Comments on: “Cash for Clunkers” is a Lie and a Ripoff! http://www.dr1665.com/2009/05/cash-for-clunkers-is-a-lie-and-a-ripoff/ Gearhead, Social Media, Life. Wed, 03 Mar 2010 06:42:51 -0800 http://wordpress.org/?v=2.9.2 hourly 1 By: DR1665 http://www.dr1665.com/2009/05/cash-for-clunkers-is-a-lie-and-a-ripoff/comment-page-1/#comment-514 DR1665 Sun, 02 Aug 2009 19:22:55 +0000 http://www.dr1665.com/?p=323#comment-514 From what I've heard, the bulk of the participants in this program were likely already in the market for a new vehicle this summer, so it could just be that, instead of spreading those purchases out over the summer, this program is merely concentrating all those deals into a month's time. We'll probably see another couple billion (atop the recent $2Bn expansion to this past week) before the end of August.<br><br>I really think this sets a terrible precedent. If the initial $1Bn budget didn't even last a week and the program was suspended, then I'm thinking the additional $2Bn just approved might last two weeks, tops. Then what? Another couple billion? Eventually, the auto industry is going to *have to* face the reality of a declining market. Of course, there is always the chance that our government, in their infinite wisdom, will simply continue to subsidize the industry indefinitely on the taxpayers' dime. From what I've heard, the bulk of the participants in this program were likely already in the market for a new vehicle this summer, so it could just be that, instead of spreading those purchases out over the summer, this program is merely concentrating all those deals into a month's time. We'll probably see another couple billion (atop the recent $2Bn expansion to this past week) before the end of August.

I really think this sets a terrible precedent. If the initial $1Bn budget didn't even last a week and the program was suspended, then I'm thinking the additional $2Bn just approved might last two weeks, tops. Then what? Another couple billion? Eventually, the auto industry is going to *have to* face the reality of a declining market. Of course, there is always the chance that our government, in their infinite wisdom, will simply continue to subsidize the industry indefinitely on the taxpayers' dime.

]]> By: sayswho http://www.dr1665.com/2009/05/cash-for-clunkers-is-a-lie-and-a-ripoff/comment-page-1/#comment-513 sayswho Sun, 02 Aug 2009 14:29:57 +0000 http://www.dr1665.com/?p=323#comment-513 what I can't figure out is how are people affording a new car? I thought you had to have good credit, and I also thought the banks weren't loaning anyone money, and in this economy who would want to go in debt, something smells bad here. what I can't figure out is how are people affording a new car? I thought you had to have good credit, and I also thought the banks weren't loaning anyone money, and in this economy who would want to go in debt, something smells bad here.

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