Cash for Clunkers possibly for Motorcycles - Wrist Twisters
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post #1 of 90 Old 07-07-2009, 10:11 AM Thread Starter
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Cash for Clunkers possibly for Motorcycles

Looks like the CARS bill passed while I was out of the country - apparently the junior senator from PA is attempting to add legislation that would let you trade in your qualifying four wheel vehicle for credit toward a motorcycle. Similar rules as the main bill:

Owned and insured for at least a year by the trader
Drivable
Relatively poor gas mileage
Up to $2500 credit toward a motorcycle
New bike to cost between 7k and 20k

For Cars, you can get up to 4.5k for your clunker.

Ignoring the political aspects so this stays out of the forum which shall not be named, would anyone here want to take advantage of this, either for a MC or a new car?

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post #2 of 90 Old 07-07-2009, 10:47 AM
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Quote:
Originally Posted by SuedeGopher View Post
Ignoring the political aspects so this stays out of the forum which shall not be named, would anyone here want to take advantage of this, either for a MC or a new car?
Unfortunately the politics cannot be ignored. All those credits are coming out of the pockets of those that pay taxes.

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post #3 of 90 Old 07-07-2009, 10:50 AM
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My coworker is currently in the process of trading in his clunker for a new car.

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post #4 of 90 Old 07-07-2009, 12:03 PM Thread Starter
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Originally Posted by wisco919 View Post
Unfortunately the politics cannot be ignored. All those credits are coming out of the pockets of those that pay taxes.
I guess I was looking for more of a poll of people who were considering or even knew someone who was. I can see this might be a touch sensitive and probably deserves a discussion in P&P (guessing there is one and probably settled by now). I'm more curious about who has done this and which car for what. I've learned politics can often be pushed aside when actual dollars come into the equation, if AZ's clean air initiative a few years back has taught me anything.

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post #5 of 90 Old 07-07-2009, 12:35 PM
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I would never do that. I'd have to have one hunk of crap for a vehicle for that to even come close to being a fair deal. My guess is they take whatever junk you bring them and either resell it for as much or more than they "gave" you for it, or they just sell it for scrap.

So if you take them a 1989 Nissan hatchback that is rotted out and only running on 2 cylinders, they give you $4,500? Rrriiiiiggghhht. I'm sure they are making that back up by forcing you to finance through their dealership at a higher interest rate, and still making money over their cost on the vehicle by maybe giving you $4,500 off the retail price.

Show me a good example where it is legitimate and a good deal for the buyer and I might buy this crap...but I still say the dealership is winning.

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post #6 of 90 Old 07-07-2009, 12:37 PM
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Quote:
Originally Posted by SuedeGopher View Post
I've learned politics can often be pushed aside when actual dollars come into the equation...
?

That's like saying Conservatives will vote for more taxes if they get more stuff from the government...

Get your butt back in P&P and let's hammer this out proper!

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post #7 of 90 Old 07-07-2009, 12:50 PM Thread Starter
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It's a seperate piece, from what I understand. Your trade-in actually gets destroyed for scrap, presumably the gov't handles the difference between the dealers expenses, scrap value, and the 4500 applied to a vehicle. I would think you'd go to a participating dealer, set a price for the car you want, then say I'm trading in a clunker so that'll be 4500 off that price there.

I'm not going back there! For your amusement though (and you can PM me if you like):

arizona alternative fuel fiasco - Google Search

Everyone knows someone who took advantage of this bad boy and honestly, all sides are guilty.

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post #8 of 90 Old 07-07-2009, 01:00 PM
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Originally Posted by cmurphy84 View Post
I would never do that. I'd have to have one hunk of crap for a vehicle for that to even come close to being a fair deal. My guess is they take whatever junk you bring them and either resell it for as much or more than they "gave" you for it, or they just sell it for scrap.

So if you take them a 1989 Nissan hatchback that is rotted out and only running on 2 cylinders, they give you $4,500? Rrriiiiiggghhht. I'm sure they are making that back up by forcing you to finance through their dealership at a higher interest rate, and still making money over their cost on the vehicle by maybe giving you $4,500 off the retail price.

Show me a good example where it is legitimate and a good deal for the buyer and I might buy this crap...but I still say the dealership is winning.
Dealership gets nothing....

We are doing it here.

We dont get the car.... we must have a Salvage yard signed up to take the cars, they will fill out paperwork to send to Govt. Salvage yard cannot sell car, must be crushed or parted. Title to car is branded.
Car is not considered a trade.... so we get nothing other then a new car sale out of it....

