According to CNW research, some cash for clunkers customers have already begun expressing buyer’s remorse.
The company said that 17 percent of cash for clunkers participants in a recent survey indicated “some or serious doubts” about their recent car purchase.
Survey participants were nearly unanimous in their reason: They now have between a $275 and $350 new car payment to make each month, where prior, their household had no such payment.
“That amount, they say, could negatively impact the total family budget more than expected prior to buying the new vehicle,” explained Art Spinella, president of CNW Research.
“Typically, in a non-C4C environment, buyers’ remorse hits roughly 6 to 8 percent of new-vehicle buyers within a month, according to CNW Purchase Path research,” he added.
That’s means a C4C purchase has a buyer’s remorse rate nearly three times that of a normal car purchase. If these numbers hold, within six months, nearly everyone who received cash for their clunker will regret their decision.
CNBC anchor shock: “Who is regretting their purchase?” – “I know it sounds strange, these people got a great deals…” – “Can these people turn around and sell [the car]?”
{ 11 comments… read them below or add one }
Obama suckers!!!!!!! BWWWWWWAAAAAAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAA!
Rude awakening: The clunker cash is taxable. LOL. Suckers.
It is not taxable on the Federal level. However, at the state level there are some states that may view it as taxable income. Many states include taxes when you buy the car, so my guess is the taxes were already paid for most people, if any were necessary. But people should consult their state tax code.
Also they have increased insurance costs.
And you think it wasn’t purposeful? Fannie and Freddie and the collapses are purposeful. It’s called Economic Jihad.
It’s not like people did not see this coming. It was written on all the walls. The only people that missed it was the mainstream media. Just like they missed the financial crisis, just like they missed the housing crisis, just like they missed… I could go on and on…
Socialists prey on the greed of the common man who wants to win the lottery. They offer the greedy “free stuff!” The socialist sales pitch for free stuff has to happen fast, before anyone can have time to think about it because it is not really free at all. Once they have the fools ensnared, buyers’ remorse sets in big time and there is no way out.
I don’t feel sorry for the greedy fools who grabbed for Obama’s grub and ended up in debt to Obama’s banksters. As a taxpayer, I especially enjoy seeing the fascist car dealers getting their deal from Obama shoved up their greedy snouts with the inability of the machine to kick out my money to them. I hope their forray into fascism visits bankruptsy upon them all.
You said it.
I wanted to buy a chineese car to complete the circle of obama’a cash for clunkers, but couldnt find that chineese piese of shit.
I took advantage of Cash for Clunkers at the very start of the program. Between great factory incentives and the CARS credit, I got a tremendous deal and paid cash for a new set of wheels. Traded in an old bucket I had for nearly 20 years and got better than $3000 more than she was worth. So now that I’ve gotten a taste of that government money, all I can say is “I like it!” I won’t buy another new car unless the government and car manufacturers pony up some money. No buyer’s remorse for me. In fact, I can’t wait until Cash for Clunkers v2.0.
You are a sucker!