Clunkers Have Met Their Match!

Cash for Clunkers is a government run program for the residents of the U.S.  In this program you can trade in your old gas guzzling clunker for credit to by a new car.  If your car is eligible you can get up to $4,500 of credit.  

The first batch of government money put in the program is depleted and the program will probably be renewed.  President Obama stated that the program "has succeeded well beyond our expectations all expectations."  

This plan has worked and most dealerships have seen an increase in sales but has Cash for Clunkers really jump started our economy?  

One of the most important statistics to know is that the most popular car to trade in is a Ford Explorer and the most popular car to by with the credit…The Toyota Corrola.  Although the Toyota Corrola is the most popular car sold in the U.S. it's still a foreign automaker.  

I believe this plan is not helping dealerships with U.S. cars as much as it's helping dealerships with Japanese designed cars.  

Do you think we should continue to renew this program for a while or do you think taxpayer dollars should go to a different cause?   

Cars-cash-for-clunkers-logo

Explorer in blue250px-2009_Toyota_Corolla_LE_

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About Bill Ferriter

I'm a real-live, bona-fide, full-time practicing classroom teacher. #takeTHAT
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2 Responses to Clunkers Have Met Their Match!

  1. Monkey Man says:

    I think that the Cash for Clunkers program was a great idea but it only benifits people that actually use it. It’s not fair that people who don’t even want to use the program are forced to pay taxes for it. I absolutely think that taxpayer money should go to a different cause.

  2. I don’t think this “Cash for Clunkers” idea will work because the government is giving back very little money. The people with the guzzlers paid nearly twenty to forty thousand dollars for it! So basically, all they get is about ten percent credit…AT MAX!!! So this means that someone trades in a new 2010 Ford Explorer for nearly forty thousand dollars and gets back $4,500 back. That is just not fair. Do you think the credit you get back is fair?
    Guys, and guess what else I found out? What does the car sellers do with the used cars? They SELL them. For how much? As far as I can see, WAY more than the credit you get. For example, lets say a man traded in a 2004 Ford Explorer and gets four thousand dollars of credit. Do you have any idea how much they resell it for? Almost twenty thousand dollars! This is just like Gamestop or someplace like that wher you sell your item and they resell it for much higher than your credit. Is this fair to you? Is Cash for Clunkers a good idea?

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