Troy
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post #9 of 90 Old 07-07-2009, 01:02 PM
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Quote:
Originally Posted by 67GTONUT View Post
Dealership gets nothing....

We are doing it here.

We dont get the car.... we must have a Salvage yard signed up to take the cars, they will fill out paperwork to send to Govt. Salvage yard cannot sell car, must be crushed or parted. Title to car is branded.
Car is not considered a trade.... so we get nothing other then a new car sale out of it....


Hey Troy! you could trade in your GTO.....





































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post #10 of 90 Old 07-07-2009, 01:03 PM
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Hey Troy! you could trade in your GTO.....



j/k!!!!!!!!!!!!!!!!!!!!
Come get it


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post #11 of 90 Old 07-07-2009, 01:07 PM Thread Starter
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Hey Troy, are you getting a lot of takers on the deal? What are they scrapping and what are they buying?

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post #12 of 90 Old 07-07-2009, 01:16 PM
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Quote:
Originally Posted by SuedeGopher View Post
Hey Troy, are you getting a lot of takers on the deal? What are they scrapping and what are they buying?
Thats the trouble.... We had 1

New car has to have at least combined 22mpg..... and be at least a 3 mpg increase from old car....

We dont have that many products here at a GMC/Buick/Pontiac dealer that gets combined 22mpg or better. And many of the trades that people are bringing us, get decent mileage....so they cant qualify.

Whole thing is a joke.....

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post #13 of 90 Old 07-07-2009, 01:19 PM
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post #14 of 90 Old 07-07-2009, 01:24 PM
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Quote:
Originally Posted by 67GTONUT View Post
Thats the trouble.... We had 1

New car has to have at least combined 22mpg..... and be at least a 3 mpg increase from old car....

We dont have that many products here at a GMC/Buick/Pontiac dealer that gets combined 22mpg or better. And many of the trades that people are bringing us, get decent mileage....so they cant qualify.

Whole thing is a joke.....
I was just trying to find some info on cars, built in the last 25 years, that would get less than 18mpg. I could imagine peeps bringing in thier mid 80's Z28s or Firebirds would be the only ones to benifit from this. Maybe an Impala SS or similar era Caddy could qualify.

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post #15 of 90 Old 07-07-2009, 01:25 PM
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Quote:
Originally Posted by SuedeGopher View Post
Ignoring the political aspects so this stays out of the forum which shall not be named, would anyone here want to take advantage of this, either for a MC or a new car?
Nope.

I'm working on a more in-depth response.
I'll probably PM you with it when I'm done.

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post #16 of 90 Old 07-07-2009, 01:28 PM
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Quote:
Originally Posted by 67GTONUT View Post
Thats the trouble.... We had 1

New car has to have at least combined 22mpg..... and be at least a 3 mpg increase from old car....

We dont have that many products here at a GMC/Buick/Pontiac dealer that gets combined 22mpg or better. And many of the trades that people are bringing us, get decent mileage....so they cant qualify.

Whole thing is a joke.....
Interesting... I guess I assumed the dealerships were getting something out of it.

So...My 1999 Silverado is rated at 19 MPG highway. Does that mean it qualities? Not that I'd ever trade it in for a micro car...

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post #17 of 90 Old 07-07-2009, 01:28 PM
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I'm trading in a 1991 Ford E250 for some damn thing...

Program only runs til November.
Most dealers aren't setup yet.

I just "had" to buy something this past week so I'll be getting a second "something" here in the next couple months.

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post #18 of 90 Old 07-07-2009, 01:34 PM Thread Starter
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I actually have a qualifying vehicle myself, my 1990 V6 Nissan 4x4 with 392k miles Rated at 15 mpg combined, baby! Easily qualifies for most vehicles. Trouble is, I don't need a new car. If I did, can't say whether or not I'd go for it, to be honest.

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post #19 of 90 Old 07-07-2009, 01:35 PM
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Quote:
Originally Posted by cmurphy84 View Post
Interesting... I guess I assumed the dealerships were getting something out of it.

So...My 1999 Silverado is rated at 19 MPG highway. Does that mean it qualities? Not that I'd ever trade it in for a micro car...
Just have to pick out something with at least 22mpg combined....

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post #20 of 90 Old 07-07-2009, 01:47 PM
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I drive a 1995 Ford Aerostar. It qualifies under the program at 18 mpg. Here's the problem though. I drive a 1995 Ford Aerostar!!!

I don't have the money to buy a new car even after the $4,500 rebate. If I had that much money, I wouldn't be driving an Aerostar.

See the problem here.

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post #21 of 90 Old 07-07-2009, 01:50 PM
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Is this how our government obtains more metal for China?

