Carolina Horsepower - Cars traded in on the cfc program.

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Cars traded in on the cfc program.

The reported cars of "cash for clunkers"

http://www.cars.gov/files/official-i...n-vehicles.pdf

24 - Lightnings
Hundreds of mustangs.

Anybody been paying attention to the value of fox bodies? Any increase?

Looking through that list, and some of those vehicles must have been in BAAAD shape. Either that, or some people got taken by the dealership. A 2007 Explorer is only worth 4500? A 1997 Astim Martin DB7 Volante is only worth 4500? '03 Acura 3.5RL? Holy shit! That's messed up!

In response to your question, Mike; all used car prices have gone up. Was talking to a wholesaler the other day, and he told me that just about everything at the auction is going for about 2 grand more than it did 2 months ago.

Quote:

Originally Posted by clubracergt1 (Post 49179)

In response to your question, Mike; all used car prices have gone up. Was talking to a wholesaler the other day, and he told me that just about everything at the auction is going for about 2 grand more than it did 2 months ago.

I figured that. That's some more good news for auto manufacturers, but not so much for the used car salesmen.

I just read some more of that. 2 2006 Roush Stage 3 trucks? 2 2008 Foose F150s? WTF?

Sad. Just sad.

Quote:

Unusual clunkers also fueled recent program
Detroit Free Press 09/23/2009
Author: Justin Hyde
(c) Copyright 2009, Detroit Free Press. All Rights Reserved.

At its creation, a 1997 Bentley Continental R was one of the most powerful and exclusive cars in the world, with every hand-built copy from the English countryside valued at $300,000 and beyond.

A few weeks back, the owner of one such Continental R decided it wasn’t worth more than $4,500, had its engine destroyed and shipped it to a junkyard with the rest of America’s clunkers.

It’s one of several rare or surprisingly new vehicles destroyed under the Obama administration’s cash for clunkers program designed to sweep old gas guzzlers off U.S. roads. According to new government data, the rebates of $3,500 or $4,500 were enough to doom the Continental and a ’97 Aston Martin DB7 Volante that once had a sticker price of $135,000 to the crusher.

And 37 people decided to clunk models that were less than a year old.

Beyond car lovers’ grief over why anyone would destroy sweet rides like a 1999 Mercedes C43 AMG, the value of the junked jalopies plays a major role in deciding whether the $3 billion program helped the economy. Two economists at the University of Delaware said Tuesday that assuming the average clunker was worth just $1,000, the costs outweighed all benefits by $1.4 billion.

While the data provided by the federal government doesn’t give any indication of the clunkers’ mileage or condition when they were turned in, the vehicles had to be in running condition and insured for at least the past year.

Some enthusiasts would have paid many thousands of dollars for the rare 1987 Buick GNX destroyed under the program; only 547 were built. The nation’s supply of used Chevrolet Corvettes was thinned by 131, including 34 convertibles, and the program also liberated 22 Americans from the burden of owning a Peugeot.

The 2008 model year vehicles deemed clunkers ranged from a Scion xD to 10 Mercury Grand Marquis sedans to two copies of special edition F-150 pickups, sporting 450-hp V8s and Chip Foose-designed paint jobs.

The most popular clunker was the Ford Explorer, with 69,887 copies turned in, accounting for roughly 10% of the trade-ins under the program. Under federal law, only vehicles built after 1984 were eligible for the program, and the trade-in rules favored trucks over cars to spur the removal of less efficient models.

Cost analysis

Backers of the program have credited it with snapping the U.S. auto industry out of its worst slump in decades and bringing factory workers back on the job as automakers ramp production and spurring sales of fuel-efficient models.

President Obama’s Council of Economic Advisors estimated last month that the program saved or created 21,000 jobs and boosted the national economy in the third quarter.

