E30s are safe...for now

[kishg]

What they should have done is made it so only cars that COULDN'T pass an emissions test were eligible. Just because it is an old car, doesn't mean it won't pass. If the point was to be "green", then this would have fulfilled it's purpose.

Bingo! I nominate you for Transportation Secretary!

[AndrewBird]

What they should have done is made it so only cars that COULDN'T pass an emissions test were eligible. Just because it is an old car, doesn't mean it won't pass. If the point was to be "green", then this would have fulfilled it's purpose.

[FredK]

3 billion dollars ain't no thang to the US Government.

[kishg]

If it wasnt for our rediculous debt load Id really have little problem with this plan. I know plenty of folks, mostly older people, that are trading in their old crown vics for new cars. My grandparents just did this last week with their Buick Roadmaster. That being said there are plenty of people out there who are definatwly going to get in over their head.

the problem with the plan is that it puts perfectly acceptable cars like e30 in wrecking yards. plus the impact on the environment from this is negligible.

[kishg]

It is a bad thought, but if it fails, Obama is going to get the majority of the heat directed straight at him.

yeah so? that's his job but to assume some conspiracy about propping up that bailout with the CARS program is simple minded imo. there are many many other factors in play and you may not agree with his policies but obama is not simple minded.

[AdironRider]

If it wasnt for our rediculous debt load Id really have little problem with this plan. I know plenty of folks, mostly older people, that are trading in their old crown vics for new cars. My grandparents just did this last week with their Buick Roadmaster. That being said there are plenty of people out there who are definatwly going to get in over their head.

[Alkasquawlik]

your over-reaching.. this is a bad plan without thought.. typical govt regardless of dems or republicans. ray la hood is a republican btw.

It is a bad thought, but if it fails, Obama is going to get the majority of the heat directed straight at him.

[kishg]

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.

your over-reaching.. this is a bad plan without thought.. typical govt regardless of dems or republicans. ray la hood is a republican btw.

[kishg]

You still have to get credit approval before buying the car.

fat lot that means in terms of ability to repay.. repo men are gonna have a field day!

pretty sure e30s will be struck from the eligible list though.

[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.

[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?

[pawi30]

[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.

[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.

[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.