Well, wouldn't the buyer STILL have to qualify for the loan to get the car even with a $4,500 trade in? I don't think that priority changed. So, how would this program generate more repo's than usual? Other than from the sheer volume of sales?

 

Many cars have been repo'ed because salesmen put false information on the buyer's application . It isn't a rare occurrence .

 

Most people can get a loan from a dealership it is their intrest rate that kills them. Then the dealer usually drags out the payments to a 7 or 8 year loan to help drop the payment to their level. All it takes is one day to loose your job and possibilty of not paying your car payment and then getting it repoed, causing us to be back in the economic problem we are at now with the auto market. Lots of cars for sale and people with little or no extra money to make a purchase becuse of their economic stability.

 

many people can easily 'qualify' for a loan... that doesn't mean that person can actually make the payment... your credit information doesn't accurately reflect your monthly spending and I imagine many people don't track their spending very close if at all... those $20 trips to Target, Wal-Mart, liquor store, Best Buy, cigarette shop, gas station, starbucks, corner to buy some weed all add up to take a nice chunk out of your discretionary income.

 

I have driven through some of the dealers around here, and it id slckening to see what kind and shape of vehicles are being turned in. Ther was a 95 dodge 1500 sit on the clunker line, of a crysler dealer that had less than 100,000 miles on it and it looked like new. I saw several cars, that were just as nice. The problem I see is most of the true clunkers are owned by people that can't afford to buy new even with the rebate, so the worst wore out, smoke belching vehicles are still on the road, while many perfectly good ones are being destroyed.
They should have set it up so people like that, could have traded there true clunker in for one of them. It would have still got the same number of vehicles off the road, and give them a much better,and safer vehicle to drive.

 

ahaha, so true! someone was just telling me about some sort of self-help website that tracks all of your spending for you after you fill in all your personal banking information. supposedly the website looks at your purchases, tells you how much you spend where, and perhaps even makes suggestions on how you can save money. too bad those corner trips that don't take debit are going to totally throw off the figure! i cant remember the name of the site, someone probably knows what i'm talking about...


as for cash for clunkers, it seems to me its just money coming out of one persons pocket and into another. we're all paying for these clunkers!

 

we could just by the trucks for 3500, i am sure we could find plenty of enthuisiest that would buy it for more.

 

Make sure it is full of before to turn it in.

I was thinking more like $5,000 on an American made to offset the inflated price.

 

It's just another govt scheme to help fuel our "something for nothing" mentality that has been going strong for 4 generations.

 

They shoulda taken the clunkers and given them to people on welfare and food stamps so they could get to unemployment office sponsored vocational training courses and a new job.

I wonder how many people can't get work just because they can't afford wheels? I know of quite a few in my rural area. Some hitch rides, some get picked up by their work crew in the morning, and many others have no other option but to do nothing except sit at home, get depressed and worry about their future. It's sad and sometimes leads to really bad things occurring.

 

Anybody see on Fox News tonight? Huckabee was talkin to a couple auto dealers. They have like 20+ pages to fill out for each vehicle, and if anything is even remotely incorrect, they send it back. All this paperwork needs to be done perfectly by Monday night. And most of these guys havent seen a fraction of their money yet for doin it. And if salesmen are making commision, and the gov. hasnt sent them the money yet, what do the dealers hae to pay the employees for selling these cars?

 

Now think about that . If people jump at a chance to get $3500 for a vehicle it is likely to be worth much less than $3000 . If the people you say to give them to can't afford to pay for a $3,000 vehicle they can't afford to pay for insurance or buy gas , tires , etc .. Give a car to many of these people and many will sell it within a month with some using the money to buy drugs .

 

Maybe, I dunno. There's an awful lot of assumptions in that train of thought and no doubt you'd be right in some circumstances. Maybe you just couldn't transfer the title for a year if you accepted the car.

But if you don't have a job b/c you cannot get to one, and you do want a job then this would give you the ability to do just that. A tank of gas and a month of insurance isn't much money.

I've got a friend who's a service manager and he said lots of the cars they've gotten are totally serviceable. Seems a waste to destroy them.

 

Exactly, it is a waste! To destroy vehicles that are in fine condition, will pass emissions easily, and only because they don't get very good gas mileage. It takes a lot more energy/emissions to make a new car than any car will ever use in its lifetime! Even more so when you prematurely destroy them