That car is now 6 to 10 years old with 70k to 150k miles on the odometer. It is the perfect car for the person who doesn’t have a lot of money or access to credit.
Well, thanks to Obama he is implementing a plan that will hurt the blue-collar workers, newly licensed kids, and others, who may not view the ownership of an expensive car as a priority. In addition, someone owning a 10-year old Toyota will not have to pay sky-high automobile insurance premiums since they will probably take out cheaper policies that only cover liability.
http://www.freerepublic.com/focus/f-news/2307038/posts
The Speed channel show “Rides” with Stacey David had a blurb about what a stupid program the “Cash for Clunkers” program was. It detailed every single economic ill effect it created, and there were a bunch of them, from junkyards deprived of income to mechanics and auto parts stores deprived of income, to people who couldn’t buy affordable used cars because of it.
Clunkers had to be destroyed. That reduced by that many the number of used cars that were available for sale. When supply goes down, cost goes up.
I know officially the “clunkers” were destroyed, however I refuse to believe that many did not end up in Mexico or somewhere out of country.