E30s are safe...for now

[Alkasquawlik]

Cash for Clunkers program is suspended

http://www.breitbart.com/article.php?id=D99P2U9G1&show_article=1

Really makes you wonder how the government is going to handle universal health care if they can't manage this. :eeek:

[TDE30]

Saw this yesterday on Jalopnik, I was stunned that 88-91 BMW M3's made the list of acceptable cars. What the fuck?

[Alkasquawlik]

Saw this yesterday on Jalopnik, I was stunned that 88-91 BMW M3's made the list of acceptable cars. What the fuck?

The majority of people owning those cars would never take them in, so we can assume that most of them are safe. There's always that though that some ignoramus brought it in to get crushed...

[equate975]

any idea when this will officially go through? I know a few people that are shopping right now just because of the c4c.

[Farbin Kaiber]

looks like they are gonna float in another 2 billion to hold up the program for at least another week or two.

[Alkasquawlik]

looks like they are gonna float in another 2 billion to hold up the program for at least another week or two.

It's ridiculous.
The program was started as a green initiative, not as a way to artificially inflate our GDP.

When they started the program, they said, "we want to take 250,000 clunkers off the road for $1B, that is our goal to clean up the air". That goal was accomplished, somewhat.

Now they want to float more money into a program that isn't that successful.

[Farbin Kaiber]

We know they are doing it in an attempt to bolster GM/Chrysler being as the US now has a "stake" in them. Boost their sales revenue, make some tax revenue, etc.

[Turf1600]

I'm worried about all of the people that won't be able to make the payments.

[Alkasquawlik]

The repo men should be having fun next year.

[thearkitekt]

im pretty sure the plan didnt state to lend money recklessly. You still have to get credit approval before buying the car.

As far as propping up us automakers goes, I can only imagine this is helping other companies as well. And it will help us automakers, as much as i would never own a US made car, i dont necessarily want all of their employees out of jobs either.

[Farbin Kaiber]

I can't wait to see what happens with this payment assurance stuff. Once they ger to 12 payments not made. I think I'll get into the repo biz.

[Alkasquawlik]

We know they are doing it in an attempt to bolster GM/Chrysler being as the US now has a "stake" in them. Boost their sales revenue, make some tax revenue, etc.

So why even call it an environmental program? So we can feel good about it, instead of pissing people off by calling it a subsidy?
Almost immediately after we assumed a percentage ownership of US auto manufacturers, we started pumping their goods; Obama was encouraging people to buy only AMERICAN cars not even a week after the details of the bankruptcy deals came out.

[pawi30]

[gazellebeigem3]

The whole plan has a huge fucking fundamental flaw: people are driving clunkers for a reason; they cant afford a new car payment!

isnt this promoting the irresponsible credit lifestyle that got us into the whole subprime mess?

[Alkasquawlik]

The whole plan has a huge fucking fundamental flaw: people are driving clunkers for a reason; they cant afford a new car payment!

isnt this promoting the irresponsible credit lifestyle that got us into the whole subprime mess?

Exactly, Obama preaches about fiscal responsibility, restraint, and "tightening the belt" while simultaniously pushing for the aquisition of additional debt and interest payments.

Much of Obama's future political success rests squarely on the shoulders of the outcome of the auto bailouts, and now we as a country are subsidizing a fleeting, one-time, boost in sales so the Dems can claim it as a win for the party.