Cash For Clunkers

[Kim_Howie]

Jim, The morons gave the banking system billions with NO stipulations at all. Please vote them all out.

[427TJ]

[ QUOTE ]
Jim, The morons gave the banking system billions with NO stipulations at all. Please vote them all out.

[/ QUOTE ]

Yes, last September-October President Bush ordered Henry Paulson and Ben Bernanke to quickly rush 474 billion to the big banks and Paulson slyly tried to get it no strings attached and no oversight. Yes, we did vote then out. Well, Bernanke is still around.

I heard the GM chairman say today that cash for clunkers was the most successful government stimulus ever.

[Kim_Howie]

Bill,check to see who voted that in.

[427TJ]

Don't worry Kim, everyone is on your side!

[Jim Ferron]

So I'm just in getting my morning coffee at Cumberland Farms, and I see two different guys I know who own mechanic shops talking crying about the economy.

So i go over and start to whine about the 'clunker bill' and they say ... 'what about us? Who do you think have been keeping those 300,000 cars ]clunkers] running? Now they are just gone...crushed...my shop is EMPTY.'

So I think there are a lot of folks hurt by this deal...the trickle down has yet to be felt by many...

[427TJ]

I guess those mechanics weren't doing a very good job if the cars they were maintaining were considered clunkers by their owners!

[wagonman]

[ QUOTE ]
I guess those mechanics weren't doing a very good job if the cars they were maintaining were considered clunkers by their owners!

[/ QUOTE ]


That’s not the entire picture. And therefore it’s an erroneous statement.

Simply put, a car can run well mechanically but still have a poor fuel economy rating. Also a mechanically” fit” car can still have very little economic value. These two examples can be considered clunkers regardless of the mechanics ability.

[lowmile]

What's going to happen to new car sales over the next few months? We've just encouraged every person who remotely thinking about buying a car to purchase one NOW! We have become spoiled and shortsighted as a country. Our Kids will be paying for these mistakes their entire life.m

[Mr70]

I wouldn't be surprised if this country see's a big surge in deliquent new car loan payments over the next few years.
Watch many of those 358,851 put their barely broken in new fuel efficient vehicles they just bought,up for sale too.All because many who really could't afford a new car in the first place,rushed to take advantage of this limited rebate offer.
They're already speculating that this years Holiday shopping season could be the weakest known to mankind.Due to,among other things,people scraped to find the means to purchase a new vehicle when they really shouldn't of,and may have exhausted most of their X-mas cash.
I hope this isn't the case..

[allcamaro]

If you look at the price of the new car and remove the junker credit less and dealer discounts and then any rebates the loan ballance will be less in many cases than the monthly repairs on some junkers. As tight as the lending is with banks on car loans today I would say most of the loans will be just fine, and if they lease it must be for 60 months so the payment is even less.