Cash for clunkers was one the most awful things to ever happen to the US economy.

It effectively removed 90% of easily repairable, computer-free cars from the roads, creating a financial burden on the lower half of American society that amounts to billions of dollars.

This is why no one can just "buy a beater" to get by for a while any more. This is something we in GenX relied on to get established, older Millennials as well.

GenZ and many Millennials seem to have no idea that the very things they are begging for caused their current problems.

Reply to this note

Please Login to reply.

Discussion

I loved my 95 Tercel… bought in 2007. Now I love my 2011 RAV4

My first 4 cars cost $300, basically three times what the junk yard would pay for them. I fixed them all up myself, put about $1000 into each, rebuilt engines, drivetrains, suspension, brakes, drove them about 100k miles then sold them for $300 when I found something better. This was how I got around through high school & college, a total of the first 15 years of driving. I never understood why anyone would buy a new car. Then Obama happened and the price of all cars skyrocketed.

I have to say even by the mid/late 90s I would often do the math and based in interest rates being higher on a used car, you could dive a new car for about the same cost as a decent used one even though the price was thousands lower on the used car.

It was that point where you can afford to not drive a beater any more and think well, I will get something with low miles and 3-5 years old and the payment is just or at lease almost as high as a brand new car.

That should of told us what was coming but we were all so stupid back then. Cash for clunkers was the death nail but it was already dying.

I said he would make interest on cars tax deductible I’m a campaign speech . Another way to prop it up a little longer

Trump not I 🙇‍♂️

Man, I had a 96 Cherokee and it did not cost anywhere near that much

I bought a used 96 Cherokee Sport very much an upgrade from this one. That would have been about 2002, it had about 75K miles on it.

Absolutely loaded with anything you could get on one at the time. Cherry condition, red with great wheels on it. Price was 7500 dollars. Literally had all maintenance records, garage kept, etc.

The economy is ruined, the money must be fixed.

Yea! I got a 96 sport in about 2003 or 2004. I remember it was a '96 with 96,000 miles. stick shift. Dark green with a pinstripe. Not nearly as good condition as you're describing, but totally solid. I only had to scrap it because of an accident. It was still in great shape.

I think it cost me around $4,500 when I first bought it?

I had so many $500 cars when I was younger.

Pre ‘86 models is where it’s at!

to be fair, vintage trucks like the Cherokee have become super collectable

They are only "collectable" because a lack of free markets

I'm not completely writing off the cash for clunkers effect on dimished supplies. But people with excess cash have collected vintage cars forever. Those markets always have trends. The trend over the last 5 years has been vintage trucks.

so true. My first three vehicles combined cost less than $1k including repairs I did. And that got me through 4-5 years.

My first car was 300 dollars (75 Grand Prix), second was well, expensive (87 TA when came into some money, was young and dumb), third was 450 (77 Mustang II) , fourth was a 2500 dollar truck (79 Chevy with a strait 6 Nova Motor in it).

First "New Car" was a Nissan Pick up, 14K brand new with an extended cab and basically fully loaded. That was a 1994 model. You could get a base model standard cab at the time for about 9K.

That Nissan was 0 down, traded in the beat to shit Chevy I had on it, payment was under 300 and I had no fucking credit worth shit at the time.

My first car was an '83 Dodge Aries cost $25, then $125 to put a clutch in with my dad. next I had an 81 Chevy citation I think $175 at the time. then I got two 1979 mustang but it had a body one had an engine. I smashed it to make one decent car

Flashback! My crew and I called cars like that, Aires, Colts, Chevetes, Monzas, Citations, etc. "Disposable Cars" in the mid - late 80s. We could go down to Redding and find something like that easily for 100-250 buck, drive it for about a year then sell or junk it for almost what we paid for it.

In my tiny brain back then I thought it would always be that way.

100%. Up until this, we were paying $6-10k for pretty decent vehicles for our company. In the span of six months, it was $15k+

That’s why my daily driver is a 1978 Chevy C10. I could replace the entire drive train for less than a year of payments on a new Silverado would cost.

Agree - and then when inflation hit, the price of used cars skyrocketed (as there were so few available).

Now just a parts car is $1,000...

The same has happened in France... As many of these cars used to be sent to developing countries, maybe in some of these it's currently way easier to get a nice car. Time to move maybe !

And meanwhile cops will still not enforce speed limits to prevent tons of pollution a year - only just enough selective enforcement to maximize revenue

Nevermind the cargo ships burning enough fuel in 1 passage to equal a small city’s worth of vehicle emissions in 1 year