"Cash for Clunkers" is so popular it's running out of money

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  Posted by Katie B Fri Jul 31, 2009 12:11pm PDT

  Yup... and some dealerships around my metro area where/are offering matched incentives... But honestly I don't see how some people would be able to afford a NEW car (because those are the only cars eligable for the rebate) regardless of the rebate... because even though the payments MIGHT be lower they would STILL have to make monthly payments for the car itself and full coverage insurance for the new car. So the only people I really see taking advantage of this deal are people in the market to buy a car anyway but just didn't have a decent down payment at the time.

  And honestly, I don't see it as a bad thing that there are provisions to make sure the money is being spent as intended... we have too much pork spending in our Government and in Government contracted entities.

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  Posted by countnchickn Fri Jul 31, 2009 12:21pm PDT

  Sure Mr. Smart Man Obama, just throw some more money at programs. I mean heck we have it coming out of our a*s. Why not.

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  Posted by hunkmuffin4u Fri Jul 31, 2009 12:34pm PDT

  Just where is money coming from? As with the 'bail out' money?

  OMG! Obama must go!

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  Posted by fools_and_sages Fri Jul 31, 2009 1:06pm PDT

  This program will only allow people with SUVs and older or ridiculous sports cars to get a new vehicle. News reports have discovered that the EPA has been upping MPG estimates on most luxury sedans, sports cars, and newer SUVs to make them exempt from the program. They are also only looking at estimated MPG when the vehicle was brand new. Cars tend to get less fuel efficient with time but this is not being taken into account.

  This is basically designed to get individuals and families who own SUVs and ridiculous sports cars into mini-vans and luxury sedans. For example, I own a 1999 Chevy Monte Carlo. My car supposedly gets 17 mpg in the city and 26 mpg on the highway. I know it gets 30 on the highway and about 12 in the city. Either way, it averages about 21 mpg, which makes me ineligible for the CARS program.

  And Katie is right in more ways than one. If you're changing from a full size gas SUV to full size hybrid SUV, a total discount of $9000 ($4500 from the feds and $4500 from the dealer) off retail price (at least $27,000) means you are looking at paying on at least $18,000 plus interest for 6 years if you get a vehicle big enough for a family of four plus a dog, groceries, sports equipment. . whatever. That's WAY out of most families' price range even without the comprehensive insurance coverage.

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  Posted by Sophie'sMom Sat Aug 1, 2009 11:02am PDT

  Ihope every driver that has an eligible vehicle uses the program. That will take a lot of unsafe, un-efficient cars off the road.

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  Posted by Andriel Sat Aug 1, 2009 11:15am PDT

  Don't fall for the were doing the Joe Public a big favor. What you are doing is allowing the Goverment to GPS "Track" your ass. Dont have anything to hide? Their not after anything but the control and the to verify such things like Banks Habbits and other things. When you think the Goverment helped you purchase a new car. Think again. Was it worth it. Our Goverment works for the Goverment. We are pawns on the board. Enjoy Youre Day.

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  Posted by Barbara Sat Aug 1, 2009 1:51pm PDT

  Although I don't like the thought of getting back into car payments, I'll probably have to trade in or buy another car in the not too distant future since mine is 10 years old. It'll all depend on the interest rate and monthly car & ins. payments to move up to something newer.

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  Posted by Victoria Sun Aug 2, 2009 12:03am PDT

  I think it a wonderful idea if you can afford a monthly car note >

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  Posted by Pegglecat MacO'Hoolihan Mon Aug 3, 2009 12:13pm PDT

  I'm so glad my hard-earned tax dollars are funding other people's new car purchases. Am I getting a new car or a tax break? No...

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  Posted by David K Mon Aug 3, 2009 8:17pm PDT

  Who's paying for this disastrous program? The American taxpayer and the more sold, the higher the bill goes up to pay for it! Most of these "clunkers" are perfectly good vehicles worth thousands! Why would they destroy these vehicles that could be dismantled and the "salable" parts be sold in junk yards for those that need to keep their vehicles running. This program is so wrong and will cost Americans in the end........

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