Is Cash For Clunkers Cash For SUVs?

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thanks for this great post wow... it's very
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free game download of AL 1:50PM April 15, 2010

Daniel is right. The minute you buy that new car even with the clunker deal that new car can't be sold as new anymore. The theory here is flawed and you will lose more money on the deal then you will gain to buy that SUV or V8 car.

Joe of CA 11:32AM August 21, 2009

Since when has a person been able to buy a new car and then resell it for only $1,000 less? Cars are lose 20-30% of their value as they are driven off the lot. This is the stupidest article ever written.

Daniel of TX 10:14AM August 21, 2009

You are welcome for the cars that you bought. I only wish that the money taken from me hadn't been stolen by my government to provide 'welfare' for a company that should have folded. The next time you see a child on the street, be sure to thank them as well, they'll still be paying to support fiscally irresponsible companies for many many years.
If those 'decent people' really needed a break, then they should have saved up for their vehicle, not gotten it on the backs and sweat of hard working Americans.
Shame on you.

Victim of Theft of MI 9:59AM August 21, 2009

that is right that is what u r buying junker that brand new honda toyota or nissan i guess the govt is glad it can bs or brain wash some people the repo man will be a busy man this year woo hoo think of the next generation of drivers looking for that first car they will never afford or the poorer that can own a car oops smashed all the affordable car think of this at one time you were paying just gas but now you are paying alittle less in gas but man those car payments are a killer i dont want to bail out the stupid people who jumped on this then 2 weeks later they lose their job to all who did this i wish you luck but don't come crying when it all goes wrong did u ever hear to good to be true well your looking at a good one i will keep my clunkers forever i know at least my 3 which would definetly pass for cash for clunker will still be running on the road and if means destroying perectly good cars for 4 or 5 or more a gallon i wont complain once keep those clunker on the road amen

john smith of PA 9:02PM August 11, 2009

Alan Reynolds' contention is utter nonsense that reflects the underlying philosophy of his Libertarian Cato Institute. Matt Bandyk's promotion of it makes U.S. News look foolish. First of all, a previous writer is right in saying that you're not likely to net much money by buying and reselling a small mediocre car, even with the Clunker rebate. It would not likely be worth the hassle. Secondly, the statistics out so far have shown that Americans have bought cars under the program that have far better fuel economy that that required by the Clunker bill. So, even if some nut-case with a lot of time on his hands succeeds at the ploy, the net effect of the Clunkers program has been to reduce gasoline consumption and stimulate the economy. I myself turned in a 10-year old car that was actually clunking for one of similar size that gets 10 miles per gallon more.

Everett Harman of MA 2:58PM August 06, 2009

Matt,it is such a shame such cynicism exists in someone so young and naive! Shame on you! There are more decent people who need a break to be able to afford a decent (non gas guzzling) car than there are idiots who would even think (let alone act on) of something so ridiculous!
Shame on you.

Joyce of CT 10:13PM August 03, 2009

I have never responded to these things, but I had to respond to this one because it sounds so crazy to me. First, if you have a scam artist mentality you can find loopholes in anything and boy all the hoops I would have to jump thru to do that made me tired jusy reading it. Imagine what you could have thought of if you were thinking of something for the good of the community. Most of us are just decent and honest people actually trying to save some money. And I don't know about you, but as a mother of 4 with a full time job, I don't have time to go through all of that to do what? Buy something that will cost me more money? Seems like I would be defeating my whole purpose ( as my friend says, going out the world a-- backwards)of trying to save money by spending more in payments and gas. For what to look good in an Escalade? I think in 2009 everyone should have pretty much learned our lessons about spending for the sake of spending. It's hard to look good broke!I think most of us are worried about just making sure we have jobs to feed our families in this economy.
I myself wanted to take advantage of cash for clunkers and take my 98 jeep with 169,000 miles and trade it in. I want a car that is not about to start getting hit up with major repairs that I can't afford, but I can afford some payments. Not to mention, it seems like I have bailed out so many corporations, it is finally my turn and I am actually getting a little of my own taxpayer money back in stimulus. So I'm thankful not deceitful. Isn't that what got us here in the first place?
By the way with your mentality are you a CEO somewhere? See, there is advantage and advantage. While I wanted to take advantage of this program, you want to take advantage of the public. That is the mentality companies have been using to scam us all. And you know what they have been so greedy - thinking they were just getting over on us that they ended up wiping themselves out. Banks and Wall Street never thought this would happen. They thought they would just figure out a way (as you have done with this) to get over on the public. How many businesses have gone under? My mother always said 'when you dig one ditch, dig two' So I just want you to understand this. Not everyone is out to scam someone! And when you finish scamming for that car (using up all that negative energy) and you are driving it around make sure YOU watch out for ditches!!!

Yolanda of GA 2:44AM August 01, 2009

Alan Reynolds has obviously never tried to sell a late model used car. You lose a lot more than $1000 as soon as you drive it off the lot. Try more like $3000, and then there are all the taxes and fees. Try to get them back.
This is a brain-dead idea from someone who doesn't know the difference between policy and the real world. But Mr. Reynolds, if you want to give it a try, please do so, and let us know how it works out.

Joe of MA 4:31PM July 30, 2009

Matt, over 70% of the new vehicles being purchased are passenger cars and a minority are SUV's. www.CashForClunkersInformation.org's Announced Statistics From Their 'Clunker Report' Which Revealed That 79% Of Clunkers Traded In Are SUVs, Trucks And Vans, With An Average Of 138,000 Miles And Most Are Being Replaced With New Passenger Vehicles That Have A Average Of A 69% Mpg Improvement. Here is an excerpt from their report that you can read if you google "cash for clunkers statistics":
"The most popular clunker trades are Chevrolet, Ford and Dodge and 84 percent of the new vehicles purchased are passenger cars.Based on a 69% mpg improvement,
www.CashForClunkersInformation.org estimates that personal fuel consumption could decrease by approximately 300 gallons per year, reducing personal fuel costs by almost $750 annually at average gas prices.
"If this early trend continues for all of the 250,000 sales that are estimated to occur under the program, it will save consumers more than $187 million dollars in gas expenses while also helping the environment," says O'Connell. As a result, the US annual fuel consumption could decrease by approximately 75 million gallons, reducing spending by a total of nearly $185 million on gasoline(1), and cutting CO2 emissions by more than 655,000 metric tons.(2)
"The program is definitely working as well or better than similar programs around the world. This will encourage law makers to allocate the full $4 billion dollars that Obama initially requested so the program can continue to stimulate the economy, help consumers and help the environment," says O'Connell.
1) Estimates based on average driving of 12,000 mile per year, average regular-grade fuel cost of $2.463 per gallon (as of July 20 from Energy Information Administration), and an estimated 250,000 vehicles sold under the CARS program which is based on $1 billion dollars divided by an average of $4,000.
(2) gallon of gas saved = .00881 metric tons of CO2 reduced according to the EPA
In short, get the facts right before you make sweeping general statements.

ana baena of PA 2:53PM July 30, 2009