But several economists have questioned those claims, contending that the clunkers had a value to society that has to be added into the program’s costs. Burton Abrams and George R. Parsons, professors at the University of Delaware, said in a study published Tuesday that the clunker program likely cost the country $2,600 per vehicle while producing benefits worth only $596 per trade – leaving a gap of about $2,000 on every clunker.

Abrams and Parsons said all of the program’s benefits derived from burning less fuel, and any increase in auto production or employment were a transfer of wealth rather than real economic growth.

Clunkers “gives participants a substantial gift,” they said. “Meanwhile the burden of the program is dispersed over a large group of taxpayers. Concentrated benefits create vocal advocates while diffused costs produce silent apathetic opponents.”

Additional Facts

Among the list of unusual clunkers under the federal cash-for-clunkers program:

1997 Aston Martin DB7 Volante:

1988 Aurora Cars Ltd. (Shelby cobra replica)

1992 BMW 850i

1987 Buick GNX 1987

1987 Excalibur Autos Phaeton

1990 Laforza

1985 Maserati Quattroporte

1999 Mercedes C43 AMG

1992 GMC Typhoon

1997 Rolls-Royce Continental R

2006 Roush Stage 3 F-150

I was going to say, one of the first cars on the list is a 1987 Buick Grand national GNX. Must have been really bad off, and has to be one of the few GM products I would own..

there just cars and trucks right mike

There is also a 20th Anniv. Trans Am on the list. There were only 1500 made.

1997 Aston Martin DB7 Volante? :hysterical:
http://www.auto123.com/97photo/aston...olante2dr-.jpg
Those things were like 140K brand new! Couldn't he have just parted out floormats, spare tire, jack, car manual, radio and have been well past 4500$...and still keep the car (as lawn furniture or what have you)?

Now that is a fuggin failure right there.
http://i145.photobucket.com/albums/r237/knapplc/WWE.gif

Quote:

Originally Posted by LXtasy (Post 49188)

there just cars and trucks right mike

exactly. :bigthumb:

I'm not complaining!

I might have to get an updated LKQ pricelist. The price of used parts most likely went through the roof. Especially since the drivetrain, the most profitable part of the vehicle, was destroyed leaving the rest of the vehicle to offset the lost revenue.

I say if a dealer got an Aston Martin in for CFC, they ought not to be in business anymore if they gave that car to the government for $4500, for which they may have to wait a year for to get reimbursed. A smart dealer would have given $4500+ for the trade and left the government out of it. Then, turn around and sell it for $10k+ or better.

What college did some of these dealers go to for the new math they are practicing? Oh yeah, that's right, most colleges are liberal havens where they teach the common sense right out of you.

Who the fuck traded in a gnx?

Quote:

Originally Posted by Illusions (Post 49214)

you know how LKQ puts the new arrivals right behind the doors?

there is now a "corral" of them in a big circle with C4C on the doors.

crazy, some decent vehicles, 3 jeeps, but nothing exciting.

That doesn't mean they only were given the $3500 or $4500 for their vehicles. That's the incentive given to the dealers to be used towards the purchase of a new vehicle, the owners most likely were still given the trade in value for the cars.

not really. several nice s series blazers have been scrapped even though many book for over 5500 trade in. hell many syclone and typhoons sane way. they book for 7k plus but many dealerships think they are old 1st gens

Was talking to the guys at Blue and Gold, they have about 40 Grand Cherokees and about 30 or so Explorers. (I am already working on the 8.8s, Hals)

got a 7.5 i will throw towards it shaun

Quote:

Originally Posted by 1998ta__1991rs (Post 49262)

Who the fuck traded in a gnx?

I would give them 4500.00 for it even after they locked up the motor, because I can fix a locked up motor, and that car is steady going up in value..:bigthumb:

Quote:

Originally Posted by Darryl Buckner (Post 49318)

I would give them 4500.00 for it even after they locked up the motor, because I can fix a locked up motor, and that car is steady going up in value..:bigthumb:

That pisses me off beyond belief...