Americans Seem Eager to Use 'Cash for Clunkers'
By Paul Bedard, Washington Whispers
The government's new "cash for clunkers" program, which pays up to $4,500 for older cars and trucks traded in for new and more fuel-efficient vehicles, officially kicked off today, and already some car makers are seeing a huge uptick in Internet interest. Ford tells Whispers that it has logged 500,000 hits on its site, Let Ford Recycle Your Ride.
The feds say that the $1 billion program could help in some 200,000 car sales before the money runs out. And if it's the success Detroit is hoping for, look for automakers and dealers to push for the full $4 billion to be allocated to the program.
That the Ford site is being swamped by clunker owners looking for a new car or truck isn't surprising: A new Rasmussen poll finds that Americans prefer Ford to General Motors and Chrysler because Ford didn't take federal bailout money. According to the polling firm, 46 percent say they are more likely to buy a Ford because the company didn't take the money.
Ford's Washington spokeswoman, Christin Tinsworth Baker, says, "Customers appreciate that we are transforming our business without taking emergency taxpayer assistance. But the real difference people are seeing is in the strength of our new products, which are leading the industry in quality, fuel efficiency, safety, and value."
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Reader Comments
Great Idea
A great idea and overwhelming success... only the Obama haters seem to be against it.
Real Deal
C.A.R.S. let me trade in my '91 Ford Explorer and receive more on the trade than I paid for the used Explorer in 2002. In fact we received $500.00 more. We brought home a reliable, fuel efficient 2010 Mazda3 for $10,482.00, down from a $16,645.00 sticker price. We're happy but we will miss the tough, troublefree Explorer. Great program and we are very thankful and aware that our fellow countrymen's hard work/tax dollars helped us in this way. Thanks America.
Just bought a Mazda 3
This is a fantastic idea to get old ineffecient cars off the road. Unlike the lending in the housing market, financing isn't going to balloon after a few years. Consumers can make an informed decision with regards to aquiring the additional debt.
The Cash for Cars program helps the ecconomy in several ways. First, it builds consumer confidence which drives spending. Second, it puts money in the banks because people are taking out loans. Third, it helps the manufacturer, the dealer and their employees remain in business. Hopefully, as an added bonus, if people are saving money on fuel and maybe they will be more willing to spend on other luxury items or take trips.
I think this was a brilliant idea and I hope they dedicate more money to the program. Rarely does the government actually come up with a plan that works to help the average person but this, in my mind, is a success.
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