| Author | Message | ||
     Buellgrrrl |
Sorry to be the bringer of "bad" news, but CFC has been a roaring success. I've made over a thousand dollars on Ford stock since CFC started up. I haven't even added up yet how much the supplier stock I own have gone up in the last week. With the CFC rebate and how much my Ford stock has gone up during the Obama administration, I'm halfway to the price of a new Focus or Ranger. So congress, let's have some more of this "failed" Cash for Clunkers program! | ||
| Court |
>>>So congress, let's have some more of this "failed" Cash for Clunkers program! Actually you'll likely be getting it. The wizards, who estimated the total cost of the program at less that $1,000,000,000 kind of "missed the mark" and need to add $2,000,000,000. Be mindful that this additional $2,000,000,000 is NOT TO DO MORE, but just to COVER THE MISTAKEN COST ESTIMATE. And you want these folks running health care? >>>>>I will laugh my way to the tune of $4500 for my worn out high mileage car that is only worth $500. I may be laughing with you as I dump my 2006 Ford F-150 for a new Porsche. I figure if someone was stupid enough to put this program in place . . . what the heck? | ||
| Doughnut |
When the fat kid is watching the donuts, do you really wonder when some go missing>? I knew I was being followed! | ||
| Crackhead |
>>>>>I will laugh my way to the tune of $4500 for my worn out high mileage car that is only worth $500. >>>I may be laughing with you as I dump my 2006 Ford F-150 for a new Porsche. I figure if someone was stupid enough to put this program in place . . . what the heck? You are proving my point. you can afford a new car and haven't been living beyond your means and thus finally a benefit for the smart people. | ||
| Crackhead |
Chellem, have you looked at the requirements for loans lately? Most of the people that were living beyond their means already have bad credit scores because they couldn't afford the mortgage, boat, car and motorcycle payments. | ||
| Reindog |
The problem with the window braking analogy is that there are people like me that have, 1. been smart with money 2. have been holding out for deals 3. have 900+ credit score 4. are driving an old until the wheels fall off to save money The CFC benfits people that have been smart with their money all along. Because we have the $ to spend right now on a car. Good for you but irrelevant to the subject of CFC. CFC is bad in many ways and has several unintended consequences which usually happens every time the Government tries to do "good". - Charities are hurt badly due to falling car donations. - The used parts from CFC cars are being destroyed which hurts the auto salvage industry. Not all old cars are being traded in and need used parts. Wouldn't it be friendlier to the environment to recycle the parts? - CFC disrupts the market now and more importantly later. People would have had to replace their so-called "clunkers" within a few years anyhow. - CFC once again exposes the inability of the government to administrate a program. Dealers are having trouble getting their rebates. - CFC was improperly planned by the Government. What was supposed to last for several months, lasted ONE week. Wait until the Government rations out 100% of our Health Care, folks. - CFC is a payback to the UAW for supporting Obama. - Used car dealers are being hurt because there is a smaller market. - The US people go further into debt to support this program. - CFC is another brick in the wall to get the American people to believe that the Government will take care of them cradle to grave. It won't and it can't. - CFC is a program designed to stimulate sales to the Government/Union owned GM. I wish I owned a business like this. - CFC will get irresponsible people further in debt. These are the same people who helped us get here in the first place. - CFC is morally wrong. - CFC is against everything that your mother and your father taught you of how to be a responsible citizen. VOTE THESE RASCALS IN CONGRESS OUT OF OFFICE! | ||
| Sifo |
Sorry to be the bringer of "bad" news, but CFC has been a roaring success. I think the success/failure has to be different than just a measure of can the government give away money. As a means of cutting CO2 emissions I think it's virtually meaningless to the total CO2 output. As far as what percentage of foreign oil it will save us from purchasing I'm willing to bet that the amount will be a fraction of a percent. Again virtually meaningless. >>>I may be laughing with you as I dump my 2006 Ford F-150 for a new Porsche. I figure if someone was stupid enough to put this program in place . . . what the heck? You are proving my point. you can afford a new car and haven't been living beyond your means and thus finally a benefit for the smart people. I think anyone good with cash will first check if their vehicle could get a higher trade in than the C4C program. KBB trade in value for a 2006 F-150 long bed (defaulting to the options that were defaulted by KBB) in my zip code is in the $7,000 - $8,500 range depending on condition. Oddly not long ago my wife and I were discussing trading in the old Buick Century we one for a smaller car that gets better mileage. Buick Century does not qualify for this program though (neither does my van). They both are too economical to qualify, regardless of how much better MPG the new vehicle we might buy would be. Makes no sense to me at all. I think that there will be many unintended consequences that are seen in the next year from this program. For now though it's clear that the administration had no idea what the cost would be. Yup, raging success. | ||
