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SVTPerformance's Chain of Restaurants
Road Side Pub
Future of Racing? EV Content
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<blockquote data-quote="13COBRA" data-source="post: 16368422" data-attributes="member: 138337"><p>Instead of face value, look a little deeper. Back in 2008/09 when every car was worth at least $3,500 with the program...all of those cars got scrapped. In order to get the credit, the customers had to purchase a NEW vehicle with at least a 60 month note.</p><p></p><p>So, if you take a bunch of junk ass cars that aren't worth anything...typically owned by people who can't afford a nicer/newer car, and make them worth $3,500-5,000 which allowed those people, who normally wouldn't be able to, to trade their vehicles and get in to a new car.</p><p></p><p>So now, we have a lot of people who would not normally be in the market to buy a car, in the market to buy a car. What does that mean 12 years down the road? That those people, that in 2008/09 were able to take advantage of that program, STILL have their car; thus average age of vehicle on the road 11.8 years.</p><p></p><p></p><p></p><p>Or slash their employees and cut production to make ends meet.</p></blockquote><p></p>
[QUOTE="13COBRA, post: 16368422, member: 138337"] Instead of face value, look a little deeper. Back in 2008/09 when every car was worth at least $3,500 with the program...all of those cars got scrapped. In order to get the credit, the customers had to purchase a NEW vehicle with at least a 60 month note. So, if you take a bunch of junk ass cars that aren't worth anything...typically owned by people who can't afford a nicer/newer car, and make them worth $3,500-5,000 which allowed those people, who normally wouldn't be able to, to trade their vehicles and get in to a new car. So now, we have a lot of people who would not normally be in the market to buy a car, in the market to buy a car. What does that mean 12 years down the road? That those people, that in 2008/09 were able to take advantage of that program, STILL have their car; thus average age of vehicle on the road 11.8 years. Or slash their employees and cut production to make ends meet. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Future of Racing? EV Content
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