An excellent pictorial explanation of my opinion of Cash for Clunkers:

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New car dealers routinely entice people with a cash rebate to trick them into getting into an automobile loan they can’t afford. There was no need for the US government to entice people to get into debt.

One reason we got into this mess was because too many people bought things they couldn’t afford to pay back. Borrowing more money is not an efficient way to get out of debt.

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5 Comments

Filed under News and politics

5 responses to “An excellent pictorial explanation of my opinion of Cash for Clunkers:

  1. ROCKET

    Absolutely spot on! Two of our neighbors traded in real clunkers, one a 1989 Chevy and the other a pick up of indeterminate age because of all the Bondo and primer. They are both now driving shiny 2010 Ford F-150s. If they could afford car payments they would have been driving better cars years ago. My first thought upon seeing those trucks was "I wonder if I\’ll see those guys on Operation Repo?"

  2. X-Evolutionist

    Rocket, Ain\’t it the truth…. In my humble opinion, it is cheaper to save up and pay cash than to make payments. Most of what you pay in a payment is interest. I\’ve driven the same vehicle since 1991. I\’m not much for needing the latest thing in car fashion…. Hey, Rocket, I forget. Are you in Coffee Talk? If not, please join: http://coffee-talk.groups.live.com/ It\’s my group. X

  3. X-Evolutionist

    Refuling tanker bump

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