Quote:
Originally Posted by Cdnwolf
That was what he traded his clunker in for!!! Interesting concept that cash for clunkers program... Get people who have no money or bad credit to invest in new cars and then when they default have foreclosure and repo's on all the vehicles.
Hey wait a minute... isn't that what happened in the housing market????
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It's hurting us in the auto parts business as well as some of the used car dealers I've talked to. Most people I hang with are the types that can only afford those $2000 to $5000 cars and that program is hurting them by taking some of those cars off the market as well as hurt those dealers who are trying to sell them. Even so, I cannot afford a car payment for a new car, program or no program. Expect repos to rise.
Chuck