Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on program

[BTOWN_HUSTLA]

what a bunch of mooks. I hope this is true, what a waste of taxpayer dollars.



http://www.ktla.com/news/landing/ktla-cash-for-clunkers,0,3464476.story

Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.

The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.

Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent.

But dealers raised concerns of large backlogs in the system, prompting the suspension.

Congress approved the "Car Allowance Rebate System," or "CARS," program last month to boost auto sales and attempt to retire some inefficient cars and trucks.

 

[BLAZER PROPHET]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

What is done with the "clunkers" that are traded in?

 

[Shapecity]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

The program lasted all of 12 days? I thought they budgeted for 250,000 cars and are halting it after just 10% have used the program. What a joke!

I also found out they recalculated the formula for determining MPG on older cars, which eliminated a lot of cars from qualifying for the program. There was a lot of complaints about it on edmunds.com

 

[hasoos]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

what a bunch of mooks. I hope this is true, what a waste of taxpayer dollars.



http://www.ktla.com/news/landing/ktla-cash-for-clunkers,0,3464476.story

You have no idea what your talking about. Cash for Clunkers is modeled after programs in other countries which have been highly successful. Cars that are traded in are stripped of engine and transmission and shredded. That gets them off the road, and at the same time gets the previous owner into a higher gas mileage car. It has been tremendously useful to bring countries up to needed fuel efficiency standards, while helping the consumer at the same time, and on top of it, helping the auto companies get some stock moving which they desperately need.

 

[hasoos]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

The program lasted all of 12 days? I thought they budgeted for 250,000 cars and are halting it after just 10% have used the program. What a joke!

I also found out they recalculated the formula for determining MPG on older cars, which eliminated a lot of cars from qualifying for the program. There was a lot of complaints about it on edmunds.com

Why is it a joke? Because it was successful? This program wasn't supposed to last forever. The whole fact that people took advantage of it shows it was successful. The whole goal of the program is to get bad mileage vehicles off the road. That would make it successful.

 

[Shapecity]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

Why is it a joke? Because it was successful? This program wasn't supposed to last forever. The whole fact that people took advantage of it shows it was successful. The whole goal of the program is to get bad mileage vehicles off the road. That would make it successful.

It's a joke because they've ended it already. Don't get me wrong I actually liked the program, but I'm disappointed it's been halted.

My only critique of the program was not forcing potential buyers to purchase more fuel efficient vehicles to qualify and also not being allowed to purchase used vehicles with the program. They could have capped it at vehicles 2005 or older something like that to qualify.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

You have no idea what your talking about. Cash for Clunkers is modeled after programs in other countries which have been highly successful. Cars that are traded in are stripped of engine and transmission and shredded. That gets them off the road, and at the same time gets the previous owner into a higher gas mileage car. It has been tremendously useful to bring countries up to needed fuel efficiency standards, while helping the consumer at the same time, and on top of it, helping the auto companies get some stock moving which they desperately need.

At only $4500 a pop! What a deal! Paid for by the American people. Say you do this for 100 "clunkers" that's already $4.5 million for relatively unknown benefit.

Reminder: Just because something works in another country doesn't mean it is going to work here in the USA.

Don't you only have to technically get like a few mpg in difference?

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

It's a joke because they've ended it already. Don't get me wrong I actually liked the program, but I'm disappointed it's been halted.

My only critique of the program was not forcing potential buyers to purchase more fuel efficient vehicles to qualify and also not being allowed to purchase used vehicles with the program. They could have capped it at vehicles 2005 or older something like that to qualify.

they should have forced the trade-ins to get 30+mpg if they really wanted it to be effective. but even besides that, its a waste of money. only problem with that would be is that the japanese companies would be the only ones selling the cars from the program.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

Why is it a joke? Because it was successful? This program wasn't supposed to last forever. The whole fact that people took advantage of it shows it was successful. The whole goal of the program is to get bad mileage vehicles off the road. That would make it successful.

The fact that people take advantage of a program means its successful? Without measuring anything else?



ok.




suppose there was a program that gave a million dollars to one-legged females. If a bunch of one-legged females start taking the million dollars = SUCE$$!!!!!

 

[BrianFromWA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

so for $100M, we get an upgrade of a few mpg in 1/10 of 1% of American cars? How much stock is 22,000 cars to a manufacturer? A lot? A little? I'm no economist, but I'm not sure that was a great use of cash.

 

[hasoos]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

At only $4500 a pop! What a deal! Paid for by the American people. Say you do this for 100 "clunkers" that's already $4.5 million for relatively unknown benefit.

Reminder: Just because something works in another country doesn't mean it is going to work here in the USA.

Don't you only have to technically get like a few mpg in difference?

I am sorry to tell you, but 4500 times 100 is only 450,000 dollars. By the way, maybe after you take math, you can learn how to read the actual document. 4,500 is the maximum benefit for an individual trade in which meets all the criteria. Most are less.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

so for $100M, we get an upgrade of a few mpg in 1/10 of 1% of American cars? How much stock is 22,000 cars to a manufacturer? A lot? A little? I'm no economist, but I'm not sure that was a great use of cash.

yes. the program was halted in my opinion because it was financially infeasible, which is what I was whining since this stupid program was proposed. especially when this country is screwed financially.

 

[e_blazer]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

At only $4500 a pop! What a deal! Paid for by the American people. Say you do this for 100 "clunkers" that's already $4.5 million for relatively unknown benefit.

