I am sure most of you have read about the cash for clunkers program. I have noticed that some papers and sites are simply not giving all the facts when it comes to this. I miss the days of unbiased journalism here in the US, but that is just what it is. It depends on if the publication is in the pro or anti Obama camp as to what will be given in the way of information.
I suggest that you look at the official government website if you are wanting information on this program. The information will be accurate and not clouded with either camp's rhetoric. You can find it at www.cars.gov
This program could be a huge help to those people currently driving gas guzzlers or cars that are so old that they need constant repair to keep running. There are several people in the situation where they are paying a car payment in upkeep and gas as it is. It might actually save them money to get put into a new car.
The thing to consider when looking at this is a realistic approach. What is your car actually costing you a month as it is? Include any of the 'repair' bills you have had to pay if it is doing the nickle and dime fall apart thing. Include gas. Include insurance. EVERY expense per month that relates directly to your car.
Now, take into account a car payment and the increased insurance you will have. Add in gas (you will still have to pay it but likely less). If this number is less than the previous number you are going to be better off going for the new car. If your car is approaching the stage where keeping it running is nearly its own car payment you might consider using this option before it gets that bad as well.
Using this program to help you is the trick. If your car gets decent enough efficiencey, runs well enough to not be a constant drain, and is in good repair - you might want to wait until you are in a better situation. If your car is not in that kind of condition, you might just want to take advantage of this program while you can.
Realistic, honest assessments are what you need when making your choice.
