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Discussion Starter · #1 ·
I guess I must be on the wrong page…


A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.


A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year.



So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.


They claim 700,000 vehicles – so that's 224 million gallons / year.


That equates to a bit over 5 million barrels of oil.


5 million barrels of oil is about ¼ of one day's US consumption.


And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.


So, we all contributed to spending $3 billion to save $350 million.


How good a deal was that ???





They'll probably do a great job with health care though.
 

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I think this was more about getting the banks to loosen up, most of the clunker deals were financed......and who owes the the government the most money?
 

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On top of that the dealers that took all of these clunkers in are having a hard time getting paird for them. About 10% have been paid for by Uncle Sam so far. AWSOME!!!
 

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I guess I must be on the wrong page…


A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.


A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year.



So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.


They claim 700,000 vehicles – so that's 224 million gallons / year.


That equates to a bit over 5 million barrels of oil.


5 million barrels of oil is about ¼ of one day's US consumption.


And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.


So, we all contributed to spending $3 billion to save $350 million.


How good a deal was that ???





They'll probably do a great job with health care though.


So where did this # come from? Do you need another DIME bag, and if so , just how much is that over the course of a year? :CrackHead:
 

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What about all the cars and trucks that were trade in that we will never see again. I know many that would like to buy a used car or truck. The clunkers were good trucks that got bad mpg.
 

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If a person turns in a clunker and buys new he now has finance charges and is required to carry full coverage. Many probably drove clunkers because they couldn't aford a new ride untill gov. paid for there down payment. Now with the extra money they have to put out, how will they pay for tags a year from now ? Here in AZ. our plates are pretty expensive. So I think there will be alot of 1 year old cars for sale in about 10 months and a bunch of repos. What do you guys think ?
 

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As much as everyone thinks this program helped "less than fortunate" people trade their clunker for a new car it actually wasn't that much. Consumers that are forced to drive "clunkers" because they couldn't afford anything else generally don't have lots of money which usually translates into not so great credit. Those factors kept alot of people from getting financed.

The people that actually benefited from this program are the people that chose to drive "clunkers". I'm talking about the tightest people in our society. People that have excellent credit, no debt and good incomes. These were the people that chose to drive paid off cars and save all of their money. They are the ones who's eyes lit up when this program was announced and they figured out they could get $4500 for their 275,000 mile Toyota 4Runner.
 

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So where did this # come from? Do you need another DIME bag, and if so , just how much is that over the course of a year? :CrackHead:
do you pay attention to what Congress does at all? Congress allocated 3 billion of our tax dollars to pay for the program.
 

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I bought a Chevy Silverado 2500 HD 4x4 with a 6.6 turbo when people were trading them in the first week of Cash for clunkers. Gets 14 MPG towing, it's a cadillac clunker! Sweet ride and yanks the boat to Rosey with no issues. I banked $7K off of the street value when I signed on the dotted line.

When the economic pendulum (sp) swings, jump in and buy low.

I know the guy that traded this ride in and he took very good care of it. it's nice running up the 4-lane to Rosey and passing the gassers on the way - doing the legal speed limit :biggrin:
 

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Discussion Starter · #12 ·
So where did this # come from? Do you need another DIME bag, and if so , just how much is that over the course of a year? :CrackHead:
And this coming from a guy who gets drunker than 10 Indians the same day his Probation Officer is coming to the house to give you a piss test ?.

Don't make me call your probation Officer again.
 

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All I see is allot more people with allot more debt with allot more vehicles worth allot less than is owed on them.

I think there is probably only a small percentage of people that jumped on this bandwagon that actually have the income to afford them. I agree fully with the statement about, now they have a payment (they did not have before) and now they have FULL coverage insurance to pay instead of liability. I think we will see repos at a later date when reality sets in for some of these people. Then the banks can deal with this issue just like they are dealing with all the people that walked away from their homes/loans.

So much stimulating the economy in the long run? I guess it stimulated the car industry, but if they are not getting paid............
 

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I heard all the vehicles will be turned into scrap metal and that metal (supposed to stay in the US) will be recycled.
 
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