Posted by cket on August 2, 2009, 0:56:07
67.72.98.89
I Have tried to look at this program and find the rationality for it. I see the automakers are in a bind to move their new inventory yet I know their predicament is largely due to gov't interference in the first place.
Wasn't the rule bending to qualify for home loans responsible for the eventual default and all the billions $s required to tarp ,bail out banks etc? Didn't this start the spirals which have required trillions promised into the system to try to correct what was decreed to the lending industry? After all the forclosures and resets didn't the gov't step in and give credits or relief to try to forestall foreclosures again- and it still didn't work for many- except WE are all paying for this.
So now it seems people who could not afford to replace their gas-guzzler all these years have an incentive to get into a new-car contract. So now they have a brand new vehicle and all other circumstances remain the same except now there are monthly payments of hundreds of $s and certain obligation to have dealer maintanence etc.
I don't know. So the farm vehicle or kid's first fixer upper is replaced with a new car but the clunker was paid for and he/she could modify it.
Now it gets shredded and the new car is actually the parents'. Like the dealer contract is sorta like with the gov't. Like the truly needy could not qualify for the contract but they must
Like expect to see another bailout months or years down the road where WE effectively pay the remaining payments and the circus of "unscrupelous dealerships or companies hauled before congress for selling "inappropriate" vehicles during this program. It just goes on.
I wish someone would explain it to me.
Is this another smoke screen while they jam cap and tax down our throat? Why cannot parts from these clunkers be re-utilized? What does that prove? What about a perfect engine or Trans or tires having to be burned or shredded at extra cost(OURS)instead of being the property of the dealership? How does this promote recycle theory?
Help!
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