This may be old news but we’re not too sure if most Americans actually know how much money the Obama Cash for Clunkers programs cost taxpayers. The answer was a staggering $24K per car. When the program commenced we weren’t fans of the government handout which was supposed to bail out the Automotive industry after the financial crisis in 2008. The concept was simple, bring in your junk car, regardless of its condition and get up to $4500 in rebates towards the purchase of a new fuel efficient automobile. Disposition, procedure, dealer compensation and other fees and expenses drove the price up to $24K.
A full breakdown of the program can be viewed here http://money.cnn.com/2009/10/28/autos/clunkers_analysis/
Looking back at the program, each scrap car cost $24K to dispose of. Think about it, $24K to buy scrap metal, a far cry from the $75 you’re getting for your car now as the price of metal averages at around 4 cents per pound. No wonder why this country is in such bad shape and owes $18 trillion in debt. There might be some truth to Donald Trumps “The US Government just keeps making bad deals!”
As always, if you have a junk car you need to get rid of, we may be able to help. Just call us toll free 888-589-1747 or visit us online at www.rcocashforcars.com. Service is offered in all 50 States.
