Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Cash for Clunkers - Does it Work for You?
2647 messages, Last post on Oct 01, 2009 at 6:33 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
Edmunds Cash for Clunkers Calculator
I Traded My Clunker and Bought a....?
|
Replying to: stephen987 (Jul 06, 2009 2:29 am) |
|
| Does anyone know how this bill became to be known as the "Cash for Clunkers" bill? It's very misleading as this bill is really designed to remove as many fuel inefficient cars from the roads, like the older style SUVs and pickups. Not just older cars. Wouldn't a better name be "Cash for Guzzlers"? | |
|
You guys and your snobbish perceptions are unbelievable. In my business I see the overall financial picture of people. Many people who look like they have money are up to their eyeballs in debt. And many people who drive older cars have a net worth that would floor you. They accumulated their wealth by making prudent financial decisions. Most of them do buy new cars, but keep them for a number of years until they are no longer reliable rather than buying new every few years. So my client that makes 300K a year should keep his 96 Jeep away from your business, as that will hurt your "reputation". As should by doctor client who a couple of years ago traded her 90 Olds for a new BMW. Also, you don't want my client worth a couple of mill to look at trading her 97 Impala. But, my client that has a BMW and Jag and is ready to file bankruptcy you want!
|
|
|
Replying to: kathyc2 (Jul 06, 2009 9:05 am)  There are many example of wealthy who drive beaters, and new highline cars driven by career debtors...but I have to believe neither are near the majority. For salesmen, where there's smoke, there's fire, it's all about playing the odds.
|
|
|
Replying to: kathyc2 (Jul 06, 2009 9:05 am) I think we are all on the same page though, believe it or not. We are simply looking at this from different point of views. |
|
|
Replying to: dtownfb (Jul 06, 2009 8:50 am) I think someone earlier along came up with a nice little jingle..."Bucks for Trucks". Which is essentially what the bill is, since so few cars actually qualify. But yeah, the whole "clunker" thing is very misleading. You could theoretically have a 1986 Civic that's grossly out of tune and on its last legs and belching filth as well as any 1960's musclecar did. But, its EPA rating is too good, so it's not a "clunker" in this sense. Nevermind the fact "clunker" and "guzzler" are two mutually exclusive terms. It's too bad they don't pass some kind of bill that's more equitable across the board. Say, we throw out that 18 mpg or less threshold, and just make it so that as long as your new car gets a combined rating of at least 20% better than what you're crushing, you'll get a credit. So, for example, if I wanted to turn in my 2000 Intrepid, which gets a combined rating of 21 mpg, I'd have to get something that gets at least 25.2 mpg. That may not sound like much of a boost, but using that example, it still rules out a lot of cars. For example, among midsized cars, The 4-cyl Accord only scores 24 mpg! The 4-cyl Camry gets 25, as does the 2010 Fusion (the S gets 27 though). The Malibu 4-cyl gets 25 with the 4-speed auto, 26 with the 6-speed. And the Nissan Altima 4-cyl gets 26. The downside, I guess, is that this bill would still benefit owners of larger cars more. For example, if you had a Crown Vic with 18 mpg combined to trade in, your new car would only have to get 21.6 combined or better. So a Crown Vic owner would be able to get just about any 4-cyl midsize, as well as a V-6 Altima, Accord, or Camry. And if you had something economical, say a 2000 Echo stick shift rated at 32 mpg combined, you'd have to upgrade to something that gets 38.4 combined or better. And the only way you're gonna get that is to go with a Prius, Insight, hybrid Fusion, and that's probably about it. Even the likes of the Fit and Yaris are only EPA-rated around 30-32 combined. So in the end, I guess there truly is no perfect answer that would satisfy everybody.
|
|
|
Replying to: andre1969 (Jul 06, 2009 9:24 am) Don't forget this bill is temporary. the next iteration can be changed to reflect your thoughts. I like the "Bucks for Trucks" |
|
|
|
|
Replying to: kathyc2 (Jul 06, 2009 9:05 am) A lot of people who have a lot of money don't feel the need to drive a new or fancy car. This may be part of the reason they have the money!
|
|
|
Replying to: isellhondas (Jul 06, 2009 10:04 am) Many people who have accumulated wealth have done so by making wise financial decisions along the way, including hanging on to older vehicles. However, I doubt that these are the people for whom the "Cash for Clunkers" program was initiated. While they may benefit from the program, I don't believe that these folks were just waiting for a financial incentive to trade in; rather, they are likely to trade in when they are ready to pay for a new vehicle. Sadly, I fear this program may encourage some people to jump into a new car payment when they aren't in the best financial decision to do so. But no one asked me 
|
|
|
Replying to: isellhondas (Jul 06, 2009 10:04 am) Many people who have accumulated wealth have done so by making wise financial decisions along the way, including hanging on to older vehicles. However, I doubt that these are the people for whom the "Cash for Clunkers" program was initiated. While they may benefit from the program, I don't believe that these folks were just waiting for a financial incentive to trade in; rather, they are likely to trade in when they are ready to pay for a new vehicle. Sadly, I fear this program may encourage some people to jump into a new car payment when they aren't in the best financial decision to do so. But no one asked me
|
|
You are here:
Forums
Smart Shopper Cash for Clunkers - Does it Work for You?
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
