Cash For Clunkers program...have you traded your car in?
By lynnemg
@lynnemg (4529)
United States
August 15, 2009 12:52pm CST
I will adamit, the idea of having a new car is quite appealing, but I have not fallen into the trap....yet. I look at it this way, yes, my car needs replacing, but I am not quite ready to get myself into such a large debt by taking advantage of this program. On the other hand, whether or not I take advantage of the program, in the end, all of us who pay taxes will be the ones paying for it anyway. Herein lies my dilema. Do I want to upgrade my vehicle and add another payment to my monthly bills, or do I just wait until I can buy something outright on my own? I think I will be one that waits even though I will also end up being one that ends up paying for the program in the end.
Have you taken advantage of the program? Why or why not?
4 responses
@ladym33 (10979)
• United States
21 Sep 09
Nope, I did not partake in that my Mini Van is only 5 years old, and has just 50,000 miles on it. So I am still happy with it, and it would not qualify. My husband's car could not quite qualify either although it is starting to have some problems. I think it was a good program though and it certainly helped the auto industry and got some auto sales people some nice sales and commissions.
@killersss (638)
• India
20 Sep 09
well, i have never been into this program, may be my dad has taken advantage of it because it didn't buy my car, my dad bought it for me, so i don't know what all did he do. what i know is that he sold our very old car which would have been sold by some dealer or stuff.
@xfahctor (14118)
• Lancaster, New Hampshire
15 Aug 09
I haven't because I LIKE my clunker. I own it out right so the only real bill on it right now is registering it, inspecting it and gas. If I trade it in, I have all of that PLUS another car payment, ans all to get a car I didn't need to get rid of. Besides, if I trade it in, it will have to be destroyed and that will take one more car off the road that someone as poor asI am can afford. This program is going to be doing this to a lot of cars, it is going to reduce the number of affordable cars for many of us. It is also going to create a mini car bubble, similar to the housing bubble, but as people begin to take on car payments they can't afford, there is going to be all kinds of defaults.
@dragon54u (31634)
• United States
16 Aug 09
It's insane to me that in this day of people having more bills than they can pay, the gov't is encouraging even more debt! And they're removing perfectly good cars from the road by destroying them so that people like you and me won't be able to get an affordable used car.
I work hard to be debt free, although I do have my mortgage payment. I'm beginning to wish I hadn't trapped myself into that two years ago but I do love my house and my mortgage is about the same as rent at a decent apartment.
If your car runs well, keep it. If it's more than 7-10 years old and needs major repairs it's best to get a new one I think. Hang on for as long as you can! The economy is going to get worse and worse and prices will plummet in a few months, I think. But try to stay as much out of debt as possible.
