dhp123166 Posted August 3, 2009 Share Posted August 3, 2009 I wonder how many people are going to default on their new car loans now that they have the federal governments help in obtaining a new car? Seems like the subprime mortgage fiasco redux... Quote Link to comment Share on other sites More sharing options...
auxilary Posted August 3, 2009 Share Posted August 3, 2009 sounds like a political thread that's gonna get locked Quote Link to comment Share on other sites More sharing options...
dhp123166 Posted August 3, 2009 Author Share Posted August 3, 2009 I don't think it's political, it's more social and economic than anything. I guess what I should say is that "Since I own my Z free and clear I will not be defaulting on any new car loan..." Does that help??? Quote Link to comment Share on other sites More sharing options...
Challenger Posted August 3, 2009 Share Posted August 3, 2009 If you dont want an infraction Id delete it yourself. Quote Link to comment Share on other sites More sharing options...
letitsnow Posted August 3, 2009 Share Posted August 3, 2009 The thing that annoys me about the whole thing is that the drivetrain has to be destroyed and the cars crushed. It basically ruins the used car market. See here I don't think it's political, it's more social and economic than anything. I guess what I should say is that "Since I own my Z free and clear I will not be defaulting on any new car loan..." Does that help??? I have to agree with you, nothing political has been said or implied. Quote Link to comment Share on other sites More sharing options...
Challenger Posted August 3, 2009 Share Posted August 3, 2009 That video is terrible. That Volvo looked really nice. What a waste. Quote Link to comment Share on other sites More sharing options...
JoeinCA Posted August 3, 2009 Share Posted August 3, 2009 The loss of good power trains and parts is sad. The damage to the used car market... is temporary and probably more minimal than you would think. The gas guzzler market is already pretty dead. On an economic note, I dont personally believe that artificial manipulation of any market is a good thing. Quite the opposite. mmmm. That wonderful feeling of posting in a doomed thread. do you feel it? It's like prepping and painting a part you know you are going to replace at the first possible chance. Quote Link to comment Share on other sites More sharing options...
jnjdragracing Posted August 3, 2009 Share Posted August 3, 2009 The idea sounds good to me if you are planning or trying to buy a new car and your present vehicle is dying or is in bad shape. Which does help the new car market. I have a old plymouth van that I keep around for a third vehicle and also is good for moving stuff around. It is tagged and insured. I wish the goverment would give me a check for $4500.00 and I could do with it what I wanted. I would probably give up the old reliable van for that. Personally I do not want a car payment in this economy at the moment. John Quote Link to comment Share on other sites More sharing options...
woldson Posted August 3, 2009 Share Posted August 3, 2009 I wish the goverment would give me a check for $4500.00 and I could do with it what I wanted The gov has only your money. It is better to say, "I wish I could keep my own 4500 and do with it as I will" Quote Link to comment Share on other sites More sharing options...
dhp123166 Posted August 3, 2009 Author Share Posted August 3, 2009 Are any Z owners taking advantage of the governments cash for clunkers program specifically for their Z car? Quote Link to comment Share on other sites More sharing options...
motoman Posted August 3, 2009 Share Posted August 3, 2009 That would brake my heart if i herd that. Quote Link to comment Share on other sites More sharing options...
JSM Posted August 3, 2009 Share Posted August 3, 2009 Anytime Uncle Sam gets involved .... well .... My question is what does it "really" Cost. Adminisitration and crush cost need to be included. When they say we will give you $4500, count on it being 3 to 4 times that in reality. All of which WE get to pay for! Yeah! IT'S A BAD IDEA! Quote Link to comment Share on other sites More sharing options...
JSM Posted August 3, 2009 Share Posted August 3, 2009 Why in the world would they not drain the oil out first in the video? Quote Link to comment Share on other sites More sharing options...
ShaggyZ Posted August 3, 2009 Share Posted August 3, 2009 The cash for clunkers thing is pretty limited. It only goes back to 1990 and only cars with 18mpg or worse fuel efficiency, to my knowledge. Here's the list - http://www.edmunds.com/cash-for-clunkers/eligible-vehicles.html Interestingly, the V8 Camaro is only listed from 1990-1999. Quote Link to comment Share on other sites More sharing options...
thrustnut Posted August 3, 2009 Share Posted August 3, 2009 I would think this may hurt us in a round about way. Less junk yard parts! Man, what a waste of cars. I understand if your car is falling apart and you can't sell it for what the government will give you, and I understand the "green" point, I just think it would be better to recycle the cars in a junk yard instead of blowing them up and crushing them. (I hope this is far enough away from political) Quote Link to comment Share on other sites More sharing options...
hughdogz Posted August 3, 2009 Share Posted August 3, 2009 This program still has a long way to go 1) The one billion dollars allocated for the program was used up in the first four days. Now we are hoping to add two more billion 2) There were so many incoming applications, the server crashed. 3) When dealerships submit the application, the system sent back an acknowlegement that said "Approved". The dealerships thought that meant the application was approved, but it only meant it was sent on to processing. 4) Many of the applications were denied due to poor credit history of the consumer (or whatever). The dealerships thought they were approved, and since they were not, many lost $4500 on the deal. Quote Link to comment Share on other sites More sharing options...
sweetleaf Posted August 3, 2009 Share Posted August 3, 2009 This has to be beyond the stupidest program I have ever seen. It's complete false economy. Bad for the environment, and costing us money. Most of those 90 and up cars could do a lot more good, replacing old broken down beaters. Watching them kill that Volvo was just "Depressing" . I could go on for hours about the stupidity of this program but I'll leave it at that. Quote Link to comment Share on other sites More sharing options...
amorfin Posted August 3, 2009 Share Posted August 3, 2009 There's more misinformation than good information about the program all around. Everyone thinks something different. It has created a mess for the dealerships. The only good thing this program did was bring more traffic to the showrooms. Many people brought their "clunckers" in, then they found out they didn't qualify, but still bought a new car. Quote Link to comment Share on other sites More sharing options...
zeeboost Posted August 5, 2009 Share Posted August 5, 2009 Our dealership has at least 30 CFC vehicles parked around the lot, awaiting their destruction. There's a few decent vortec engines in some of those, too Quote Link to comment Share on other sites More sharing options...
DRTY260Z Posted August 5, 2009 Share Posted August 5, 2009 I work at a Dealership, and business has increased a lot. For once, I made more in comission this past weekend than I did on the last three months combined. Quote Link to comment Share on other sites More sharing options...
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