The total is just under the revised $3-billion budget for the four-week program.
The new survey by CNW Purchase Path, of Bandon, Oregon, finds that of nearly 1,000 Cash for Clunkers participants, 17 percent say they have some or serious doubts that they should have made the new-vehicle acquisition.
"Primary reason: They are now facing a $275-$350-per-month car payment that didn't exist prior to acquiring the car or truck," said the report. "That amount, they say, could negatively impact the total family budget more than expected prior to buying the new vehicle."
In contrast, buyers' remorse hits about 6-8 percent of new-vehicle buyers within a month, said CNW Purchase Path.
Inside Line says: You might not feel so good after you remove that Cash for Clunkers party hat. — Anita Lienert, Correspondent
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1920willys says:
01:55 PM, 02/17/2010
Well, well...as a retired banker I would like to say that it did not take a Phd in accounting or economics to see the post-clunker dissappointment coming. Anyone with a grain of common and/or economic gumption knows that a person who is driving a "paid for" gas guzzler is going to be better off to keep it going until it kicks the bucket, then trade for a more fuel efficient vehicle. Wonder how many of the glorious fuel efficient cars which were bought under the cash for klunkers program are sitting on, or will be sitting on the bank repo lot? How many folks good credit rating will be ruined by the purchase of a not needed car because of a "flash in the pan" deal. Come on folks, lets get serious and quit trying to repair decades old problems with quick fix solutions. Let's remove our heads from our rectums and deal with our economic woes in a realistic manner. Look at the source of the problem, and that does not mean at a particular political party. What have we done to our greatness as a world leader in manufacturing, production of goods, services and food? The time to deal with our prior mistakes is now. We will never do it any younger!!