Video: Used Car Prices Up 30% as ‘Clunkers’ Program Disrupts Supply

http://www.cardealerreviews.org/?p=116466 ^ | 8/18/2009 | video

[Moose4]

That’s exactly what these liberals want. Drying up the supply of cheap used cars is a great way to force more and more people onto subsidized mass transit...the enviroweenies love it, and it makes the central planners so much happier to see peoples’ mobility reduced.

}:-)4

[ryan71]

“What we have heya is a failya ta” understand the free market system.

[Churchillspirit]

Wonder what will happen when some of these folks who rushed to exchange their clunker for a new car cannot keep up the payments.

More bailouts?

[hosepipe]

Can the federal gov't do anything right?...
Answer: NO!...

[taildragger]

Car satisfaction numbers are up.

My guess?

leasing adds a lot of "fungability" to the car market.

Now people almost have to purchase vs. lease.

Much different ball game...

[Cletus.D.Yokel]

That isn’t part of the plan. The used car market will be glutted with the repossessions that will sell dirt cheap because of the up-front subsidy.

In 2 years a C4C Corolla that was driven off the lot new at $9000, repossessed and auctioned for (maybe) the loan price will be about $4500.

The white house will call it “a wash”!

[Star Traveler]

Ahhh..., now is the time to sell that used car that’s been sitting around at your place — and you’ve been wondering what to do with.... LOL...

There’s not a better time to do it, than right now!

[Extremely Extreme Extremist]

I’m holding on to my 2001 Chevy Cavalier as insurance.

[org.whodat]

ROFLOL,

Could someone point me to the creditability factor of a used car dealer.

Just Damn!!!

[listenhillary]

Buy the car and sell it for 15K.

[Arrowhead1952]

How many more months before Obama and Congress try to bail out those who bought a new car under the Cash-for Clunkers program and can't make the payments???

I made that prediction several weeks ago when the cash for clunkers started.

[Made In The USA]

Mr. Obama, I’d like you to meet my two friends, Mr. Supply and Mr. Demand. I realize you’ve never met them before because you have never actually run a (real) business.

[sr4402]

Yes, the C4C program is just a blip. The prices are up because the used car dealers are using C4C as an excuse. Once the C4C program is over and more dealerships go under, the used market should be flooded once again - with new cars that won’t sell.

[unixfox]

Who woulda thunk it!

[Sparko]

Didn’t Harkin have the same Cockamamie idea?

Senator Harkin wants income limits on “Cash for Clunkers” program

http://www.radioiowa.com/gestalt/go.cfm?objectid=F074C759-5056-B82A-3778BC12BC8D4DF7

“Harkin says he does not anticipate his amendment will get sufficient votes to pass. He says most Democrats want to simply pass the House version and move on, and he adds, “I don’t think the Republicans will vote for it because they just like the rich people to get their money.” “

[Gator113]

We told you so, Stupid.

[org.whodat]

This is not understanding the market, in the short term, people that would normally buy late model used can now buy new cheaper. This in the short term will drive used car prices down not up. Because buyers are removed from the used car market. The story is hype and nothing more. Show me the state increase in sales tax from used car sells.

[Gator113]

White people’s fault.....

[listenhillary]

They gave the program 2 billion dollars for more C4C buyouts, just as the demand for C2C fell off the cliff.

I don’t know about it being just a blip. Unless the dealers don’t get paid and don’t want to get burned twice.

[org.whodat]

While the Clunkers program helped push sales of new cars in July to the highest level in nearly a year, sales of used cars have taken a beating.

http://www.freerepublic.com/focus/f-news/2315778/posts