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Don't worry though, government run healthcare will be fine -- And save lots of money.
I hope they do not destroy these traded-in cars, some of them are classics and I would love to own a late '70's Caddy with the big engine...maybe some of these will come onto the used car market...hope so.
Who the heck wants to drive a Prius...have you driven one of those? It's awful!
I know someone who participated in this program. I don't know what the govt intent was, as far as if they were hoping this would bolster production for GM and Chrysler, but they bought a Hyundai, and I read an article about this that Hyundai was reaping the most rewards from this program.
We have been looking at cars, as we will be passing on our perfectly sound and well taken care of Dodge Durango to our son(and daughter if the weather is too bad to take her car) next year, but NOT now, even though we could have traded our Durango in with the Clunkers program(if I am reading the program correctly). We can't afford to take on a loan, and these have to be NEW cars. ANY new car is pricey, so I wonder if they are now creating another bubble with this. People who are not looking past the money they get towards a new car, to how much they will have to take on in loan payments, and the fact that a new car loses value as soon as you drive it off the lot.
Will the car dealers see past this temp program, or will they take the traffic increase, and assume that it will continue AFTER the program ends, so they run out to order new cars, hire more people, etc, and then they are back where they started.
Will the car companies look past the end of the program and see that this is not sustainable, and will go away as SOON as you can no longer get the money, OR, will they then ramp up production again to absurd levels.
Just seems like this will cause MORE problems than what they think it will solve.
Now you're talking...We could only be so lucky!
Ya cant pull a boat, utility trailor, snowmobile or ATV with a prius.
Cash For Clunkers flew in the face of common sense, and now, ...... Government Capping Compensation?
Giving more power to vehicles such as the SEC for example, reminds us of the abject incompetence the SEC demonstrated through the economic extravagance that allowed Wall Street the power and influence to exploit, and then erode, the financial health of the Nation.
http://pacificgatepost.blogspot.com/2009/07/gov...
NONE OF THEM HAVE LEARNED ANYTHING
Kevin,
[quote]Never let a good crisis go to waste!
-Rahm Emanuel, Obama's Chief of Staff[/quote]
Before the dealership can receive the federal funds, they must have a certificate that the engine of the traded-in car has da its engine destroyed.
in re: everything else
Barney Frank created the sub-prime mortgage crisis. Have you hear him apologize? Of course not. Bubbles? Isn't that the name of a monkey?
.
they had to be newer than 1984
they have to be destroyed. can never be sold titled or drove or parted out ... must be crushed.
if your car was worth $8,000. you would not enter into this program, you get NO trade in for the car (no $8,000.), the gov. is buying it.
New car .... 16,000.00
trade in .. 0
clunkers $ -4,500.00
amount due $11,500.00
less rebates and dealer discounts for no trade in cash sale.
If you have a clunker, you more than likely should not be buying a new car, you should be buying a used car.
this will put people in more debt than they should be going into because you have to buy a new car.
MORE OF A BAILOUT FOR CAR DEALERS ... But it was done 'stupidly' because it will end up helping foreign car makers more than domestic.
...not that it makes me feel any better about the beautiful Audi 5000 quattro and mid-90's Jeep Cherokee that were waiting for their premature deaths behind Luther Ford... or the Cadillac STS in Corwin's lot, the same car my Mom has, but in nicer shape...
Barry, you magnificent bastard!
Oh, and the $1 billion in deficit spending allocated for the program may already be used up.[/quote]
every talk show host in the nation should use this as the PERFECT example of national healthcare. free cash = takers. what does barry think will happen when you start handing out free meds?
That's how we ended up in this economic mess and why you people don't control shit anymore!
Obama has finally figured out how to spend stimulus money. [*]
Well, maybe that's good news...
--------------
[*]Remember that he has spent something like 11% of the stimulus money that was supposed to stimulate our economy this last spring!?
It,s good to see the economy getting better also.
Stock market up,home sales up and job loss slowing down,which is the last thing to turn around.This should be helped when the stimulus money that the state received gets spent on the projects they have planned.
Stock market up,home sales up and job loss slowing down,which is the last thing to turn around.This should be helped when the stimulus money that the state received gets spent on the projects they have planned.[/quote]
LOL, when you hit bottom anything that isn't a minus looks good. Tell your story to the additional 2 million people out of work in Obama's recession.
We wont see measurable progress untill Obama is gone.
And how much of that $1 billion was pissed away on advertising?
$1 billion pissed away, and a whole bunch of folks that couldn't get a car loan otherwise are now driving around in shiny new cars. Bet the repo guys are drooling right now.
That's how we ended up in this economic mess and why you people don't control shit anymore![/quote]
How's this for a solution? Don't spend my money on govt. subsidized porn and car trade-ins. We'll start there and work our way up the list.
