Did anyone use the Gov. Aide Cash-4-Clunkers?

Did anyone use the Gov. Aide Cash-4-Clunkers? If so, do you think it was worth it?

It seems to me a joke. They say you can get up to 4,500, but as far as auto loans go, we know that you not goin to get much of anything even out of a vehicle around 2 years old. Since it started (and ending today) they've given $2.5bil in rebates.

To me, making the Gov. Look like its helping, but considering the amount you MIGHT get back, its only putting those who used more in debt, and giving the dealerships more money for pocket when their location closes. Hope Im wrong!

Asked by StoneBlizzard 31 months ago Similar Questions: Gov Aide Cash 4 Clunkers Recent Questions About: Gov Aide Cash 4 Clunkers Business > Financial Planning.

Similar Questions: Gov Aide Cash 4 Clunkers Recent Questions About: Gov Aide Cash 4 Clunkers.

After having given away billions faster than even the optimists had anticipated, it was announced Friday that the federal government’s “Cash for Clunkers” program is coming to an early end. But, based on the standards of economic analysis which prevail in Washington, Wall Street and academia, the program must be considered a master stroke of public policy. These experts will tell you that by mandating that citizens destroy older (but still working) vehicles to receive $4,500 toward the purchase of a new car, the program not only revved up the economy by encouraging Americans to borrow more, but it may have, perhaps, made some great strides in saving the planet by reducing carbon emissions.

With this solid win-win now on the books, the time has come to put the strategy to work in other areas. For instance, the government could use these lessons learned to help the moribund housing sector. I propose the “Dough for Dumps” stimulus program.

Here’s how it would work:Homeowners struggling to make payments on environmentally inefficient homes can apply for government aid to destroy their old homes and receive guaranteed loans to buy newly constructed houses, provided they are furnished with the latest “green” advancements in energy systems and building materials. As with the “Cash for Clunkers” program, this plan would solve many problems at once. First, it will help put a floor under falling home prices by reducing the glut of houses currently on the market.

The best way to stop prices from falling, and thereby reduce the foreclosure wave, is to reduce supply. Left alone, the market would do this by lowering prices, which would bring more buyers into the market. But this approach falls on the back of homeowners whose only crime was to overpay for a house.

A more socially equitable method would be for all taxpayers to shoulder the burden through a government bulldozing program. In addition to contracting the supply of homes, the program would also stimulate the economy by providing funds to hire environmentally savvy builders and contractors (not to mention the workers needed to demolish the old homes). The resulting demand would help to reduce unemployment, especially in the housing sector.

Government incentives and subsidies could also give an important boost to the developers and manufacturers of “green” windows, solar heating systems, furnaces and water systems. Once this program has rejuvenated the real estate market, citizens should also be encouraged to burn their old furniture and clothing, thereby sparking demand for new goods from our nation’s struggling retailers. When you think about it, the possibilities are endless.

If these proposals seem ridiculous, it is because they are. But they are no less ridiculous than the “Cash for Clunkers” program that inspired them. All are examples of the “broken window” fallacy of economics, which argues that economic activity can be stimulated by the need to replace something that has been destroyed.

Unfortunately, many of our “best” economists subscribe to the notion. But society gains nothing from redundant activities. Digging holes just to fill them up does employ workers, but the work offers no benefit to anyone not receiving the wage.

Absent government incentives, such a job would create no profit and could only exist as a result of a subsidy from someone else. Such work also prevents workers from accomplishing tasks that create real wealth and actually benefit society. Sources: http://www.dailymarkets.com/economy/2009/08/23/the-end-of-cash-for-clunkers-dough-for-dumps-next/ .

Cash-4-Clunkers will boost the production and sales It is a plan to save economy against the recession. Sources: It is my opinion .

1 You're wrong. My nephew got the max $4500 for a crapped out piece o'junk that was over 10 years old, and got a new car that had never been off the lot. You have to look at the benefits to the auto companies - not just the dealerships.

Search here for this issue - it has been discussed often.

You're wrong. My nephew got the max $4500 for a crapped out piece o'junk that was over 10 years old, and got a new car that had never been off the lot. You have to look at the benefits to the auto companies - not just the dealerships.

Search here for this issue - it has been discussed often.

2 I didn't, but a friend of mine got a $3500 clunker trade-in on a 1996 Ford Explorer with over 200,000 miles on the odometer, not to mention some body rust. He bought a new Honda Pilot. He made out.

Book on his old SUV is around $800. That's $2.58 billion, not 2.5 million, BTW.

I didn't, but a friend of mine got a $3500 clunker trade-in on a 1996 Ford Explorer with over 200,000 miles on the odometer, not to mention some body rust. He bought a new Honda Pilot. He made out.

Book on his old SUV is around $800. That's $2.58 billion, not 2.5 million, BTW.

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Is there an advantage to doing your financial planning at a bank like harris or is it better to go with edward jones or.

Write 5 sentences about the role of education in successful financial planning, in which you correctly use a different.

Was the cash for clunkers trade-in good for the tax payers.

Planning a road-trip from Mobile AL to Los Angeles in a 4 day trip. Any suggestions on what to do along the way?

Federal Reserve/U.S. Financial System Question(s): Part 4.

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