Many people who bought a car using Cash For Clunkers screwed themselves.
Sales prices went up, many incentives went away, financing went up and the $4500 appears to be taxable as income.
Auto sales are horrible now and the deals are better than when CfC was on…
I see the same foolishness of people paying $10K-$25K more than a house is worth so they can get an $8000 credit…bidding prices up.
There are millions of foreclosures yet to come nationwide. Without bailout money and inventory ultimately coming to market combined with the difficulty for many to get financing and falling rental prices, it only looks like prices can go in one direction without continued govt intervention & manipulation.
The emperor has no clothes…. HLS