Must be part of his plan to "create or save" all those jobs.
BTW - I heard a commercial on Quinn & Rose this morning for a cash for clunkers program at Northland Ford up in Zelienople. It sounded like they came up with their own incentive plan, not using the one the Flap-eared doofus made up. Now there's a novel idea, a business finding ways to make it's products and services attactive to the buying public without taking money from the taxpayers. What will they think of next?
That is 3,000,000,000 miles driven(3Billion)per year.
3Billion/(average of 15 mpg)=200Milliom gallons gas per year.
These cars, trucks have to get at least 10 miles per gallon better mileage than the ones that were traded in.
3Billion/(average of 25mpg)=120Million gallons gas per year.
That is 80 Million gallons of gas per year
Or 220,000 gallons of gas per day.
[quote]One barrel (42 gallons) of crude oil, when refined, yields approximately 19.6 gallons of finished motor gasoline. [/quote]
220,000/(lets call it 20)=11,000
That is 11,000 barrels of oil PER DAY we will not be importing into the US within a month.
That makes the 1 Billion not just going to support American jobs but will save us money every day for the foreseeable future. What a great program.
LETS DO IT AGAIN!!!
- Geoguy[/quote]
[quote]I wonder if the repo wave will be called part of the economic recovery, or will they again be vilified?
- 2H9[/quote]
An excellent point! Bravo!
The Democrats are such economic idiots. Using government directed subsidies to help the unqualified make purchases they can't afford worked out [i]so[/i] well with the housing market when Fannie/Freddie were manipulated by the Democrats, that now they are taking exactly the same stupid action with automobiles.
We have yet to recover from the burst housing bubble, and there's every reason to think that the repo of unpaid autos will be similar to the foreclosures on unpaid mortgages.
Second why do you assume that these people can not afford the loans, there is no money for loan guarantees. The banks just got their dicks slapped, so they will only be loaning to qualified borrowers.
Third WTF are you going to do with that old caddy that gets 12 miles to the gallon? No one wants it, and you are stuck driving it, or parking it. You need a new car anyway, but can't trade it in because they are only going to give you 500 bucks for it.
I drive about 100 miles a day, and get 15 per gallon in my truck. that is 133 gallons a month of gas. If I got 10 mph better that would be 80 gallons per month. A 33 gallon per month savings. 33 gallons*3.00 a gallon=100.00 bucks. That would be about 1/3 of the loan payment on a 6 year loan. So it helps not only every person in the US that we import less crude but the person that takes advantage of the program because the savings in gas alone will help make your payment.
Oh, and where is that eco-friendly truck you are going to "buy" with your clunker "rebate"? Trot that out for us to laugh at, too.
2Hotel9 on July 31, 2009 at 06:38 am [/quote]
[b][quote]WARNING!!!!!!!!!![/quote][/b]
The cretin named 2Hotel9 is a known lying lier. He frequently makes up stuff to support his views. If he cannot invent lies he outright rejects, mocks, cusses at, and falsely accuses people.
If the above does not work, [b]he is known to threaten to kill others.[/b]
[b][quote]WARNING!!!!!!![/quote][/b]
Thanks for the reminder PUSSY cat.
Mickey on July 31, 2009 at 03:57 am [/quote]
e-mails are ready. We shall spread the good news to the additional 2 million people out of work due to the con/neocon/repub caused recession.
Your question, not surprisingly, is irrelevant. People, rich or poor, should only buy that which they can afford and the for which they are credit qualified... unless they are paying cash.
[quote]Rumors that the program's coffer may already be empty are very alarming to car dealers, many of whom have yet to file for reimbursements for clunkers they've already taken in.
"For them to say they've run out of money already...the dealers haven't even been able to get their cars in yet," said Mary Byrne, president of Washington Auto Dealers Association.
Byrne said car dealers are required to submit eight different forms to the feds in a process she described as "very time-consuming."
First the dealers have to pull the engine, Byrne said, "give the car to the wrecking yard, get the paperwork from the wrecking yard, and then submit it to the government to get our money back."
"The other problem is (we have) to physically destroy a consumer's car before we are able to get the money," Byrne said.
As a result, not all dealers have been reimbursed for all the trade-ins they've taken in as a part of the program. And with rumors of the program's $1 billion fast disappearing, dealers fear they'll be left to absorb the costs of the program themselves.
"It could absolutely devastate the dealers," said Byrne, part-owner of Advantage Nissan in Bremerton.
"We personally have 18 cars sitting on the ground. But there are dealers with upwards of 100 cars. At $4,500 a piece, that's a $450,000 exposure to a car dealer,"[/quote]
And buzzy, all cars being turned in on this program are being destroyed. Now, spew more of your lies and bullshit.