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Cash for Clunkers

Discussion in 'Money Talk$' started by Deacon, Jul 29, 2009.

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  1. Deacon

    Deacon Well-Known Member
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    I'm the proud owner of a brand new Honda Civic EX!
    Well, my wife is the new owner, I haven't even driven it yet. :tongue3:
    We've never owned a new car before; buying used cars always seemed to be the wiser purchase.

    Barak Hussein Obama (what a guy). He's stimulating the economy, the Canadian economy.
    Jim1999 will be happy to know it was made and assembled in Canada.

    Basic Rules:

    • The clunker trade-in must be less than 25 years old
    • A combined average city and highway rated mpg of 18 or less
    • Must be owned by you with insurance paid for over a year.
    • The new car you purchase must get better gas mileage, used cars are not eligible.

    Those who purchase a car with greater than 10 mpg improvement receive the full $4,500 taken off the purchase price of the car, on the spot.

    You also receive the cost of your cars metal, somewhere around $50 to $100.
    The car you turn-in will be destroyed, the oil is drained, the engine seized.

    Be quick! 1 Billion dollars sounds like a lot of money but it’s only around 250,000 cars, and they're going fast.

    Some dealers guess that this deal will not last through August.

    Rob
     
    #1 Deacon, Jul 29, 2009
    Last edited by a moderator: Jul 29, 2009
  2. swaimj

    swaimj <img src=/swaimj.gif>

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    Deacon, what did you trade in?
     
    #2 swaimj, Jul 29, 2009
  3. billwald

    billwald New Member

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    All it will do is drop the price of scrap steel.

    10 MPG - big deal. Chevvy is now bragging that they make a car that gets the same MPG as a 50 year old VW. My 3 cylinder Chev (Suzuki?) Sprint averaged 48 MPG for 100,000 miles.
     
    #3 billwald, Jul 29, 2009
  4. Deacon

    Deacon Well-Known Member
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    A 1997 Ford Exploder

    It needed 4 tires and a lot of work ($) to pass the next inspection in September.

    My family's shrinking and we don't need a van to carry the kids anymore.

    We figured it might last another year but jumped the gun with the rebate.

    My wife teared up when she heard it would be scrapped, we had lots of fun in that car. (See thread "How was your vacation" [LINK] :tongue3: )

    Rob
     
    #4 Deacon, Jul 29, 2009
  5. swaimj

    swaimj <img src=/swaimj.gif>

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    I think I'll keep track of the vehicle that turns out to be the most frequently scrapped under the "cash for clunkers" program. Fewer of that vehicle on the road will increase the likelyhood of its collectibility down the road. I would think the Ford Explorer might be a candidate for that dubious distinction.
     
    #5 swaimj, Jul 29, 2009
  6. SaggyWoman

    SaggyWoman Active Member

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    I wish I could trade my Honda Accord Wagon on the spot for $4500.
     
    #6 SaggyWoman, Jul 29, 2009
  7. swaimj

    swaimj <img src=/swaimj.gif>

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    Sorry, Saggy, your Honda Accord has too high of a mileage rating to qualify for "c-f-c". A vehicle has to average 19 mpg or worse to qualify. I was hoping my 92 Subaru Legacy wagon would qualify, but I get 20 around town and 30 on the highway. And besides, my Subaru runs great and should last for several more years. It is no clunker!
     
    #7 swaimj, Jul 30, 2009
  8. SaggyWoman

    SaggyWoman Active Member

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    Actually, mine ain't no clunker. I can't complain. I have driven it almost 200 thousand miles myself, and hope to push 300 thou in it.
     
    #8 SaggyWoman, Jul 30, 2009
  9. swaimj

    swaimj <img src=/swaimj.gif>

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    Reports are that the "cash for clunkers" program will end tonight at midnight. Apparently the program ran out of money after only eight days. Originally, it was supposed to run through September. Ah, the planning and foresight of our government officials....
     
    #9 swaimj, Jul 30, 2009
  10. Salty

    Salty 20,000 Posts Club
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    next will be cash for old TV's, then those rascally light bulbs...
     
    #10 Salty, Jul 31, 2009
  11. Palatka51

    Palatka51 New Member

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    Glad to add hard earned tax money for your purchase Deacon. The US tax payer is the one that should get the praise not Obama. This is just another bail out that our grandchildren will have to pay for with their freedom.
     
    #11 Palatka51, Jul 31, 2009
  12. Tom Bryant

    Tom Bryant Well-Known Member

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    And of course, it has failed. It will be stopped soon.

    Like the guy says, just think of what they will do with health care!
     
    #12 Tom Bryant, Jul 31, 2009
  13. swaimj

    swaimj <img src=/swaimj.gif>

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    Yep. It's a microcosm of what will happen with healthcare. In "cash for clunkers", government creates artificially high demand by offering ridiculous incentive, then runs out of money and shuts down program. If government takes over health care they will create increased demand for health services because it is "free", then the govt will run out of money to pay for it. Of course, health care will not be shut down, but the services will be rationed.
     
    #13 swaimj, Jul 31, 2009
  14. Martin Luther

    Martin Luther New Member

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    You and your children will pay for your car through price increases. It is not right to charge Americans so a few dumb people can go into debt for a new car. Cash for clunkers is one small component of the last pump and dump before the bank holiday.
     
    #14 Martin Luther, Aug 6, 2009
  15. TomVols

    TomVols New Member

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    Finally glad to meet someone who actually did this. I kept hearing about this, but none of the dealers I know in the area saw any sales out of ordinary. I was starting to think these droves buying cars were ACORN members. :smilewinkgrin:
     
    #15 TomVols, Aug 13, 2009
  16. Deacon

    Deacon Well-Known Member
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    I agree that the deal is raw but it fit my need well since I was looking for a car anyway
    In fact I was looking at a 2-year-old Civic just a month earlier but thought the 19K price tag was just a bit too rich for my budget. Knocking it down $4500 and getting a brand new car worked out well FOR ME.

    IMO letting politicians hand out our money is so wrong but since they were going to spend the money anyway, I went for the deal.


    But as it turns out, the deal is far worse than we thought.

    Mexicans and Canadians have been turning in their "clunkers" in droves and qualifing for the same discount.
    It seems that geniuses in Congress didn't exclude foreigner buyers.
    U.S. taxpayers (and their children) will be paying for their cars too.

    So.... let's change health care....rush through the Democrats health care bill... it will fix things. :flower:

    Rob
     
    #16 Deacon, Aug 13, 2009
  17. TomVols

    TomVols New Member

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    Deacon, I don't fault you one whit for taking the deal. I oppose Federal money for religious education, yet I took four years of Pell grants to train myself to be a minister. The money was available, so why turn it down? Came with no strings, so I slept fine at night. As long as Muslims, Mormons, etc., are getting it to study their lies, I decided I'd take it arm myself with the truth.

    Enjoy your new ride. My daughter said she's happy to help pay for it for you - but then again, 18 month olds say those kinds of things :laugh:
     
    #17 TomVols, Aug 13, 2009
  18. shodan

    shodan Member
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    The other day I heard some guys discussing the 'cash for clunkers.' One of them remarked, "At least it got rid of a lot of those Obama bumper stickers."
     
    #18 shodan, Oct 6, 2009
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