Got a clunker?

[Bedlam]

double Orange I agree people will over buy and default. But then there the Bankruptcy bailout

 

[Uncle Doug]

What smells funny about the whole deal is that all of a sudden all of the dealer rebates have dropped to its lowest level in the past year. When I bought my 2008 F150 Supercrew last October the dealer rebates were about $10,000. While looking around for any "deals" this week most rebates are only about $2,500 - 3,500.

People are flocking to the dealers to get in on the Clunker deals thinking they are getting a great deal. The only deal they are getting is being able to unload a older high mileage vehicle for a price they could not get on the street.

Most could of got a better new car deal months ago.

 

[rcrcomputing]

Destroying them when so many people financially distressed could really use them is unforgivable.

 

[dmccarty]

Is the Cash for Clunkers helping the US auto companies or Honda and Toyota? Or to put it another way is my tax money being used to boost Toyota's and Honda's profit?

According to a report that I heard this morning car sales are going up to due Cash for Clunkers. If new car sales are going up and used cars are removed from the used car market does this mean prices will be going up on new AND used cars?

How about just giving me my money back and let me spend it to boost the economy....

Later,
Dan

 

[jk96]

The goal of the legislation is to increase the sale of new cars (the only ones that impact present employment statistics) and remove from circulation older vehicles that were high emmitters of CO2 (= higher fuel consumption). If the older vehicles were permitted to stay on the road, they would simply be used by people less well off than the original owner and continue sucking large amounts of gas.

If people would like to get to the point where it may not be neccersary having sons and daughters in foreign countries securing oil supplies to the US, it is clear that there has to be a shift to vehicles with lower fuel consumption. Thank God that finally the US consumer is actually starting to see some sensible options in this regard.

What I would like to see is the statistics on the trade off between the CO2 saved by the new fuel efficiant car vs the remaining life span of the "clunker" and how much CO2 was put into the air to manufacture the new car.

 

[Duffster]

What I would like to see is the statistics on the trade off between the CO2 saved by the new fuel efficiant car vs the remaining life span of the "clunker" and how much CO2 was put into the air to manufacture the new car.

Ditto

I don't think they ever take things like this into account.

 

[two_bit_score]

Dave Ramsey was blasting the program last week. I think he said he drove a $200 clunker for a while after he first went broke. Saved his money and hen traded to a something like a $1000 clunker, and kept repeating the process until he could have a decent car again. In the last 20 years since that happened, he hasn't had a car payment. His take on the whole thing is the govt., who has no money itself, is trying to get people to go into debt to buy new cars they can't afford. He said it made as much financial sense as the whole mortgage mess.

The one thing guarranteed to keep a working man poor is a new car.

 

[two_bit_score]

What smells funny about the whole deal is that all of a sudden all of the dealer rebates have dropped to its lowest level in the past year. When I bought my 2008 F150 Supercrew last October the dealer rebates were about $10,000. While looking around for any "deals" this week most rebates are only about $2,500 - 3,500.

People are flocking to the dealers to get in on the Clunker deals thinking they are getting a great deal. The only deal they are getting is being able to unload a older high mileage vehicle for a price they could not get on the street.

Most could of got a better new car deal months ago.

And they will be able to again. As soon as the government money is all spent up.

 

[capt jack]

I think it was a Will Rodgers Quote (I could be wrong about who said it )
"any elected offical that robs Peter to pay Paul can always count on Pauls vote!!" I hope we get a chance to kick all their a...s out of office before they pass a bill to do away with the silly practice of elections.
Jack

 

[2manyrocks]

I keep coming back to Dave Ramsey saying, "they're spending money like they've got it."

 

[tallyho8]

I'm not in favor of the clunkers program or most other govt give-aways but today I decided that since someone was going to get the money it might as well be me. I traded in my 1988 Ranger 4wd with 280,000 miles on a new Hyundai Sonata. First foreign car I ever bought not counting my Kubota and Yanmar.

They claim the Sonata's engine is made in the USA and it's assembled in Montgomery Alabama so at least it's part American. It has a combined mileage of 25 mpg and my Ranger had a window sticker saying the combined mileage was 15 mpg and the best it ever got was 15 mpg but the govt website said they changed the figures to 17 mpg so it only got a $3500 clunker trade instead of a $4500 trade-in.

At least it gets 66% better mileage than my old vehicle. And I still have 2 pick-ups but my wife wanted a car and if mama ain't happy, nobody's happy.

I was planning on buying the Hyundai a couple of months ago and got some quotes and when I went back yesterday to see about getting it, the dealer jacked up the price $2000. After getting quotes from 3 different dealers and playing one against the other I finally got the price back down to just about $200 more than the quote I had a couple of months ago. But I was only able to do this because I was paying cash for the car and not financing. And luckily they still had the $3000 rebate on the car because they had announced it would last till August 31 before the clunker program was started.

 

[Double Orange]

I'm not in favor of the clunkers program or most other govt give-aways but today I decided that since someone was going to get the money it might as well be me. I traded in my 1988 Ranger 4wd with 280,000 miles on a new Hyundai Sonata. First foreign car I ever bought not counting my Kubota and Yanmar.

