Opportunity Costs With Cash For Clunkers
As of November 2009 Cash for Clunkers approved just under 700,000 vouchers to pay out to participants. This amount accumulates to a staggering $2.8 billion being paid out since the beginning of this program.
But what does this number mean to the consumer? This article briefly analyzes the individual person behind one of those 700,000 vouchers, what decisions did the person have to consider in order to partake in this program, and was it a success overall? Read more
Cash For Clunkers and Business Vehicles
It’s been a long time since someone in my family traded in one of their used cars. Usually my dad just keeps every single car he’s acquired and parks them all along the driveway and down the street. I actually joked with him recently that if I bought him some bunting he’d have his own car lot. This is becoming a serious problem, but it could be worse…at least he doesn’t drive any of these noisy polluters so he doesn’t have EPA concerns. He should just sell them for $1,000 each and then people can trade them in for $4,000 towards a new car. I’m a genius. Well actually that was my husband’s idea so I can’t get in trouble for it. I’m a banker and a Rotarian so I have to tell the truth and make sure it’s fair to all those concerned.
So how does Cash for Clunker’s help business owners? Well for one, how about trading in those old work vehicles for some more fuel efficient ones? Time is limited. Congress just injected another $2billion into the program, but that is expected to last only until Labor Day. There is another program that the Obama Administration came up for business owners. This is the one where the SBA guarantee fees are eliminated for commercial real estate purchases. But this is also for a limited time only, or until funds are depleted. The point is there are deals out there and the timing is right. I can only drag a horse to water. Read more
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