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Two observations: 200

posted by  Farm Boy on  Mon Aug 3 15:15 CST 2009
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last visit: Mon Oct 28 07:35 CST 2013
[RELATED]

I can't get that website to come up right now, so I don't know what is said there, but:

1) Since the amount you get from Cash for Clunkers is a function of how much better the mileage is of the new car, relative to the old car, and since most bricks get equivalent or better mileage than comparable cars sold today, wouldn't you have to pay money IN to trade in a brick under this program?

2) I have to wonder how many of the folks who own these clunkers are able to qualify for a new car loan only because of the $4k down payment that you and I (actually, our kids) are donating to them. Doesn't it seem likely that a disproportionate number of these folks will end up getting their new car repossessed? Correct me if I am wrong, but wasn't writing loans to folks with a low probability of repayment the thing that triggered this recession in the first place?






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