Cash For Clunkers Cost Taxpayers $24,000 Per Vehicle Sold

By Rob Einaudi

Editor-in-Chief

690,000 vehicles were sold under the Cash For Clunkers program, but according to Edmunds, most of those cars would have sold anyway during the course of the year. According to their calculations, the program only really resulted in 125,000 additional vehicle sales for 2009, which means it cost taxpayers $24,000 per car sold. Pretty cool, huh? Read the full article at CNN Money

Permalink:

Posted at 10:16 am in Cash For Clunkers

Comments

DJs-zj360
Oct 30, 2009 at 6:08 am

24 grand! I thought that’s what they spent per toilet seat.

retroman
Oct 29, 2009 at 7:35 pm

Hey, Washington, I am not your ATM!!!! So quit going into debt and expecting me and my family to cover the bill for the next 5 generations cause we can’t!!! I say we cut all this socialist crap and get out of debt.

Chris Borrelli
Oct 29, 2009 at 3:27 pm

Slightly off topic, but from my knowledge the “clunker” vehicles were destroyed right? Well, I had just recently went to Pick-N-Pull and there were quite a bit of cars there that had the “CARS” marking or some other C4C marking. Any ideas?

TheDotCommunist
Oct 29, 2009 at 2:51 pm

Don’t forget Edmunds’ methodology. They determined that we only bought an extra 125,000 cars. They based this on how many luxury brands and other non-C4C-eligible cars sold and simply compared the ratios with everything else. I don’t consider it a very accurate guess by Edmunds. They had no real reason to assume that people would have bought anything without the program.

I didn’t agree w/ C4C for other reasons… not this.

I_luv_dusty
Oct 29, 2009 at 1:45 pm

Typical. This is why the government shouldn’t screw with the free market.

road_monster
Oct 29, 2009 at 1:44 pm

Fail is right. Just a joke, waste of money, and a waste of some perfectly good vehicles.

ihatemybike
Oct 29, 2009 at 11:34 am

C4C FAIL!