Clunkers out of cash.

[Fleck750]

I'm amazed that a quarter million people can afford a new vehicle in this economy.

[shmike]

Originally Posted by Fleck750

I'm amazed that a quarter million people can afford a new vehicle in this economy.

[Rider]

Originally Posted by Fleck750

I'm amazed that a quarter million people can afford a new vehicle in this economy.

Most people already have a car payment so getting a new car won't change their financial status. I have 1 car that's paid for and 1 one that I am leasing. When my lease iis up next year, I'll get something new. GM isn't leasing anymore, so I'll either need to buy a new car or find another manufacturer that still does leasing.

[SteveP]

Aug 2010: Car repossession hits all time high

[goof2]

Originally Posted by Rider

Most people already have a car payment so getting a new car won't change their financial status. I have 1 car that's paid for and 1 one that I am leasing. When my lease iis up next year, I'll get something new. GM isn't leasing anymore, so I'll either need to buy a new car or find another manufacturer that still does leasing.

I know there are some, but how many people still have payments on a car worth less than $4k. Also, you had to have the title in hand to take advantage of this program, so how many of those that still have payments could afford to pay off their loan early. You couldn't use a leased vehicle as your clunker either.

I guess the credit crunch is over (for now). I think you may be right SteveP.

[goof2]

Program looks to be back on.

http://money.cnn.com/2009/07/31/auto...date/index.htm

[Homeslice]

Auto dealers began offering government-backed rebates in early July of up to $4,500

up to $4,500 based on what? its MPG, or its trade-in value?

[Rider]

Originally Posted by Homeslice

up to $4,500 based on what? its MPG, or its trade-in value?

MPG. The new car has to get better gas mileage than the old car and the old car has to get below 18MPG combined MPG.

[Gas Man]

Originally Posted by Rider

Most people already have a car payment so getting a new car won't change their financial status. I have 1 car that's paid for and 1 one that I am leasing. When my lease iis up next year, I'll get something new. GM isn't leasing anymore, so I'll either need to buy a new car or find another manufacturer that still does leasing.

I'm in the same boat but twice over. Lease both my lincoln and the chevy. I'm not sure what we will do. I may consider buying out the lincoln. But with the chevy, being I have the new hd I don't plan on pulling trailers anymore, so I'm going to downgrade. Thinking HHR SS Panel. Can get it for $20k.

[G-Rex]

They'll never get my Corvette!

All of my cars and motorcycles are paid for. I like it that way and I'm keeping it that way. Nothing in the affordable range that's out on the market now appeals to me anyway.