Cash For Clunker!

Cash for Clunkers good or bad?

I'll admit owning a new vehicle is exciting, it gives you that warm fuzzy feeling and even turns the neighbors heads when you come rolling into the driveway.

But will it be worth it?

To some owning a new car is a sound decision, to others it can turn into a nightmare. The response to this program has been swift to say the least, but who will the winners really be?

So far the winners are the car manufactures & dealers for moving their inventory, the scrap iron industry for crushing your trade in and the banks for making money in finance charges!

Will you win?

My concerns are for the people that participated, will this new car become a blessing or a burden. Due to the unsettled economic times the last thing we need is a "mortgage mess" scenario inside the auto industry. If your future employment is secure and you didn't over buy you may be a winner too.

All these so called deals don't always have the end consumers interests at heart...I'm all for stimulating the economy but using credit to acquire more debt isn't always the answer and in more cases its the problems!

For everyone that received a new car, congratulations!


Later,
Scott
www.fdipays.com