Who buys used cars? Poorer people, students, people just starting out. This became a HUGE tax on the poor because the SUPPLY of used cars they purchase dried up.
-—Who buys used cars?——
Actually used car buyers seem to be women.
Carvana is apparently a success where a young, tech savy woman can lounge in bed eating bon bons and buy and finance a car on their phone. If they don’t like it it can be returned in 7 days.
The obsolete company Car Fax has started their own similar business I believe called zoom. Car Fax seems to have aged badly
Both come to your door to pick up the old car and deliver the new one...... all accomplished on the phone.
If the clunker reimbursement can’t be done on the phone, forget a bout it
Who buys used cars? Poorer people, students, people just starting out. This became a HUGE tax on the poor because the SUPPLY of used cars they purchase dried up.
Correct. I did not take advantage of the last C4C scam. As I didn't own a clunker.
I own one now. My daughter's car. A 2008 Vibe with 250,000 miles on it. If C4C comes back, I may take advantage of it. I don't need a new car. But why the hell not? Car makers are slashing prices AND offereing 0.00% financing for 72 months.
It's like Free Money.
But as you say...It will harm poor people the most. As it did in 2008.
As the price of new vehicles soared in the past decade, many of us (including me) who were not “poor” or a “student” or “just starting out”, bought used cars simply to avoid the mark-up of new vehicles simply for being new.
In fact, for many it is smarter to buy a vehicle 2-3 years old with low mileage over something new because you’d be getting practically everything a new car could provide for maybe 60-70% of the cost.
None of this negates your main point which was that the “Cash For Clunkers” idea disproportionately harmed those unable to afford new cars.