Word: carful
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...benefited from the program? From the manufacturers' perspective, everybody except for the luxury carmakers. Hyundai, Kia, Toyota, Honda, Nissan, as well as Ford and GM's small-car lineups all experienced sizable sales increases. The perfect vehicle for the program was the sub-$20K midsize compact car. You will have a tough time finding any inventory that fits that description in most dealer lots today...
Some economists worry that the clunker program borrowed sales from future months, so we'll soon be hit with an ugly payback. I think that the payback-factor predictions for this program have been greatly exaggerated. I would argue that hundreds of thousands of potential new car buyers actually postponed buying a car within the last year due to economic uncertainty, and some of them ended up buying within the last few weeks due to the CFC program. That is, it motivated people to buy who had not been planning to do so, which means there shouldn...
...customers cashing in on the program seemed to have no trouble finding financing. What happened? For one thing, the CFC incentive was used as all or part of the consumers' down payment, automatically increasing loan-approval rates - the bigger the down payment, the higher the approval rates for car loans, everything else being equal. The $4,500 incentive sometimes was doubled by manufacturer incentives. Even if you have less-than-perfect credit, if you put $9,000 down on a $25,000 vehicle, you have a good chance of getting approved. We also saw the captive finance companies becoming more...
...next couple of weeks. If the auto-sales rate drops below expectations, there is always a chance Congress may come up with a similar or totally new stimulus idea, but that won't likely happen unless we experience another period of sustained sub-10 million level [in annual car sales], which I hope never happens again...
...young life lost, after Mary Jo Kopechne died in the accident he walked away from. He was a close personal acquaintance of grief, and so was present during its visits to other people. Biden recalled Kennedy's ministry after his first wife and daughter died in a car wreck and his sons were critically injured. "He was on the phone with me literally every day in the hospital," Biden said. "I'd turn around and there would be some specialist from Massachusetts, a doc I never even asked for, literally sitting in the room with me." Kennedy spent...