if it saves a little fuel and pollutes a little less, because there is no money in it for them.

It's mostly a dog and pony show, to make people feel like things are getting better. I once had a friend who love to bait me into conversations were he thought he had all the answers. He once made the statement "we all can't be driving Ford f350's" (a rather large pickup truck), I looked at him and asked (with a serious look and tone in my voice) why not. Why not if we all choose that vehicle or if we all choose any other vehicle. This is the kind of guy who likes the cash for clunkers program. This is also the kind of guy (or girl) who will often repeat the same seven little words over and over again; well, we have got to do something.

In America, you are suppose to drive any vehicle you want, if you can afford it. And if you can't afford it, and you want it bad enough,you should be able to go out and earn enough too do so. And guess how that has worked out, so far, in the past? We all don't drive Ford F350's.

I guess we got the change that out President promised. Anyone still got a little hope they want to share? I mean besides the .1% drop in the unemployment numbers.

Edited August 10, 2009 by boyando

[Prodigal_Son]

Um... I own an F350... what does that say about me?

[boyando]

Um... I own an F350... what does that say about me?

It say's you like big trucks.... and I bet you like to haul things.....or you use it for work. It also say's that you are OK with you self...man enough to do things that need to be done....want to make sure that you have a truck that will survive the second coming........your cool.

[Prodigal_Son]

It say's you like big trucks.... and I bet you like to haul things.....or you use it for work. It also say's that you are OK with you self...man enough to do things that need to be done....want to make sure that you have a truck that will survive the second coming........your cool.

Awwww, shucks.

I own an F350 because I carry 3,500# of chemical in the bed of my truck all the time and tow a trailer (and it can fit all 6 of my family for the odd occasion when the Suburban isn't an option).

Even more importantly, I drive an F350 because I managed to find a construction company selling a one ton, crew cab, longbed truck with only 58k miles on it for $5,000 (that was like half price, for those of you who don't do trucks). THE PRICE WAS RIGHT, BABY!

[Hemidakota]

PC, your not doing government math. Probably closer to 20K. And the ones running the green crowd don't care if it saves a little fuel and pollutes a little less, because there is no money in it for them.

It's mostly a dog and pony show, to make people feel like things are getting better. I once had a friend who love to bait me into conversations were he thought he had all the answers. He once made the statement "we all can't be driving Ford f350's" (a rather large pickup truck), I looked at him and asked (with a serious look and tone in my voice) why not. Why not if we all choose that vehicle or if we all choose any other vehicle. This is the kind of guy who likes the cash for clunkers program. This is also the kind of guy (or girl) who will often repeat the same seven little words over and over again; well, we have got to do something.

In America, you are suppose to drive any vehicle you want, if you can afford it. And if you can't afford it, and you want it bad enough,you should be able to go out and earn enough too do so. And guess how that has worked out, so far, in the past? We all don't drive Ford F350's.

I guess we got the change that out President promised. Anyone still got a little hope they want to share? I mean besides the .1% drop in the unemployment numbers.

You are right, things are not getting better as the Secretary of Treasure stated this week and few government watchdogs are saying the same. Government sponsor programs will eventually run out of monies and then what? As I stated when this president was elected, wait until he reaches the fourth year in office and who will be there in supporting this man.

[Guest Believer_1829]

This is why I love the American people...

SPIN METER: $3 billion buys not-so-green vehicles - Yahoo! News

[Guest]

The more information I read about the Cash for Clunkers, the more it builds my belief that we just poured $4B of our children's money down the toilet.

[Maxel]

The more information I read about the Cash for Clunkers, the more it builds my belief that we just poured $4B of our children's money down the toilet.

It's Obama's way! All hail the Debtor in Chief!

To be sure, Bush wasn't much better.

[boyando]

The more information I read about the Cash for Clunkers, the more it builds my belief that we just poured $4B of our children's money down the toilet.

I laughed out loud to avoid crying.

[Just_A_Guy]

The numbers are in.

The winner is . . .

foreign automakers.

[Maxel]

Ouch...

I hadn't even thought of the effect C4C would have on the car parts industry.

Epic Fail.

Edited August 28, 2009 by Maxel
Fixing typo. Cursed affect/effect...

[talisyn]

It got people to spend money they otherwise would have held on to. And do you know how many 'foreign' cars are made in America? lol

[Just_A_Guy]

It got people to spend money they otherwise would have held on to. And do you know how many 'foreign' cars are made in America? lol

Fair point about "foreign" cars being manufactured in America. And since lots of those foreign-owned US plants aren't unionized, it's still a fail for the UAW.

As for "spend[ing] money they otherwise would have held on to": let's not kid ourselves. They borrowed money they otherwise wouldn't have borrowed. That money will have to be paid back. All the President has done is prolong the inevitable with another macroeconomic accounting gimmick.

[john doe]

Add to that equation the question of how many of those buyers would have bought new cars anyway within the next 6 months. Automakers overall don't expect this giveaway to be much more than a blip on the radar when all is said and done. The expectation is that sales for the year may not be affected and that showrooms may be very quiet for the next while since many buyers merely moved their planned purchases forward by a few months. Plus, the dealers are on the hook for hundreds of thousands each waiting for the government to approve their claims and pay them back. The dealers need that money and many are borrowing (and paying interest on it) to keep their doors open until they get paid. Compound that with the fact that the dealers now need to buy cars to replace the ones sold off their lot, but may not get financing because they are on the hook for the Clunkers they have not been paid for. This is dangerous financial territory for a dealer to be in.

[Hemidakota]

Sad part of the amount purchases on either Honda or Toyota would of placed them in a monthly lost of 50-percent or greater if there was no clunker program. But at least, this program has merits, it should of been, any vehicle made in the USA and not foreign lands. This does include our own three domestic models.

[Guest]

This is REALLY sad. #7 is Toyota Prius. Supposedly a much better choice than a clunker. Whatever. I'd rather buy a BMW M3 - much more economical for my driving style.

YouTube - Toyota Prius vs BMW M3

This just goes to show how people buy Prius' because the government said so. SUCKERS!