[freemike]

Here is something else, I know it has been touched on before. But, I was about ready to start looking for an old car for my son who was soon to turn 16. I was looking for an old boat, old Buick or something. A $1000. around town kind of thing.
Well,, now I am wondering,, that $1000. car just shot up in price to $4500.??

[PLMerite]

“Well,, now I am wondering,, that $1000. car just shot up in price to $4500.??”

No, you have to own the clunker for a year before you can turn it in, so probably no effect there.

[aruanan]

Well,, now I am wondering,, that $1000. car just shot up in price to $4500.??

The federal government doesn't have enough money to buy up all the $1000 cars or to drive up the price in anticipation. Besides, if I have a clunker that I can sell to someone for $1000 cash, it's worth $4500 to me only if I choose to go into debt for much, much more buying a new car. Many of those folks with a $1000 dollar clunker for sale would rather have the $1000 as cash in their pockets than to use it as a means to be in debt for tens of thousands of dollars.

[Onerom99]

I believe you have to own the car for so long (6 months? 12?) before you can turn in your clunker.

It shot up to $4500 for the guy who put the ad in the paper.

[CodeToad]

You probably can still find one but the price no doubt went up as suply just went down significantly.

[Little Pig]

If it’s older than 25 years, it doesn’t qualify for the program, so early ‘80s and older cars will be untouched by this lunacy.