Used Car Shortage. Obama To Blame
by James Denison - 2/23/13 5:12 PM
Before some mental deficient who can't put one and one together to create two says the article doesn't mention Obama, I already know that. Anyone with half a brain or more however can see the cause and now effect in this. On the other hand however, it's a bonanza for those wanting to buy new and get the most for their trade-in.
Oh no, did they actually say "Cash For Clunkers"?! Well, thankfully they didn't mention OBAMA.
Now, should we start looking at the forum during that time and see how what was said then by those who were opposed to OBAMA'S "Cash For Clunkers" predicted???
"The shortage of used cars stems from the deep plunge in new-car sales
between 2008 and 2010, and the virtual disappearance of new-car leases
during the financial crisis. As a result, three-year-old cars are now
hard to find and even older models are holding their value.
Another factor is a change by the three Detroit U.S. auto makers. To
keep factories humming, they once leased tens of thousands of new cars
to rental car fleets and then moved them onto dealer lots as used models
after a few months.
There are fewer of those vehicles because manufacturers cut excess
production capacity in recent years. Cash-for-clunkers rebates also took
many older vehicles off the road.
The scarcity has pushed up used car prices, often to the point that
consumers who finance a purchase with subsidized interest rates can get
brand new vehicles for about the same as a monthly payment required for a
late-model used car. "