Apparently, used car dealers and car repair places are watching some of their best customers disappear right in front of their eyes as cash for clunkers gobbles up their pride and joy, oldish cars that still work and need to be maintained. Used Cars that can be repaired, reused, and resold.
Will the used car industry get a bailout?
One thing that remains obvious to me is, Consumer credit card debt MUST BE DRIVEN DOWN by offering incentives to those who have debt and are trying to pay their credit card debt down. If frugal people who were getting by on their older cars now have purchased newer cars, haven't they just taken on more debt?
I think the most obvious incentive to help our economy is to waive any future interest rate charges on existing credit card debt, not waive the debt, just waive future interest rate charges, penalties and fees for those who are trying to pay down their credit card debt.
I don't have a suggestion for the used car industry other than sorry you were in the way of the Barack Obama "throw em under the bus" Express. Lets just hope that Michelle didn't look around one day and say, "there's so many yucky cars on the road, do something about it, honey".
