There is a lot of "buyer's remorse" in these deals. The biggest one? Is now they all have a $200 to $300 a month car payment, when before they didn't have that expense.
What? Did they think they were getting the car for free? Did they not understand the contract they signed?
People are stupid generally. They think they got a good deal because they got a $4500 rebate. When in reality they probably didn’t negotiate with the dealer and overpaid by $2000 for the car, and in some cases got rid of a $2500 used car with 3 or more years of useful life in it, then paid 6% sales tax on the rebate amount, and of course now are stuck with a $300 or more car payment, plus higher insurance costs on a new vehicle, which probably offsets the gas savings. They would have been better off putting away $300 per month over the next three years and paying cash for a good 2-3 year old car when their current car dies.
Cash for clunkers is an auto/dealership/bank bailout, and political payback for green weenies, at taxpayer expense, while also hurting the gullible consumers and hurting the supply of used cars and parts. Cluster phuck.
ping