Cash for Clunkers Was a Complete Failure

[Ph64]

My brother was working for a Ford dealership during CfC, he told me one guy brought in a 5y/o Ford Explorer, 120k but in mint condition physically inside & out... Thought it was a shame because as a CfC vehicle they had to pour basically a can of grit/metal-balls into the engine to totally destroy it, when it would have been an excellent used vehicle. He had multiple stories of vehicles that were far from "clunkers" being traded in to have their engines totally destroyed before being shipped off to get scrapped.

What were the limits on the amount of money the Gov would pay for a 'clunker'

"Depending on the type of car purchased and "the difference in fuel economy between the purchased vehicle and the trade-in vehicle", the amount of the credit given in the form of vouchers to eligible customers is either $3,500 or $4,500.[30] New car dealers will be able to reduce the purchase price by the amount of the voucher for which that the customer is eligible."

https://en.m.wikipedia.org/wiki/Car_All ... ate_System

Wonder what it says about Ford that the Explorer 4WD was the top trade in vehicle?

[SuburbanFarmer]

That’s back when Explorers were regularly flipping over and exploding, remember?

[Hastur]

Cash for clunkers was sheer idiocy. It was plain to see for anyone with half a brain. Broken window fallacy on a grand scale.

[Speaker to Animals]

SANTA MONICA, Calif., Nov. 8, 2018 /PRNewswire/ -- Budget-conscious car shoppers seeking an escape from record-high new vehicle prices might not find much relief in the used market, according to the latest Used Car Report released by the experts at Edmunds. In the third quarter of 2018, the average used-vehicle price reached $20,084, the highest since 2005 and a 3.5 percent increase year over year.

"Used-vehicle shoppers are now facing the prospect of payments that could easily put them in a lease for a new vehicle. And, the prospect of owning a car that is nearly 10 years old when it is fully paid off could be a daunting one for some consumers," said Drury. "As used and lease vehicle payments continue to rise, it will be interesting to see whether there is a price point that will compel used-vehicle shoppers to begin to make the jump to leasing, or keep playing the long game in hopes of eventually building equity in their vehicle."

http://www.wfmj.com/story/39445493/aver ... rt-reveals


Obama did this by fucking decimating the supply of used automobiles.


You can lambaste him all you want for the retarded environmentalist aspect of this law, or the stupidity of destroying probably hundreds of thousands of serviceable automobiles. But what he did to poor people by making transportation too expensive for them is just unforgivable.

[Montegriffo]

SANTA MONICA, Calif., Nov. 8, 2018 /PRNewswire/ -- Budget-conscious car shoppers seeking an escape from record-high new vehicle prices might not find much relief in the used market, according to the latest Used Car Report released by the experts at Edmunds. In the third quarter of 2018, the average used-vehicle price reached $20,084, the highest since 2005 and a 3.5 percent increase year over year.

"Used-vehicle shoppers are now facing the prospect of payments that could easily put them in a lease for a new vehicle. And, the prospect of owning a car that is nearly 10 years old when it is fully paid off could be a daunting one for some consumers," said Drury. "As used and lease vehicle payments continue to rise, it will be interesting to see whether there is a price point that will compel used-vehicle shoppers to begin to make the jump to leasing, or keep playing the long game in hopes of eventually building equity in their vehicle."

http://www.wfmj.com/story/39445493/aver ... rt-reveals


Obama did this by fucking decimating the supply of used automobiles.


You can lambaste him all you want for the retarded environmentalist aspect of this law, or the stupidity of destroying probably hundreds of thousands of serviceable automobiles. But what he did to poor people by making transportation too expensive for them is just unforgivable.

These schemes are aimed at stimulating the car industry. It's a government subsidy paid for by the taxpayer.
If all you wanted to do was get the unsafe and polluting cars off the road you would set the compensation much lower. A thousand bucks would get the worst cars to the scrap yard.

I'm sceptical about your $20k stat though. Many classic cars sell for a lot of money and will raise the average price if they are included in second-hand car sales.

[Speaker to Animals]

It is truly amazing how leftists continue to fail to grasp supply and demand.

[Ph64]

It is truly amazing how leftists continue to fail to grasp supply and demand.

Here's a key thing to consider... 20 years ago I could pick up one of the several used car "ad magazines" at my favorite pizza place (they have two different ones typically) and while a few of the dealers had "$xyz/month" pricing most (probably 80%) had used cars for $4500, $6000, $8500, etc (price listed).

Now it's the exact opposite - 90% of the dealer ads I was looking at (2yrs ago when I was car shopping, though I've looked since and it hasn't changed) were "$299/month", "$350/month", etc with no term (# of years) listed or full price listed (and almost never mileage). The few I actually called on were 5-7 year terms and over 100k miles... Some even up to 150k.

I saw 5yr old SUVs with 140k miles on them going for $15k. Of course they were probably $35-40k new. Seemed ridiculous to me to spend that kinda money on a car with 140k miles on it - you know that's when you're gonna start looking at more major issues (transmisdion, ball joints, bearings, etc) even if it's been well maintained. Plus this is New England, even if you can't see it yet there's rust starting somewhere.

[nmoore63]

Cash for Clunkers worked exactly as planned.

[TheReal_ND]

That’s back when Explorers were regularly flipping over and exploding, remember?

The new ones are nice tbh

[Ph64]

That’s back when Explorers were regularly flipping over and exploding, remember?

The new ones are nice tbh

Sure, if you've got $40k to drop on one.