| Reindog |
I've made over a thousand dollars on Ford stock since CFC started up. I haven't even added up yet how much the supplier stock I own have gone up in the last week. Congratulations, grrl. If you haven't noticed, ALL stocks have been going up lately. We have broken through resistance levels. F might be going up even more than it should due to rumor and speculation which is good for you. Remember to "buy on the rumor and sell on the news". | ||
| Sifo |
I always love the I made/lost X amount in a given period. If she happened to buy in right before CFC and sold today she could make that claim. You haven't made/lost anything until you sell your stocks. I don't think Crackhead knows much about loans either, with his "900+" credit score. | ||
| Reindog |
Good catch, Sifo. I didn't notice the booboo. The FICO credit score ranges between 300 and 850. Crackhead? | ||
| Sifo |
Anything above 780 is considered an excellent credit rating. Very few people get rated that high, even very wealthy people. | ||
| Crackhead |
Sifo, Thanks for finding the typo. Just replace 900+ with 800+. | ||
| Reindog |
I clocked in at 790 but I didn't need/want the credit for my "new" 2008 Tacoma with 1K miles on it. (Message edited by reindog on August 03, 2009) | ||
| P_squared |
So let me get this straight. I can trade in a car (as long as it qualifies) and receive up to $4500 dollars for "free" towards the purchase of an approved new car. The program, initially funded at $1B ran out of money in 1 week. The Pols are working on approving an additional $2B in funding. So, OUR tax money is being used to subsidize new car sales. How can ANY sane person think this is a "success" in any way, shape or form? Unless of course they don't pay taxes to begin with. Think folks. WE are subsidizing new car sales with OUR money. There's nothing here to be "happy" about IMO. | ||
| Sifo |
P_squared, This is exactly what I'm having a hard time understanding. The ability to give away $1B of other peoples money in a week is not my idea of a successful program. I was on vacation when this program started and missed the lead up to it. I'm not really clear on what the supposed benefits of this program are. Wouldn't it be more successful for the government to just give everyone with a license a new car? | ||
| Court |
>>>I don't think Crackhead knows much about loans either, with his "900+" credit score. Kinda. You may want to bone up on the Vantage Score Model. It's new as of (I'm working from memory here) 2005 but is not in wide use. But . . . the information was generally as accurate as a lot of internet stuff. I'm becoming fonder of real libraries everyday. The "Cash For Clunkers" . . . is ridiculous and if it were a business it'd be bankrupt it's 5th day. Interesting how many folks, freedom loving in their words, are cool with the government trying to micro-manage sectors of the economy. Ask the tens of thousands of unemployed (permanently) UAW members or the 1,000 HD folks leaving this week. Stand outside the York Harley-Davidson plant the day it close and ask folks how this who $878,000,000,000 is working for them. Good news is that my morning commute will benefit . . . guess where a "boatload" of your "stimulus" money is going ($47,700,000 of it anyway) . . . hahahahaha . . to OVERTIME for the Mechanics on the Staten Island Ferry (including the 10 of them who made just over $163,000 last year with OT) to "improve public transportation". Guess how many jobs will be "saved or created"? Tick . . . tick . . . tick . . . THAT'S RIGHT! . . . ZERO. People, no kidding, buy into this stuff and actually believe it. Keep an eye on Rahm. | ||
| Reindog |
When I did my "research", I saw that the VantageScore score ranges from 501-990 but the generally accepted score is FICO. "Keep an eye on Rahm". You can be damned sure that Rahm is keeping an eye on you. | ||
| Crackhead |
I wounder how much of the money given out is recycled back into next years treasury? Because you have to pay federal and state taxes on the car you might not have purchased and you have to pay fees to the DMV for tag transfer or new tags. I am wondering if the whole program is just a balance sheet swap. | ||
| Deadduck |
doesn't seem like a very balanced swap. tags and fees don't equal 4500 and scrap metal is going for around .05 cents a pound, probably less since there has been an influx of clunkers in the past week. | ||
| Buellinachinashop |
I wonder if Uncle Sam would let me trade my Vrod in for a model that gets better milage? | ||
| Froggy |
