A family member bought a new car yesterday but didn't qualify for the "cash for clunkers" program because the car he was replacing was already a fuel efficient vehicle. He said there were so many people buying cars that they waited hours for the credit manager to be available to handle the sale. The manager at this particular dealership told them that when the recession hit, their sales plummeted from about 400 vehicles a month to 100-150. Since the cash for clunkers program, sales are back up to pre-recession volume...even higher! The car dealerships seem to be the real beneficiaries of this program, and like the craziness of the housing bubble where people were buying houses they couldn't afford, this might be prompting people who can't afford a new $40K car to buy one anyway since the government is giving them money and encouraging and enabling them to incur more debt. I can't believe my tax dollars are going towards a program like this...it's criminal.
The Donate button lets you help defend our precious liberties. Every penny counts! You can support the work of Manteca Live! Future generations will thank you.
A family member bought a new car yesterday but didn't qualify for the "cash for clunkers" program because the car he was replacing was already a fuel efficient vehicle. He said there were so many people buying cars that they waited hours for the credit manager to be available to handle the sale. The manager at this particular dealership told them that when the recession hit, their sales plummeted from about 400 vehicles a month to 100-150. Since the cash for clunkers program, sales are back up to pre-recession volume...even higher! The car dealerships seem to be the real beneficiaries of this program, and like the craziness of the housing bubble where people were buying houses they couldn't afford, this might be prompting people who can't afford a new $40K car to buy one anyway since the government is giving them money and encouraging and enabling them to incur more debt. I can't believe my tax dollars are going towards a program like this...it's criminal.
ReplyDelete