Obama hurting "his supporters" as predicted

[JustRalph]

http://www.msnbc.msn.com/id/43298325/ns/business-autos/

More evidence that he hurts those who support him, the most.

I said it before he was elected and it's coming to fruition more and more every day.

This was predicted by many when cash for clunkers was first discussed, and here we are. Tie this in with unemployment etc and especially black male unemployment and this guy is the greatest enemy of the poor in the history of government.

[Bettowin]

You mean he isn't buying people cars and giving people money out of his "stash" as one of his supporters said during his campaign?

[Let's Roll]

Elections have consequences.His supporters deserve this president and all the damage he causes.

[HUSKER55]

He is starting to make MB and Sarah look good.:D

[Tom]

He's starting to make Kim Dung Il look good!

[WPL]

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[riskman]

How are the banks financing more than the Kelly Blue Book value of the vehicles? Maybe they are not, and are requiring additional down payment to meet the Blue Book price for financing.

Reminds me of the housing bubble.Banks granting mortgages for inflated property values.

[chickenhead]

How are the banks financing more than the Kelly Blue Book value of the vehicles? Maybe they are not, and are requiring additional down payment to meet the Blue Book price for financing.

Reminds me of the housing bubble.Banks granting mortgages for inflated property values.

Maybe this in part a reflection of people regaining their senses. Used cars may cost more than they used to, but they still cost a hell of a lot less than new.

The "spread" between new and used cars has always in dollar terms trumped the actual difference in utility. If a new Jeep costs $28K, that used Jeep with 90K miles probably *is* legitimately worth something like $13K, rather than $4K. Maybe the Blue Book is wrong because people are buying for utility, and what makes financial sense, rather than being driven so heavily by other concerns.

I guess what I'm saying is, maybe they've just been underpriced for so long due to a variety of circumstances that it took a depression to bring them back into line. That has always been the rationale for people that buy used (that don't have to), that used cars were ridiculously underpriced relative to new. Maybe they were right.

Restricted credit for people that don't warrant more (a good thing), a more sensible relationship to expenditures (a good thing), a better understanding of utility (a good thing)...these could all be possible causes of a rise in used car values, and certainly are the reasons, for some. An economic depression should be expected to temper peoples spending, at least for awhile. It certainly has tempered spending on housing, and automobiles are the #2 big ticket purchase in most everyones life, #1 for non-homeowners. It really should follow the same trendlines as housing, no surprise.

[lamboguy]

i bought a motor scooter a month ago. its great. i use it as long as the weather is good. combine that with walking and running i hardly ever use my 1997 buick lesabre that has 71,000 miles on it.

a buick lesabre is a far cry from a lamboghini that i used to drive back in the late 1970's. thats how i came up with my board name here LAMBOGUY

[JustRalph]

i bought a motor scooter a month ago. its great. i use it as long as the weather is good. combine that with walking and running i hardly ever use my 1997 buick lesabre that has 71,000 miles on it.

a buick lesabre is a far cry from a lamboghini that i used to drive back in the late 1970's. thats how i came up with my board name here LAMBOGUY

and here I thought you were a Packers fan............