New “Cash for Clunkers” Program

Many of us will recall the 2009 “Cash for Clunkers” program that was executed in in the US in 2009. Kathleen Pender of the sfgate.com described the program as “often hailed as a success because it jump-started new-vehicle sales, but a new study says it actually cost car dealers $3 billion in lost revenue because its fuel-efficiency requirement caused people to buy cheaper cars than they would have otherwise. Instead of buying expensive hybrids such as the Toyota Prius, most people fulfilled the fuel requirement by purchasing economy cars. The Toyota Corolla was the top-selling vehicle under the program. The goal of the program was to stimulate the auto sector by accelerating car sales from the future, when the economy presumably would be stronger, into mid-2009, when auto sales had veered off a cliff. A secondary goal was to increase fuel economy. Everyone knew the program would borrow from sales that would have occurred in the future. The question is, by how much?.” The full story of Ms. Pender’s findings can be seen at this link: http://www.sfgate.com/business/networth/article/True-costs-of-Cash-for-Clunkers-revealed-5687126.php

Essentially, the US version of the program is viewed as mildly successful—depending on who you ask. Since this cash for cars program was designed and implemented by the Obama Administration, many of the reviews and feedback relating to the initiative may reflect individual political bias. Those in the scrap car removal business (like us) may have differing opinions for personal economic reasons, such as that since we buy junk cars, many of those vehicles would otherwise have been funneled those of industry for recycling.

Moving forward to the present, we are witnessing the country of Peru’s initiative that was discussed in a February 23, 2015 article titled ‘Peru’s capital to scrap 3,000 vehicles in transit-fleet upgrade’ by Global Post. Their analysis of the program is “The Metro Lima Municipality aims to get roughly 3,000 aging transit vehicles off the roads of the Peruvian capital over the next 2 years through a version of the cash-for-clunkers program.” According to the report it “pays the vehicle owner 7,000 soles ($2,300) to help with the down payment for a new vehicle and the cost of converting the unit to run on natural gas.” We look forward to seeing the results and outcomes associated with this project in Peru. The full article is available at this link: http://www.globalpost.com/dispatch/news/agencia-efe/150223/perus-capital-scrap-3000-vehicles-transit-fleet-upgrade

Cash 4 Cars Akron is Summit County’s home for scrap car removal and we buy junk cars throughout the greater Akron area paying cash for cars. Do you have a need for scrap car removal services in the Portage Lakes, East Akron, North Akron or Wadsworth? Are you seeking a “cash for cars” buyer in the areas of Chapel Hill, Barberton, Springfield Township or the Merriman Valley? The requirements for scrapping an old car, junk vehicle or damaged car in Ohio are that the seller has proper ID and possession of the title for the vehicle. Those is Bath, Canal Fulton, Silver Lake, Copley or Lakemore that are tired of paying costly repair and maintenance bills will often call us to process their scrap car removal. Many times a vehicle owner may be facing a difficult discussion, such as whether to proceed with repairs or not. Perhaps your car, truck or van is currently at a Firestone Service Center, Conrad’s location, transmission shop or a Goodyear or Midas location in an area such as Clinton, Cuyahoga Falls, Fairlawn and Firestone Park and you have decided “enough is enough”? We can be reached for a junk car quote 7 days a week to residents of Norton, Monroe Falls, Peninsula and Tallmadge. Currently the cash for cars prices are down a bit, but we buy junk cars at a fair price, which is dictated by a much larger global economic picture. We proudly service the cities of New Franklin, Kenmore, Green, Hudson, the Rolling Acres area and Coventry Township in efforts to promote environmentally friendly automobile scrap and recycling.