Besides the point of scraping the "old" cars.
If the government gives you a $3,000.00 voucher to buy a new car what’s the New Car Makers responsibility to "sell" you one? Is the Government going to require GM or Chrysler to sell them to anyone with a voucher? Is that their penance for taking bail out money? What if said person has awful credit and low income ? How are they going to pay $400 per month for that subsidized car ? Will there be cheap low line cars manufactured just for this program ? Then think about all of these subsidized auto loans. Will the bank be required to make questionable loans to someone that may be undeserving just because they took bail out money, and the only reason they are even attempting to buy a new car is because they have a voucher ?
Sounds like more government maneuvering to take over both industries. And I’ll bet that there will be people complaining, 2 years from now, on some sensational “news†program about how they signed a new car loan and the lender took advantage of them. And now they can’t make the payments. Never mind they couldn’t afford it from the beginning and only did it because they have a warped sense of entitlement when it comes to government programs.
Sound familiar??