Everyone and everything needs a bailout: banks, auto industry and other various types of programs - run by the government and why is that? Is the result of helping the economy or bad decision-making?
The CARS program was started in July and millions of people took advantage of it, but as it's being reported lately in the news, both car dealerships and customers are the ones being taken advantage of. If you want to protect yourself from getting caught up in the CARS program 'fever' and protect yourself, check out this recent link from US News.
http://autos.yahoo.com/articles/autos_content_landing_pages/1050/how-to-avoid-the-cash-for-clunkers-snarl/
The CARS program may be good for some people, but as the program nears to an end, it's proving to do more harm than good. It may help some people who, at one time, couldn't afford a new car but now they have another bill and more debt that they're going to be responsible for, for the next 4-6 years.
Someone correct me but I thought the program was ending in November. But according to recent reports as of yesterday, it will be ending a few months early - because the money to fund the program has run out. Is this really a surprise?
Is it worth it for you? Actually it may be too late and that may not be a bad thing.
Thursday, August 20, 2009
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4 comments:
The money ran out, not because of poor management, but because the demand was greater than expected. People jumped on this deal.
there is not a single, well-reasoned thought in this post
Tom,
This is an opinion and mine alone. You don't have to agree, feel free to disagree but just because you disagree, it doesn't mean that my post is not well-reasoned. If you need more examples of more posts that are not well-reasoned (from your point of view) check out the comments from today's CNN on the Clunkers Program. It's very interesting how others feel about the program too.
http://money.cnn.com/2009/08/20/autos/cash_for_clunkers_end/index.htm?postversion=2009082016
Daenku32,
Thank you for sharing your comment. Unfortunately, there are many dealerships who are still waiting to get their money from the program from the government now that they've sold their vehicles
While Cash for Clunkers seemed like a good program,it isn't working out for some people like me. I was on the fence about getting a new car for a while and the $3500 incentive I would receive for the clunker 96 plymouth voyager (and eyesore) was too good to pass up. I could pass my 2002 Buick Rendezvous to my teenager and get rid of the gold brick (what our family called it). Looked like I was going to get that orange Honda Element. I wheeled and dealed with the dealer on Saturday, August 15, got my best price, best finance rate, gave $500 deposit, and they promised me $3500 for the clunker (I had provided all the documentation...insurance for 1 year, registration for one year, clear title). I called the dealer yesterday about 10:30, all was ready to go for a 6:30pm pickup last night. I get a call to my home at 4:30 telling me the DEAL IS OFF! They would not honor it, they were not taking any more Cash For Clunkers. Yes, we made a deal on Saturday but TOO bad. They haven't gotten a dime of the 500,000 or so they were owed from the govt for the other clunkers they took in since the program started. No matter how much I whined, begged, screamed, etc..they were not budging, not the salesaman, not the Sales Manager, not the General Manager, not the owner. Not even Honda Corporate (who by the way, could care less...remember...Honda's sell themselves so they say). So, even though I had made a deal, put a deposit down, got the financing, changed the insurance (off clunker, on new Honda) NO DEAL. As I had gone this far, I ended up trading in the 2002 Buick for a decent trade in but still, I had to clean it out in 40 minutes and it had 4 years of stuff in it, my 17 yr. old was upset and it was just too sudden. Yes, I could have walked away but I had my heart set on the car...I had called around and no one would match that price. If you mentioned a cash for clunker they didn't want to speak to you anymore. Good luck finding anyone in NJ willing to deal, if they are not getting paid by the Govt, they aren't willing to take the clunkers.
Interesting concept of cash for clunkers but I'm sure I am not the only one that got left in the cold. I was told by the salesman that he had to cancel three deals himself that day and they had to call the police on people who came to pick up and then found out they wouldn't take the clunker.
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