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

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.

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.

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!