What do you think about the new grant money to buy a Auto?

United States
August 3, 2009 8:16am CST
When the president first put this into motion, it all sounded so good. He was doing this to help save the auto makers from going under and thinks it will help the american people. I look at this way. WE are in such finanical bind within each family that how can a family afford any payment. You will still have to pay that high payment and to those who are just starting out or have the slow credit will have a high interest rate which in return will have a higher payment. The only thing that see good of the situation is that you can an auto that is cheaper on gas. What is your opinion on the grant money given for this purchase?
1 person likes this
3 responses
@deebomb (15322)
• United States
3 Aug 09
Cash for clunkers might look good on the surface but not all the old cars qualify. Your right in that it would be adding high payments and people going into debt that they can't afford, which in my opinion got us in the fix we are in now. A new car loses too much of it's value as soon as it's driven off the lot any way. We will be paying for the great so called gift for years to come higher taxes Along with higher taxes for all of Obama's great programs.
• United States
3 Aug 09
Yeah really! I want to think you for your response. I know a couple that took the bite on this and now they have a payment that is killing them, but they have no choice. I think everyone needs to think twice.
1 person likes this
@deebomb (15322)
• United States
4 Aug 09
These new cars will also have higher insurance premiums. My kids drive clunkers that are paid off and they were excited about the clunker deal until I pointed out that they wouldprobably have payments of over $200 per month and raised insurance. Now is not the time to be going into debt. I don't think this deal will really help the economy at all.
@rosdimy (3936)
• Malaysia
4 Aug 09
I hope you do not mind me giving my view on this matter,because the government started a similar scheme last year. In theory the scheme can help revive, or at least maintain, the economy. The automotive industry does not stand on its own. There are other supporting industries like food, and cleaning services. Should the automotive industry slows down, there will be a domino effect on other industries. Steel, electronics, transport services,and to a certain extent internal tourism, are several of the areas that will be affected. Recovery will take a long time. Based on what is happening here, there should be other incentives for the people to go along with the scheme. As an example, government employees so far have received annual increment and bonuses. This helps them to keep up with the repayment schedule. The scheme in my country will be scrapped. The reason? Many owners of old cars feel that their vehicles are worth more than the MYR5,000 offered.
• United States
6 Aug 09
Your opinion matters to me. I want to thank you for your opinion on the subject. I had not really looked at it in a domino effect,but you are right that is more than likely to happen. Our contry needs to pull together and make it more livable.
@Citychic (4078)
• United States
3 Aug 09
What do you think about the new grant money to buy an auto? Hummm, right now I haven't heard too much about it. In the long run I suppose that it will help the economy out if everybody begin to switch over to getting smaller cars and if they are not gas gusslers like the typical SUV's that we all seem to think is so great then it out to be at least worth looking into. But I sure wouldn't want to have to deal with a new car note. Happy mylot!
• United States
3 Aug 09
It is an adversment about how the president has signed on with auto sales company to let people bring in their old gas gussler auto and trade in for a NEW auto that is cheaper on gas. The grant will give them an extra $3000 toward downpayment. The payment is still there and it isn't cheap either. Thanks for your response.