Thursday, June 18, 2009

Cash for Clunkers Passes

Great news, Cash for Clunkers passes! (insert sarcasm) As Joe says, "It's time to be patriotic!" It's time to help our fellow American's buy a car. Oh, what's another four billion dollars anyways.

We put a band aid on GM and Chrysler by loaning them billions of tax payer dollars, part of which I'm sure was used to lobby for this bill. Now we are taking more taxpayer dollars and putting back into the car industry with the Cash for Clunkers. I guess since it's the government's business now, they have to bribe people to buy their products.

The article I read stated that "Dealers participating in the program would receive an electronic voucher from the government for the trade-in to apply to the purchase or lease of a qualifying vehicle. The bill directs dealers to ensure that the older vehicles are crushed or shredded to get the clunkers off the road."

I will be watching this closely as I'm wondering what dealers will be approved to take part in this program.

See Senate passes Cash for Clunkers Program for more on this story.

1 comment:

  1. I don't qualify because my car already gets good gas mileage. My dad swears by the car buying process here: It is kind of similar.

    I haven't tried it yet, but I might because it looks good.

    I have a feeling dealers are going to automatically increase prices because of the increased demand (artificial) for lower MPG cars. So the thousands of savings from this bill for consumers is not entirely accurate. The demand will increase prices and you'll get a voucher from increased prices. I'm certain some markets you'll come out even as if they never offered this voucher. It is poorly written legislation.