Speakeasy forum: Used Car Shortage. Obama To Blame

good trade in if they have anything at all.

And the car manufacturers keep recycling their very low financing or cash back sales.

I've even thought about trading my 2009 Sonata in.

The only thing I really would buy though would be a basic pickup truck and would probably get rid of the old 2000 compact instead of the Sonata. But trucks aren't really the bargain a lot of good cars are.

Have two foreign cars, though in a round about way, an Accent and a Sonata. Weird thing, the 09 Sonata, half again the size of the 00 Accent, gets the same gas mileage.

A pickup truck is impractical as a daily commuter, but is so handy occasionally. Would hate to drive the "good car" (09 Sonata) to work every day because of the dirt and other things at work but driving any truck would cost so much more in gas even with my short commute.

even with my small motor, the Sonata is supposely rated for 1000 lbs tow, trailer included. That would be enough with a 4x8 light trailer to handle a lot of hauling needs, like taking a mower, tiller, etc somewere for work and even small lumber loads.

don't need a minivan, about the only time now anyone is riding with me is my parents, or giving someone a ride to work or to drop off / pick up their car.

The Sonata is quite comfortable for 4, and gets 30 mpg.

although it use to be quite common.

Sadly, it's also quite dangerous now.

supply of used cars. I don't recall anybody mentioning that as a priority when the whole American Auto Industry was in danger of tanking. Clearly it was a dreadful oversight when so many were shouting about "What about the resale market in 4 years !!" and he should be impeached forthwith for failing to see it coming. It's funny that I don't remember any people shouting that though..

"and the virtual disappearance of new-car leases during the financial crisis." So Obama didn't cause that disappearance, did he? It was the leasing companies cutting back on leasing because of the economic downturn. Some people may have bought cars but a lot more just hung on to whatever they had because they weren't secure enough even to start a new Lease.

"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." So it's the car manufacturers who restructured the market place for their own good who contributed to this change. When did Obama become a CEO of a Car Company? I know that you'll attribute anything to him for any reason, but how do you get him creating a conspiracy of Car Manufacturers to withhold used cars from the Market Place without at least giving a nod to the Financial Crisis which Obama didn't cause but which he attempted to address with Cash for Clunkers at the same time as he bailed out the US Auto Industry from a situation that could have killed it stone dead.

"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. " Were I in the market, I'd be quite happy. Incentives so good that I'll bite the bullet and buy a new car rather than an overpriced old one. Gee, what a hard decision to make. "I'll take the nice shiny new one rather than the one some idiot driving it as a rental car hasn't completely eviscerated by over-revving the engine during the breaking-in period."

So, a complete inability to find Obama guilty of anything in this new assault. Again. Doesn't your back hurt when you tie yourself in knots trying to prove an article says something which it doesn't even hint at. I mean, that's a lot of heavy lifting, inventing stuff like that. I use Robaxin, or Robaxacet for that nagging lower back pain. Try it.

Rob

reality.
He set requirements on the government's short term loan mistakenly called a bailout, like anyone intervening in a failing business would do. But more to the point, the money was all paid back within 3 years, consequently the Government's supposed "stake" in any of the car-makers lapsed. The Government does not still retain a stake in GM. It's over and done. And the US still has 3 functioning car manufacturers with most of those jobs still intact.

And what does Delphi formerly AC Delco have to do with anything? It wasn't part of the deal, raising it as an issue is yet another red-herring, a distraction from the facts at issue.

Now assuming that management can learn, they have the opportunity to earn back more of the car market from the Japanese, the Koreans, the Germans and whoever else by producing more attractive vehicles.

Ford made a massive mistake IMO in not producing the Ka for the American market. It could have been the new Volkswagen beetle and made a massive change to Ford's fortunes, and contributed good things to the economy. It was a great vehicle and had a loyal following in Britain, looked fabulous and was very fuel efficient. Ford UK couldn't understand why the American parent company passed on it either. preferring larger and more expensive vehicles to the nippy, easy to park Ka at about 1/2 the cost of the Smart Car and even less compared to the BMW Mini or the Mercedes A type.

The information about Ford UK came from a Ford executive who was the husband of a colleague of my wife's. He just shook his head when he related the Ford Home Office's reaction to the Ka.

Rob

Is it too hard for you to just check the facts first? This is from Dec 2012, just 2+ months ago. Also note the sales are for a loss to the govt. Who is surprised by this? Seemingly, you are.

http://www.usatoday.com/story/money/business/2012/12/19/gm-stock-treasury-buyback/1779191/

"The U.S. government plans to sell 40% of its General Motors stock within weeks and to sell the rest of its shares within 12 to 15 months, officials announced this morning.

The plan the U.S. announced today to sell its remaining 500 million shares of General Motors virtually guarantees a substantial taxpayer loss on the $49.5 billion bailout.

The Treasury Department today said that it will sell all its stock in GM within 12 to 15 months and sell 40% of its stake within weeks, starting with a $5.5 billion deal for GM to buy back 200 million of its shares as soon as next month at $27.50 per share.

The government would have needed about $53 per share for its 26% stake to break even on the bailout. The deal negotiated with GM for the 200 million shares will cut the U.S. stake to 19% but raise the price needed to break even on the remaining 300 million government shares to nearly $70."

the qualifying condition should have been the official mpg of the car being traded in

Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)

It needs to be worth less4,500

In the OP one person claims to have received $5200 for a 13 year old Honda...something smells there...someone is not telling the truth...

The choices they have are both out of their economic reach. I thought you were supposed to be there for the downtrodden, the low income, those most affected by increased prices. Have you joined the Dark Side?

Also comparing leased vehicle sales to individual owner vehicle sales is like comparing commercial property to residential properties.

Just wait.....

He sees used car prices falling this year, and a healthier supply of late-model cars coming off leases by December.

"There is a going to be day coming soon when there a lot of cars are going to be dumped on the market," said Mr. Schwartz. "That is going to put a strain on new cars."

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???

go for it...

I recall something about not being able to buy parts for older cars...it appears you can't even buy older cars...never mind the parts for them.

BUT wait Till Dec...then there'll be lots of used cars.....AGAIN.

a guy got $5200 for a 13 year old Honda? HE did pretty good...Don't hear him complaining.

two of the worst programs

Yes, Virginia, A $2.98 Hammer REALLY Costs Our Government $100

"worst programs" are a dime a dozen...or should I say $2 million each?

I'll correct myself.

but since Ziks insists, "Yes, it was mentioned in the article. Glad you found it, eventually".

as he did with the GM information and the bailout money still owed, does HE also have to correct himself publicly by your standards?

I'm not the one who does the majority of the 'tormenting' though....making demands for links, but not providing their own either when they make outlandish statements (you called it a 'rampage' I believe) like what Ziks did with regard to GM.