The 699,000 used cars destroyed as part of the Obamassiah's Kash-For-Klunkers program has nothing at all to do with the shortage and outrageously high prices of used cars today.
Just asking the question is racist.
Move along.
Democrat policies ALWAYS harm the working poor the most, don’t they....
At what point do the sheeple start to believe this, in spite of the media propaganda?
Another reason is that a lot of people are repairing, rather than replacing with new. If they don’t trade in by not buying, there will be less used cars.
Yep Cash for clunkers is the reason.I honestly think he did it on purpose to force lower middle class into public transportation faster.If you do find a car for sale they are about 3X what they were 2 years ago used.We have 3 vehicles right now and just about every week someone is knocking on the door and asking if the VW diesel or the Jeep 4WD truck is for sale.Neither are and don’t have any signs on them.Also the amount people have offered us for them both are more than we paid for either of them years ago.
The earthquake and tsunami didn’t help either, creating a shortage of compact Japanese cars and repair parts for existing cars.
Traded a 2003 4runner a few months back for a 2007 4runner. Got more than I would have accepted for my trade-in and paid less than I would have paid for the “new” one. The next day they had my trade-in on the web priced at 42% more than they gave me.
Multiple factors are at play. First, C4C reduced supply of vehicles. Second, the Japanese auto and auto parts industry are operating at a fraction of capacity. There’s a shortage of new Japanese cars, and the supply pressure in the new car market causes some demand to move to the used car market. Third, since the recession took hold in 2008, a large segment of erstwhile new car buyers has been forced into the used car market due to household budget and credit constraints. Individuals can’t spend with abandon like governments can, but when they crowd the low-end of the market, prices rise.
Lower Supply + Larger Demand —> Higher Prices
Obama and Helicopter Ben can try to evade the law of supply and demand, but they might as well try to repeal the laws of thermodynamics.
NB: Who got hurt by C4C? The working poor who need cheap automotive transportation and the frugal middle class. Until the Japanese tsunami, the well-off enjoyed fairly competitive prices in the new car market and ample credit at extraordinarily low interest rates. Of course, the private-jet progressive ruling elites think the little people shouldn’t be driving CO2-belching cars anyway.
Hubby’s car finally gave up the ghost with 225,000 on it earlier this month. We paid almost the same amount for the car we just bought as we did for my car bought in August of 2009. Same model, except Hubby’s is a 2011. Mine is the 2009 Limited version and a V6, fully loaded. Hubby’s is the next style type down and a 4 cylinder. His had over 20K miles on it at purchase, mine had 10K miles on it at purchase. Paid about the same 20 months apart. Couldn’t even find a Limited V6 for sale. Is there a shortage, and have prices gone up? YES.
Joan Kamisch is trading her 2000 Chevy Lumina for a shiny 2007 Dodge Caliber.
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What? Why in the world would anyone want to trade DOWN?
What a dummy.
The gal who traded in her 2000 Chevy Lumina for a 2007 Dodge Caliber to get away from a lot of repair bills, I believe, has not succeeded. That crap car has a terrible track record. Won’t be long before it starts needing repairs.
I noticed the dumb a** fails to mention the destruction of the used cars that the “cash for clunkers” program forced on America.
Our neighbors just $5,000 for their subaru that was 9 years old and had 190,000 miles on it. This was from a dealer and was NOT a trade in.
Fascism.
We’ve gone from four cars to one just these last few months, because of Cash for Clunkers. Nothing’s out there, so said our mechanics who have always been able to find us a car almost on-the-spot. So now our sons ride bikes over six miles one way to work and back (our other son moved to the city by his job), and I ride a bike to do shopping, get to church, etc. I’m sure it gives our neighbors great comic relief, though, to see a 60-year-old woman peddling a bike that even the birds don’t get out of the way for. S - L - O - W ... :) But the interesting thing is that I’ve seen two others just like myself (maybe even slower!) and in the same age bracket doing just the same. Obama, 2012? No, I don’t think so.
So they expect us to BELIEVE a used car salesman???