Answer: to give away $4500 per vehicle traded in it cost the government $24,000 PER CAR!!!!
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Crabby Fat Guy
Crabby Fat Guy Crabby Fat Guy Crabby Fat Guy Crabby Fat GuyAn Unabashed Look at Lancaster Ohio
An Unabashed Look at Lancaster Ohio An Unabashed Look at Lancaster Ohio An Unabashed Look at Lancaster Ohio An Unabashed Look at Lancaster Ohio
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October 29th, 2009 at 4:41 pm
“Ironically, the average transaction price for a new vehicle in August 2009 was only $26,915 minus an average cash rebate of $1,667.”
IOW, The government could have had people pay $1000 for a new car and they wouldn’t NEED to drive clunkers, nor be saddled with years of payments.
October 31st, 2009 at 9:40 am
My BIL would never think of buying a car but did because of this offer.
People who wouldn’t normally buy a “New” car went ahead because of the $4,500.
Those who traded their Clunker were driving a gas guzzler.
Normally the Guzzler would have been replaced with a Guzzler, but in this case was replaced with a car that gets good gas mileage.
Seems like it did some good.
October 31st, 2009 at 8:50 pm
most people who drive guzzlers can’t afford new cars. this will be obvious in a year or so when their new cars get repoed.
October 31st, 2009 at 9:28 pm
Then i will get a great deal on a repo and the Feds. don’t have to give me any cash.
November 1st, 2009 at 11:32 am
I drove a clunker. I also knew that I needed a new car. Unlike most people I save my money when I can, don’t have credit card debt, and shop for the best deal. I figured by 2010 I would buy a nice reliable used car. Then the clunker deal came. My car qualified so I figured it would be beneficial to by a new car under the clunker program then wait and buy used. I shopped, did research and found a great deal plus 0% for 5 years. If I would have bought used I’d be paying 5-7% or more. I would NOT have bought new without this program, and probably wont buy new next time. I CAN afford a car payment and I am glad this program came out.
November 1st, 2009 at 1:18 pm
all that proves is that you were part of the 20% or so who the program was intended for.
November 2nd, 2009 at 4:13 am
it was a gooddel forsome who had the money to spend.. but if you are now looking for a nice used car or truck forget it….a lot of nice stuff went to the crusher