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My main point is not the plan in and of itself but, the government cannot even handle a simple billion dollar plan like this. How in the world are they going to handle a trillion dollar plan like health care?
$15,000 loan. Seven years. THIRTY PERCENT interest. $428.89 per month. Not $500 is it?
You haven't answered my question. How are you determining that those using the CARS program have less than stellar credit? HOW DO YOU KNOW? You don't. You're talking out of your behind. It doesn't matter, anyway. Someone with poor credit, who makes only $20k a year, is not going to find a loan that requires a $6+k per year payment. Ain't gonna happen.
SEVEN YEARS!!!!
Who the Hell gets a car loan for SEVEN YEARS???
Try five years,$21,000 at 8%.
Hmmm, that comes to $425/month...and full coverage insurance....and more taxes...
As to who is trading in clunkers....well most people don't drive clunkers if they don't have to.
This thread is a little old but here goes anyway,
We have a 1994 saturn that drinks alot of oil now but still gets 40 miles to a gallon of gas. So I ask why all the pats on the backs of the makers of these so called BETTER Millage cars today that get maybe 30 miles a gallon? Whoopie. I'll keep my oil guzzling JUNKER thanks.
The average length of a new car loan is 71 months which is absurd, and the average transaction price of a new car sold last year was just over $31,000, which tells me that lots of folks paid way too much for their new cars in 2013.
cash for clunkers was based on the idea that we could improve the economy by destroying useful assets. It was a good example of 'your brain on liberalism.'
cash for clunkers was based on the idea that we could improve the economy by destroying useful assets. It was a good example of 'your brain on liberalism.'
And of course the middle and lower income brackets got hurt the most. Less used cars means higher prices for the ones that are still on the market.
Every time we hear "it's good for the economy" the lower and middle class get kicked in the teeth. Great idea to have the ones who ruined the economy try and fix it.
Obamacare will not only be known as the biggest scam FORCED on the American people but it will bankrupt hospitals, doctors and individuals.
If Obama has his name on it like OBAMA CLUNKERS or OBAMA CARE you can bet it will go bankrupt in no time unless all those bad rich people bail his sorry butt out even more.
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