Cash for clunkers...

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believe09

believe09

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I am all for this, lol. As part of the auto bailout, Congress is considering two programs:
1.) Tax deductions for new car purchases...like you can deduct the interest yearly for your car loan just as you do your mortgage interest...and/or
2.) People with old cars are given vouchers for thousands of dollars to incent them to buy a new car. The old one is then crushed to ensure it is not sitting on a lot somewhere....

http://money.cnn.com/2009/01/23/autos/government_car_incentives/index.htm?postversion=2009012909
 
But with clunkers we have those who can not afford full coverage insurance who need only liability. Plus there is always a market for refurbishing old cars, which in time might become vintage cars. ;)

I for one have never purchased a new car off the lot but prefer used, even if only 2 years old and I like the opportunity for those interested in cars to tinker with them, as long as they pass emissions and state guidelines.

I like the program, but not sure it suits appropriately. Now if they do this and place better warranty's with automobiles perhaps there will be a larger market for new cars. What is the going rate to bring your car to the dealer for non warranty work? 90 bucks an hour for repairs? Who can afford that?
 
Cubby said:
But with clunkers we have those who can not afford full coverage insurance who need only liability. Plus there is always a market for refurbishing old cars, which in time might become vintage cars. ;)

I for one have never purchased a new car off the lot but prefer used, even if only 2 years old and I like the opportunity for those interested in cars to tinker with them, as long as they pass emissions and state guidelines.

I like the program, but not sure it suits appropriately. Now if they do this and place better warranty's with automobiles perhaps there will be a larger market for new cars. What is the going rate to bring your car to the dealer for non warranty work? 90 bucks an hour for repairs? Who can afford that?
Click to expand...
SSSHHHHHHH-Don't get in between my fantasy of a new car and the reality that it will never come to pass, lol...jk. Good points.
 
But if you think about it, it is encouraging people to go deeper in debt. That is what is killing people (almost literally... ) right now. Especially with all of the layoffs/cutbacks/shutdowns. :(
 
Elphaba said:
But if you think about it, it is encouraging people to go deeper in debt. That is what is killing people (almost literally... ) right now. Especially with all of the layoffs/cutbacks/shutdowns. :(
Click to expand...


Exactly, and we've already seen 0 percent financing with cars.


Lol believe, you want a new car, I want an old 63 Riviera, or an old ugly green Dodge Dart, or even a VW mini bus restored.... but I know those days are pretty much gone, because with new cars too many computers....

I have an 02 with under 50K. I had a 79 LTD with under 14K on a rebuilt engine- payed 800 for it and drove it for 6 years. Best car I ever had. The key words for the big business, is going back to simplicity and basics and making them last.

I'd be crushed, as would many industries be crushed if not for used cars and parts. Even those seeking donations with used cars....
 
I'd consider giving them my old still good running vehicle if they give me thousands off a new car with zero interest and if payments are reasonable.
 
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