Cash for Clunkers may be ending - for now.
The end of a "PERFECT PROGRAM"...AHHHH, sure feels warm and fuzzy.
To all of you out there who could NOT qualify for the C4C program, just wait. Within 6 months 9 at the most there will be a huge influx of REPOS on the market from folks who had NO business buying a NEW CAR to begin with (sound familiar).
Why do you suppose these people had 8,10, or 14 year old vehicles?
Maybe because they were paid for, and that is all they could afford.
Since C4C was forced in us it's too bad they didn't give the whole "recycling process" some better thought:
1. Most people that are buying the new vehicles could have bought them without the $4500. (The money just got them to go ahead and purchase now.)
2. Most of the cars traded in were not that old and still ran well.
3. The people with the cars that really needed to be replaced couldn't qualify for the financing.
Therefore, if we just couldn't avoid this thing then how about the following scenarios instead of crushing reasonably reliable transportation.
The cars traded in that were in good running condition, regardless of the fuel efficiency, should have been made available to the people with the "real clunkers" that couldn't qualify for the C4C program.
These vehicles could have been offered "for free" on a straight across trade of their "clunker" for a better car.
This would have then insured that only the worst vehicles would have been the ones being crushed.
All this has accomplished is to cause the prices for used cars to go up because of the cars being traded is not going into the used car market.
Anyone else think this would have made more sense?
Alas, common sense is not a D.C. value!
Just think...
Obamacare will work the same way, trade in your old Dialysis machine for a more efficient model. Oops! Out of money!