BCS, from my understanding (there has been some conflicting info), motorcycles do qualify if they fall into the same MPG brackets as the other vehicles. So you would need a sub 18mpg bike (busa?), or you could go the other way with a low mpg car and trade in on pretty much any bike out there. Hell you can get a Buell Cube for about the same cost of the voucher. | ||
| Buellinachinashop |
Is there a bike out there besides a NHRA drag bike that gets less than 18? | ||
| Redbuelljunkie |
Boss Hoss 502? | ||
| Sifo |
Looking at the cars.gov site the only options you have to see if your vehicle qualifies are "A car, pickup truck, van, or SUV with a Gross Vehicle Weight Rating (GVWR) of 8,500 lbs. or less" or "A truck, van, or SUV with a GVWR greater than 8,500 lbs. and less than 10,000 lbs". I'm guessing most bikes will have a GVWR of less than 8,500 lbs, so clicking that one gets you zero motorcycle manufactures that I can find. | ||
| Chellem |
Balance sheet swap run through a giant sieve, so that only the little bits run through and the big chunks get filtered off to. . . somewhere. I'm sure that some are benefitting, including some shareholders (although you'd have to weight the increase in share value against the overall increase in stocks - which I'm not smart enough to do), but if anyone read the analogy with the window, who are we stealing from? Someone. I think it's ourselves... When one business has their window broken, he has to replace it. The glass-monger makes money, and the person he purchases glass from makes money, they pay taxes on the income, and everyone's happy, right? Stimulated the economy - THANKS you hooligan for hurling that brick! What we need to do is HIRE MORE HOODLUMS and break EVERYONE'S windows - the economy will THRIVE!!! But really, that doesn't make sense. Inherently something is wrong. It's because it's a tunnel vision perspective, where you only see what you WANT to see. Well, the business owner isn't very happy. He had to spend money he probably would have used to buy something else. So wealth isn't created, just moved. Or worse, he files an insurance claim, and everyone shares a bit of the cost through increased premiums (taxes? Taxpayers?) You can't create wealth through this sort of waste and destruction. And the government doesn't move money around for free. There's always a cost. We just haven't gotten the bill yet. So enjoy the temporary funds you got! Maybe you'd better spend them on something, stimulate the economy a bit! ->ChelleM | ||
| Just_ziptab |
"Sorry to be the bringer of "bad" news, but CFC has been a roaring success. I've made over a thousand dollars on Ford stock since CFC started up"
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| Moxnix |
The next $2 billion for CARS is in question. Let's see, Obama runs Chrysler & GM, they sell a bunch of cars, and Barry pays off some of the national debt, right? Friend emailed that his car fit the criteria for this scheme, was wondering if he should join in. I says, if you get the full $4500, then an $18K purchase will cost you your clunker and $13.5K, or 25% off. And that he'd better hurry. Haven't heard back. Even something for $22.5K, less $4500 for a 20% savings is better than nuthin', which is what we'll all have by the time the dust settles. | ||
| Cochise |
For the record, I have seen a credit score on Transunion for over 850, sadly not mine, however, Reindog, you made some valid points, but CFC states that only the engine can't be sold. Everything else CAN be. Remember, they're recycling the metals also. Falling trade values are because of Ford, Dodge and Chrysler because of the so-called rebates, which is why most Hondas, have a better resale than most every competitor. There aren't any Honda cars that can be turned in as clunkers, they all come in ahead of 18 M.P.G. CFC is BETTER for the used car market because only the GOOD cars are left, none of those Redneck "Block Toppers". Have seen some of those good folks, my dad for instance, who are able to get out of their P.O.S and get into something better and less dangerous. Hopefully the bove wasn't too incoherent | ||
| Froggy |
The Ten Most Traded-In Vehicles (vehicle's EPA mileage) 1. 1998 Ford Explorer (14-17 mpg) 2. 1997 Ford Explorer (14-18 mpg) 3. 1996 Ford Explorer (14-18 mpg) 4. 1999 Ford Explorer (14-18 mpg) 5. Jeep Grand Cherokee 6. Jeep Cherokee 7. 1995 Ford Explorer (15-18 mpg) 8. 1994 Ford Explorer (15-18 mpg) 9. 1997 Ford Windstar (18 mpg) 10. 1999 Dodge Caravan (16-18 mpg) The Ten Most Purchased Vehicles (vehicle's EPA mileage) 1. Ford Focus (27-28 mpg) 2. Honda Civic (24-42 mpg) 3. Toyota Corolla (25-30 mpg) 4. Toyota Prius (46 mpg) 5. Ford Escape (20-32 mpg) 6. Toyota Camry (23-34 mpg) 7. Dodge Caliber (22-27 mpg) 8. Hyundai Elantra (26-28 mpg) 9. Honda Fit (29-31 mpg) 10. Chevy Cobalt (25-30 mpg | ||
| Court |
I liked the legislator from Texas today . . . he wants the feds to do a "CASH FOR CLUCKERS" program to help chicken farmers. Essentially pay folks to eat chicken. Essentially the EXACT same wealth transfer method as the stupid car program and it gets folks to forgo fattening things like beef in favor of chicken and we're a happier, healthier world. No kidding . . . this Obama guy is a genius. Loved watching Kathy Sebelius answer questions yesterday. Idiots all. |
