Did Cash for Clunkers hurt the poor?

[Anarchist420]

Dr. Paul once said "Cash for clunkers hurts the poor."

I think that it might have, because if it weren't for cash for clunkers, more poor people would have had a car donated to them.

 

[waggy]

not to mention people were idiots. they where selling and buying used cars that should have been a grand for 2-4grand.

 

[God Mode]

Yes. I kept my old car which I only use for groceries or shopping while my neighbors are making payments on cars that they shouldn't have.

 

[ElFenix]

Dr. Paul once said "Cash for clunkers hurts the poor."

I think that it might have, because if it weren't for cash for clunkers, more poor people would have had a car donated to them.

normally those cars would have hit the used market and provided supply. with less supply prices tend to increase. that's why it was bad for the poor, increased car prices.

 

[Siddhartha]

Dr. Paul once said "Cash for clunkers hurts the poor."

I think that it might have, because if it weren't for cash for clunkers, more poor people would have had a car donated to them.

This is the first time I have seen you express any concern for the poor.

 

[ericlp]

I am sure it hurt as much as it helped. Tho, most people are pretty dumb when they walk into a pack of wolves at the car sales show room.

I've done it myself got sucked into a pressure sale. Sigh...

Tho for the smart shoppers...

At the time of the clunkers sales were tanking and new cars were at a rock bottom loss price.

If you had the cash or the majority of it, and got 2-4K or whatever it was for your beater it was a no brainer ....

Tho, if you car was perfectly good and could have gone on for another 10 years and got a car they can't afford or worse had to let it go back because they couldn't make the payments.

Sorry to burst your bubble but it happens all the time. Clunker program or not. Matter of fact probably 10 or so poor people are getting there cars towed right now as we speak.

Stupid people or just people that got sucked into a sale and lost their job or down on their luck. Don't know. Don't care. People need to stop financing and using credit cards to buy xmas gifts to go into even more greater debt.

Personally I think not teaching money values in school and watching the average american with over 10K in credit debt is disgusting. If I don't have $$ to pay off the cards then oh well! I guess that new toy will have to sit on the shelf a little longer!

 

[dmcowen674]

Did Cash for Clunkers hurt the poor?

Doesn't matter, we had to get all that metal to China.

 

[Zebo]

Of course it did.

a) debt is not doing anyone any favors unless debt produces more income than to service of course.
b) if they had cash it asset strips them putting them into a depreciating asset instead of an appreciating asset.

This was a bailout to car makers.

But you need a car.... but maybe not a new one.

I've personally only bought 1 new car in my life, young dumb 18 yr old, brand new 4 runner. Dad told me put it in MS... would have been worth 2.2 million had I listened. 4 runner OTOH is sitting in a junk yard somewhere being salvaged for parts $100 at a time.

How I buy cars now is 1-2 years old. Saves 30-50% right there. Take it to mechanic for $80 who writes me up a list of everything wrong after thorough inspection. Take this huge estimate back to seller and negotiate for another 10-20% off.. Last car I bought, for myself, was a $42,000 town car with 7,000 miles for $17,000.

 

[Anarchist420]

This is the first time I have seen you express any concern for the poor.

You must have not been paying much attention. I hate Obama largely because he says he's out to help the poor and middle class, yet his policies do the deliberate opposite.

I think Obama's trying to hurt the poor purposefully, BTW. I also think if that Paul Krugman and Ben Bernanke aren't ignorant, then he has an agenda to help the rich get richer.

 

[feralkid]

You must have not been paying much attention. I hate Obama largely because he says he's out to help the poor and middle class, yet his policies do the deliberate opposite.

I think Obama's trying to hurt the poor purposefully, BTW. I also think if that Paul Krugman and Ben Bernanke aren't ignorant, then he has an agenda to help the rich get richer.

Well here's to thinking outside the box.









































A 4 mile double reverse batshit corkscrew outside the box.

 

[ericlp]

Of course it did.

a) debt is not doing anyone any favors unless debt produces more income than to service of course.
b) if they had cash it asset strips them putting them into a depreciating asset instead of an appreciating asset.

This was a bailout to car makers.

But you need a car.... but maybe not a new one.

I've personally only bought 1 new car in my life, young dumb 18 yr old, brand new 4 runner. Dad told me put it in MS... would have been worth 2.2 million had I listened. 4 runner OTOH is sitting in a junk yard somewhere being salvaged for parts $100 at a time.

How I buy cars now is 1-2 years old. Saves 30-50% right there. Take it to mechanic for $80 who writes me up a list of everything wrong after thorough inspection. Take this huge estimate back to seller and negotiate for another 10-20% off.. Last car I bought, for myself, was a $42,000 town car with 7,000 miles for $17,000.

You need a car ... Says who? You? BS... You got two feet what happened to walking? Buy a bike! Hell, buy a moped. They get 110mpg.

 

[Zebo]

Good point!

I'm frugal but not obsessive tho. I mean what the point of making money if you never spend it? Like anything, gotta have balance. Key is bang for the buck. So I buy used stuff. Restore things. Build my own house. etc. Have no expensive hobbies. Well fishing.. Hard to tow a pontoon boat or any boat for that matter with a moped.