Cash for Clunkers

@mzz663 (2773)
United States
September 24, 2009 10:24pm CST
Now that the cash for clunkers is over, they're seeing that the cars that were traded in are going to the scrap yards because they can't be re-sold. The price of scrap is down so they aren't making any money there. The used car salesmen lost out on making any money on these cars that were still possibly drivable. The car manufacturers are picking up a little bit. Who actually wins in this situation besides the new car owners?
3 responses
@stephcjh (32327)
• United States
25 Sep 09
I think it is mainly the new car owners. I would not want a new car payment though. I know it helps the economy but still. I do not really see what it helped other than the environment.
2 people like this
@dragon54u (31644)
• United States
25 Sep 09
If we all worked on our personal finances and improved them, I think the economy would be helped more in the long run. You are right and you are guarding your finances by not putting yourself more in debt!
1 person likes this
@maezee (38845)
• United States
25 Sep 09
I wonder if they couldn't brainstorm and think of some other way to make money off of the old cars. I know certain parts of the cars are worth more than others; like catalytic converters (I think they're called) I know you can at least get $100-$200 per set. So, I'm wondering if they're just totally junking the car (into "scrap" material), or if they've considered taking the car apart and perhaps selling the parts that still work, and having the more 'rewarding' parts of the car (like the catalytic converters) scrapped. If that makes any sense. I have a feeling that they could make it work if they really wanted to.
1 person likes this
@mzz663 (2773)
• United States
26 Sep 09
There's one catalytic converter on most cars, mine has two. The price of scrap metal is low right now and possibly a converter is worth about $50, if even that. I think they could make it work too, but the cars are supposed to be scrapped, not resold.
@dragon54u (31644)
• United States
25 Sep 09
The government wins! They've convinced the public that they are "stimulating" the economy and increasing sales while the hidden facts is that this actually hurt many people as it happened and in the long term. Those used cars would normally provide fairly affordable transportation to those who can't afford new car payments and now those people have been screwed. It has actually hurt more than it helped. But the gov't got great publicity and many people thought that it was a good thing because they don't look at the facts.
1 person likes this