Make that $450,000. Those darn tricky decimal points can get you.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

I am sorry to tell you, but 4500 times 100 is only 450,000 dollars. By the way, maybe after you take math, you can learn how to read the actual document. 4,500 is the maximum benefit for an individual trade in which meets all the criteria. Most are less.

sorry, i am not an accountant. hate that shit.

even if its half of that, its still a shit because the taxpayer should not pay people for their clunkers. so. fucking. retarded.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

Make that $450,000. Those darn tricky decimal points can get you.

yes, i am a moran.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

I'd love to see the breakdown of cars purchased using these vouchers.

 

[Shapecity]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

they should have forced the trade-ins to get 30+mpg if they really wanted it to be effective. but even besides that, its a waste of money. only problem with that would be is that the japanese companies would be the only ones selling the cars from the program.

When you factor in the depreciation of the vehicle the minute you drive it off the lot, in most cases the $4500 is going to be a wash. I forget where I read it, but the average depreciation is $14K on cars. The argument was it's better to buy a used vehicle in most cases and save the $14K versus saving $4500K swapping out your clunker.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

When you factor in the depreciation of the vehicle the minute you drive it off the lot, in most cases the $4500 is going to be a wash. I forget where I read it, but the average depreciation is $14K on cars. The argument was it's better to buy a used vehicle in most cases and save the $14K versus saving $4500K swapping out your clunker.

and every car manufacturer started making new commercials and designing programs around this lame programme. stimulate the ad business!

 

[PapaG]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

Word is dealers aren't being reimbursed. Where is the money going? Payrolls have to be made immediately.

 

[PapaG]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

LOL

BMW and Mercedes dealerships are getting money from this. A $4500 credit for your kid's car to buy a new luxury car!

 

[Mediocre Man]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

The program made no sense from the beginning.


Why give cash to people who keep their cars? The people who trade in their cars are the ones that this program would have worked for.

 

[BTOWN_HUSTLA]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

The program made no sense from the beginning.


Why give cash to people who keep their cars? The people who trade in their cars are the ones that this program would have worked for.

Uhhh...this is America. We reward people who make bad financial decisions.

 

[crowTrobot]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

the program is not over. it is suspended until they can determine how much of the 1 billion is left, if any. they don't know because there is a huge backlog of clunker deals waiting for approval, the amount of which is difficult to determine.

the trouble is the program has been exponentially more successful than anyone anticipated. i'd be willing to bet congress will add additional funding within a few days.

 

[crowTrobot]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

The program made no sense from the beginning.


Why give cash to people who keep their cars? The people who trade in their cars are the ones that this program would have worked for.

not sure if you are being serious, but the benefit IS for people trading in vehicles. specifically vehicles that are rated at avg 18 MPG or less if traded for something that is rated anywhere from 3-10 MPG higher than the trade depending on the class of vehicle. for example to get the full $4500 on a new car, the new car has to get at least 10 MPG more than what you are trading.

so whatever you think of the government there definitely will be at least some benefit in reduced gas consumption and stimulation of the auto market in general.

 

[crowTrobot]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

Word is dealers aren't being reimbursed. Where is the money going? Payrolls have to be made immediately.

nobody is saying dealers aren't getting reimbursed. in fact the program is being suspended now specifically to make sure dealers who have already completed deals will be.

 

[crowTrobot]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

When you factor in the depreciation of the vehicle the minute you drive it off the lot, in most cases the $4500 is going to be a wash. I forget where I read it, but the average depreciation is $14K on cars. The argument was it's better to buy a used vehicle in most cases and save the $14K versus saving $4500K swapping out your clunker.

it's probably a wash in many cases, but not always. on saturday i traded a near-worthless old minivan for $4500 off on an already heavily discounted civic. in 2 years it will still be worth what i paid for it. if gas goes up again probably more than i paid.

 

[PapaG]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

the program is not over. it is suspended until they can determine how much of the 1 billion is left, if any. they don't know because there is a huge backlog of clunker deals waiting for approval, the amount of which is difficult to determine.

the trouble is the program has been exponentially more successful than anyone anticipated. i'd be willing to bet congress will add additional funding within a few days.

So, Congress is going to give away even more tax dollars to people trading in their kid's cars? Why not just pay for the cars completely? That would drive sales through the roof!

Add more money?

 

[PapaG]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

it's probably a wash in many cases, but not always. on saturday i traded a near-worthless old minivan for $4500 off on an already heavily discounted civic. in 2 years it will still be worth what i paid for it. if gas goes up again probably more than i paid.

You should thank every American tax payer for you buying a Japanese-made car at our expense. Not that I'm against you doing it, but still, lots of UAW workers are out of work.

 

[PapaG]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

The gov't can't run a $1 billion program without problems, yet they want to overhaul 20% of the economy, plus our medical care, in a hurry.

 

[Denny Crane]

Re: Cash for Clunkers- Clunked. Congress to Halt, $96 million already spent on progra

Isn't it grand that the democrats who control the house, senate, and white house have found reason to put a halt on spending an amount that's .00028 of the size of Obama's proposed budget for this year?

Heck, this is a trivial amount of spending that actually helps people with direct cash instead of giving it to Goldman Sachs.

If you want to consider it actual stimulus spending (which it is), it comes to .00128 of that $778B pork barrel bill with "emergency stimulus" on the label.