Yes, the program was good for some people. My Brother in law traded in a tatal POS Bravda that over 200K, blown head gasket, inside was all torn up, no air, etc. Car was worth $300 max. It was a very good deal for him and a lot of other people.
But, was it a good deal for the taxpayer, in terms of new cars sold and emmision reduction?
Chances are my brother in law would have bought a new car anyway pretty soon. So it helped him personally, but not the auto industry because he would have been in the market without $4C.
Don't get me wrong, I'm happy for those that good deals and many did, I just think the 3 billion could have been spent better.
Cars sales increased 33%, so I figure at most only33% of the people doing $4C would not have bought a car. so using that number, it cost us about $13000 for every new car sold or about a 50% rebate.
If that is a good deal, then lets just have the Government offer a 50% rebate on every item and really get the economy moving
Cash for Clunkers a jolt for car sales, not a fix - Yahoo! Finance