The thing is, if these vehicles were worth more than $4500, the dealers should've offered more in trade than the C4C program paid. So you blame the government because the dealers low-balled the trade-ins? If the dealer took in a car he could sell for $7500 or more, why would he NOT offer $5000 in trade and keep it out of the C4C program? Dealers are in business to make money, too, y'know.
Not sure where all these repos are going to come from; there was a story in this morning's newspaper about how slow dealer sales are since C4C ended. One dealer says the big problem is, people who would've got financed a year ago got turned down. If the banks are turning these people down at the rates this dealer reported [450 "ups" so far in September, 10 new cars sold], the banks obviously aren't financing the marginal buyers. It just ain't happening.
But you go on and believe what you wanna believe. The banks don't have ACORN forcing them to make marginal auto loans. And the dealers didn't have the government forcing them to keep from offering decent trade-in prices for cars that would sell for far more than the C4C program paid.
In fact, several local dealers refused to participate in C4C. Dealer participation wasn't compulsory.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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