They claim the Sonata's engine is made in the USA and it's assembled in Montgomery Alabama so at least it's part American. It has a combined mileage of 25 mpg and my Ranger had a window sticker saying the combined mileage was 15 mpg and the best it ever got was 15 mpg but the govt website said they changed the figures to 17 mpg so it only got a $3500 clunker trade instead of a $4500 trade-in.

At least it gets 66% better mileage than my old vehicle. And I still have 2 pick-ups but my wife wanted a car and if mama ain't happy, nobody's happy.

I was planning on buying the Hyundai a couple of months ago and got some quotes and when I went back yesterday to see about getting it, the dealer jacked up the price $2000. After getting quotes from 3 different dealers and playing one against the other I finally got the price back down to just about $200 more than the quote I had a couple of months ago. But I was only able to do this because I was paying cash for the car and not financing. And luckily they still had the $3000 rebate on the car because they had announced it would last till August 31 before the clunker program was started.

Jee Thanks for sharing. When I make my next Quarterly Tax Payment I will think about your new HYaNDA and feel much better.

 

[riptides]

I am sitting this whole program out. I think everyone should own a horse and buggy.

 

[Chuck52]

I'm probably sitting it out, too. I've still got my 1991 F150, but if I buy another car I'd want to garage it. Only got a two car garage, and that would mean either the Impala, the newer truck or the new car would be out in the weather. One reason the old 150 is still in decent shape....at least the body....is that it was garaged most of the time I have owned it. Besides, I do have a use for it. This morning I loaded the garbage can on it and drove it down to the road. Had to take SWMBO to work bright and early, and I usually just stick the can in the trunk of the car, but it has developed a leak. We spent a good long time trying to figure out why it smelled like something had died in the car the last time I hauled the garbage can in the trunk. So, until I sell it or donate it or whatever, the old 150 delivers the garbage!
It's kinda fun driving it backwards up the driveway. If I gun it some it's better than coffee!

Chuck

 

[scott_vt]

GOOD. No more perfectly fine cars will meet a untimely end. THe guy who came up with this must have kicked kittens in his spare time.

If your a car guy, watch what they do to this poor volvo. Its not for the faint of heart. YouTube - Volvo Cash for Clunkers Engine Disabling

Make sure you have sound on. It'll break your heart

Good Mornin Scooby,
Ouch, that was truly painful !!!

Looked like a very nice vehicle apperance wise also !

Just something basically wrong here...

Is the Cash for Clunkers helping the US auto companies or Honda and Toyota? Or to put it another way is my tax money being used to boost Toyota's and Honda's profit?


How about just giving me my money back and let me spend it to boost the economy....

Later,
Dan

Good Mornin Dan,
My thoughts also !

Im still driving my 2000 Dodge 4x4 pu, 114,700 and still runnin fine !

The 5.9 litre is rough on gas, but fortunately I dont put too many miles on it ! I think I will keep it !

 

[dmccarty]

Got home last night and read the Wall Street Journal.

Costs of used cars are going up. Twas not much at this point but since we are removing supply if demand is the same or goes up....

The story also mentioned that one version of the Clunker's bill would only allow trade ins for a car made by a US company but this was taken out. Official numbers from the Fed's are not out yet on which companies are getting the most sales under the program. But sales were up quite a bit at Chrysler, Honda and Toyota. Ford and GM were single digits. I think Chrysler and Honda was 30ish percent. Toyota was 15ish percent. I might have Honda and Toyota reversed.

The WSJ also had a story about the Clunker's program that requires the engines to be destroyed. One way to do this was with Silica something or other. It maybe in the video links that have been posted but I just can not bear to watch. Drain the oil, dump in the silica, run engine until it dies.

One of the cars mentioned in the article was a 2002 which seems aweful young to be destroying.

Later,
Dan

 

[Dargo]

I just read a memo I received that is based on the Department of Transportation and it says that, so far, 60% of the vehicles purchased using a "clunker" for a trade in has been a Honda, Toyota or Hyundai. Other 'foreign' manufacturers make up another 8% of the sales. That means that the U.S. "Big Three" are only selling 32% of the vehicles being purchased via the government give-away program. I wonder if this was predicted?

 

[riptides]

Why don't we just give a portion of three billion dollars to everyone who filed a tax return and stimulate the general economy that way?

 

[Dargo]

Why don't we just give a portion of three billion dollars to everyone who filed a tax return and stimulate the general economy that way?

I'd say. I just got finished with an IRS audit. Never pleasant but, when it was over, they'd made a mistake (which is what triggered the audit) and when documenting my portion I found an error on my accountant's part that had caused me to overpay. The end result was a refund after the audit. I don't look at it like "free money" though. I just look at it like I got a little more of my money back from the government.

 

[Duffster]

Why don't we just give a portion of three billion dollars to everyone who filed a tax return and stimulate the general economy that way?

Better yet, don't take the money in the first place. It will do a lot more STIMULATING in the hands of the rightful owner.