Joined Nov 10, 2007
23,443 Blog Posts
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Its good to help people increase their debt indeed.
Dear fly,
I signed up for the ppt lastnight and I can’t access the ppt forum.
need to sign in, knucklehead.
Same user and PW as you use to sign into PPT. If you have an problems, email Jeremy:
seasonalityreport-at-gmail.com
The video is a bit disingenuous… harrold is attacking a straw man.
Who’s going to bring in a 2-year old 30k sticker SUV and trade it for 4.5k? Depending on the condition that vehicle is most likely worth 10k atleast (almost certainly still under full warranty).
The vehicles that are being brought in by this program will be crappy pickup trucks and suv’s from the late 90’s whose values have depreciated below the 4.5k credit threhold, which is fine because that was what the program was intended to get off the streets. Rumors of ’08 Hummer’s being sold to the guvmint for 4.5k and a box of trinkets are greatly exaggerated.
Not that I support the program. 50% of the cost of any vehicle is the electronics, why should we throw that value out just because its attached to a crappy fuel system? It would make vastly more sense for the government to subsidize the replacement of the 11 mpg V8 engines to some sort of hybrid with less power. It would cost half as much and everyone except the hicks pulling their piker camper would switch.
I have a math equation. A piece of shit car that is worth $1000 being traded in for $4500, leaving that person with a free $3500. How about them apples.
Also, that old piece of shit got about 40 miles per gallon less than the new Prius many people are buying, saving them perhaps 1-3k per year in gas, which they can in-turn spend on important shit like Uggs.
My girlfriend has a 20 year old, paid for piece of crap that is going to die on the road due to rust. The floor and frame are falling apart. If the clunker program is applicable, I think she should go get a Toyota Yaris, or a comparable low priced new car. This seems like a good idea since she will need a new car soon regardless, and no dealer is going to give her very much for the rust bucket as a conventional trade in.
She does not listen to me anyway. so I guess it’s a moot point.
LOL!
I resemble that remark.
Awake is quite correct.. the depreciation cost is not being taken into account here (i.e. what the car is worth after those ‘ten years’)
Remember the old rule folks: Buy what appreciates – Lease what depreciates.
Depreciation on new car more, but doesn’t fall 25-30% right off the lot; that an old wives tale.
But depreciation happens, and must be factored, along with higher insurance
What’s wrong with a V-8? Turn in ur old one for a new, if you like. No $4500 credit – screw it.
If you’re married, or just march to the beat of a different drummer, get your Pre-Ass, then get ur bikini wax (organic) on the way home.
If you don’t like gas, get a real car like the Tesla, or take public trans.
Oil and natgas ok; better is whale blubber. Whale blubber is an organic, renewable resource that legally can be farmed by Eskimos. Allow the Eskimos a little more, and presto – you can set up blubber-power plants to fuel electric cars.
I traded in my old beater -1997 ford ranger, it was an extra in the household. Maybe worth $500
on a good day with everything going at once- brakes, clutch, power steering pump, leaking gas tank;
you get the idea. With $4500 credit I purchased a Prius . The car is a pretty sweet ride getting
56 mpg to and from work. The mileage should improve as the drive train breaks in.
All electric is next. Who will make the batteries, converters ect?
I hear the mileage breaks down — by almost 10mpg — about a year in on the Prius.
Plus, you’ve now got negative rap. At least w. the Ranger you could go to a Honkey Tonk and pick up hot red neck babes.
____
I would have kept the Ranger over a fucking Prius. No male should ever be caught dead driving one and if they are they should be summarily executed on the side of the road .
I have driven my share of muscle cars. The most powerful, a 454 big block chevy
bored out to 481 with a high rise intake manifold and nitrous oxide.That was back in
the 70’s when you could buy late 1960 cars that came out of the factory with balls.
They don’t make respectable cars anymore, times have changed.
If you think you look cool driving your bullshit crossover suv your kidding yourself.
Then again you boys are probably not old enough to drive yet.
A minor quibble with the video…based on the top 10 list of cash-for-clunkers sales, the average msrp of the cars sold is more like 20k, rather than 30k.
http://money.cnn.com/2009/08/04/autos/cash_for_clunkers_cars/index.htm
And, in any case, if you trade in a car that’s worth significantly more than $4500 (current value, not what you bought it for originally), then you’re just a fool and deserve further debt.
The biggest criticism of the program has got to be the additional billions of tax-payer funded “stimulus”. But by making a big deal out of this ROI spreadsheet business, the main/more important point gets lost…
Don is way off base on this one. I would agree with Awake and Mushroomz.
Harrold is fucking stupid if he actually believes the shit he is spewing. The guy sells a financial service but has no sense of depreciation! HAH.
That is one stupid sumbitch.
He seems to be a great candidate for an Amway home based business.
Yeah let me trade my $30,000 assest in for $4,500
They guy’s video is idiocy for all the reasons mentioned above …also, the car does not need to be ” resalable ” – – on the contrary, the gov’t is requiring that the dealer destroy the car’s engine by replacing the oil with a sodium silicate solution and running it until the engine seizes.
The people getting fucked over by the program are not the car buyers, rather it is our children who will have to pay off yet more debt to fund this program.
Hi, my friends at iBC. Don is exactly correct on the clunkers. I, of course, do not own any clunkers, but if you can follow Don’s reasoning, then you can follow mine. Mine is that I am not bankrupt despite an upcoming Chapter 7. Have a good day.
Lenny:
If that’s you, dude how the fuck did you ever manage to get so many free rides on private jets using other people’s money? Dude, you even hit your mother for 25G and never paid her back according to the stories floating around.
Of course you’re not bankrupt because you haven’t legally been declared one yet as that is a legal term. However, Dude, you owe people more money than the accumulated US government deficit.
How the fuck did you get in that position, Lenny. You had the car washes, received 50 mill for them and then thought you were a genius?
That guy is dead wrong he stated they will resell the cars. Wrong they must as part of the program scrap them…. I stopped listening there because if he does not know the basic program….Well then he is really full of shit…. GET A JOB YOU dumb ass.
I do not support the program….but just hate people who don’t have the facts.
If I had a piece of shit car, I’d be more than willing to swap it for 4500. The question is: should govt be doing this?
Indeed, my good man. _Should_ they?
Well, they _should_ if they have determined it will do some good out there (get shitballs off the road, promote the churn of vehicles (better cars to those that really should have them, new cars to those that would otherwise get a 2nd hand vehicle) – in other words, get money moving around the system, etc.
They should _not_ if it’s really just a bullshite way of making the little people happy.
Sir? Are you addressing me? I will have you know that I am no dude, dude. Check this out – http://www.legendsair.com That is one helluva site, no? And Players Club – that is mine too, dude.