I had to think long and hard about not buying a new car, after hearing about the “Cash for Clunkers” government program.
In the end I decided not to because:
- My car was worth (a little) more than the government exchange amount.
- My car is paid off.
- I don’t have the cash in hand, to pay for it outright.
- I would have to take out a car loan.
- It kind of seems wasteful for me to throw away a perfectly good car.
For some negative effects for our governmental stimulus programs. and why they may not have been such a great deal for you, go to “GetRichSlowly.org” and read Adam Baker’s writeup.
If the program came out in 2011 or maybe even at the end of 2010, I most assuredly would have jumped on it. If your car was from the 90’s, well this was a great bargain…