Ok, so the government now owns a big chunk of the new GM and Chrysler. And wow, they come up with a program to jump start the auto industry. But ask yourself some questions about this program and you will find that it really doesn't help anyone and is just another waste of money. And if you think you are going to get a great deal with the program, think again!
So what is the Cash for Clunkers program? If you own (and have owned and insured) a car that is less than 25 years old and gets less than 18 miles to the gallon, you can trade it in on a better mileage NEW vehicle and get a credit of up to $4,500. Sounds good on the surface, until you start to think about the program.
First, that's a narrow band of cars out there still on the road, insured and worth less than $4,500. And honestly, if you are driving a $3,000 car are you the most likely new car buyer? The dealer has to agree to destroy your vehicle OR sell it for parts. Well, a car is worth more in parts than in one piece anyway, so your dealer gets the government's money (read-- your tax money), then gets some more money by selling off the parts to keep the very cars the government is trying to remove from the road running!
Let's not forget that buying a new car is almost always a losing proposition. Let's say you do get a deal and you get the credit. Not long after driving off the lot, your vehicle will have lost 10-20% of its value. On a $25,000 new car, that means your $4,500 savings is gone before you sign the paperwork. Most cars lose over half their value in the first few years. Why not get an honest trade in value on that car, buy the vehicle you WANT and enjoy a great pre-owned vehicle from Consumers Auto Warehouse!
Check us out at www.cawcawcaw.com!
So what is the Cash for Clunkers program? If you own (and have owned and insured) a car that is less than 25 years old and gets less than 18 miles to the gallon, you can trade it in on a better mileage NEW vehicle and get a credit of up to $4,500. Sounds good on the surface, until you start to think about the program.
First, that's a narrow band of cars out there still on the road, insured and worth less than $4,500. And honestly, if you are driving a $3,000 car are you the most likely new car buyer? The dealer has to agree to destroy your vehicle OR sell it for parts. Well, a car is worth more in parts than in one piece anyway, so your dealer gets the government's money (read-- your tax money), then gets some more money by selling off the parts to keep the very cars the government is trying to remove from the road running!
Let's not forget that buying a new car is almost always a losing proposition. Let's say you do get a deal and you get the credit. Not long after driving off the lot, your vehicle will have lost 10-20% of its value. On a $25,000 new car, that means your $4,500 savings is gone before you sign the paperwork. Most cars lose over half their value in the first few years. Why not get an honest trade in value on that car, buy the vehicle you WANT and enjoy a great pre-owned vehicle from Consumers Auto Warehouse!
Check us out at www.cawcawcaw.com!
Comments
Post a Comment