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post #22 of 90 Old 07-07-2009, 01:52 PM
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Quote:
Originally Posted by Karl View Post
I drive a 1995 Ford Aerostar. It qualifies under the program at 18 mpg. Here's the problem though. I drive a 1995 Ford Aerostar!!!

I don't have the money to buy a new car even after the $4,500 rebate. If I had that much money, I wouldn't be driving an Aerostar.

See the problem here.
I had an Aerostar, it rocked.

Built on a real frame, sure, it had some quirks, but it was a darn good van.

Tranny finally went and I gave it away, bought a E250 Supervan for $500.00 and never looked back -

But every time I see a nice Aerostar, I'm tempted......

Especially one with the fold down rear seats.

Gotta also have the 3:73 rear end and that 3.0 was not a bad engine, when geared properly.

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post #23 of 90 Old 07-07-2009, 01:53 PM
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Quote:
Originally Posted by ratdog View Post
I'm trading in a 1991 Ford E250 for some damn thing...

Program only runs til November.
Most dealers aren't setup yet.

I just "had" to buy something this past week so I'll be getting a second "something" here in the next couple months.
I gotta tell you, I have a 1995 E250 Supervan with cancer, gets 10MPG and it needs to go away -

As soon as I find a job, it's history.

Until then, I'll keep it, as we might end up living in it.......

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post #24 of 90 Old 07-07-2009, 01:56 PM
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Quote:
Originally Posted by SuedeGopher View Post
I actually have a qualifying vehicle myself, my 1990 V6 Nissan 4x4 with 392k miles Rated at 15 mpg combined, baby! Easily qualifies for most vehicles. Trouble is, I don't need a new car. If I did, can't say whether or not I'd go for it, to be honest.
You know...the lack of a car payment can buy A LOT of gas. I paid off the Silverado right after gas spiked last year. I can't imagine paying $200 a month for a vehicle AND putting gas in it at $90 per tank.

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post #25 of 90 Old 07-07-2009, 01:58 PM
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Just have to pick out something with at least 22mpg combined....
I want a Hummer H1.

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post #26 of 90 Old 07-07-2009, 11:30 PM
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Quote:
Originally Posted by cmurphy84 View Post
I would never do that. I'd have to have one hunk of crap for a vehicle for that to even come close to being a fair deal. My guess is they take whatever junk you bring them and either resell it for as much or more than they "gave" you for it, or they just sell it for scrap.

So if you take them a 1989 Nissan hatchback that is rotted out and only running on 2 cylinders, they give you $4,500? Rrriiiiiggghhht. I'm sure they are making that back up by forcing you to finance through their dealership at a higher interest rate, and still making money over their cost on the vehicle by maybe giving you $4,500 off the retail price.

Show me a good example where it is legitimate and a good deal for the buyer and I might buy this crap...but I still say the dealership is winning.
You're forgetting that our federal government does not concern it's self with the bottom line. They do not mind borrowing even when they, oops I mean us, are in the hole for 12 trillion, not counting entitlement programs like social security or medicare (count those and we're closer to being 60 trillion in the hole).

Back to the poll, I won't be trading any of my vehicles in through the rebate program and the program is a taxpayer ripoff like most of what the federal government does.

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post #27 of 90 Old 07-08-2009, 05:33 AM
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Personally, I don't understand why anyone with a conscience would utilize this program. If you can afford to buy a more fuel-efficient vehicle, then go buy one. If you can't, then don't. Don't use my tax dollars to help yourself save some gas money. Your savings are my new burden. Go buy the old-fashioned way--when you can afford it.

If a wasteful government program is not utilized, then that's more money we're not wasting (believe me, every little bit counts with this administration).

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post #28 of 90 Old 07-08-2009, 08:59 AM
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Quote:
Originally Posted by brevity View Post
Personally, I don't understand why anyone with a conscience would utilize this program. If you can afford to buy a more fuel-efficient vehicle, then go buy one. If you can't, then don't. Don't use my tax dollars to help yourself save some gas money. Your savings are my new burden. Go buy the old-fashioned way--when you can afford it.

If a wasteful government program is not utilized, then that's more money we're not wasting (believe me, every little bit counts with this administration).
But my house is burning neighbor, help me out !!!

Are you going to let it burn or put out the fire.

I need 6 bathrooms and a 3 car garage and 4 guest rooms, it's me and the dog and we need a little space, help a brother out. Obama says so.


Yeah, I hear ya, that's why I just pulled the trigger on my 'new to me' vehicle instead of waiting.

But I will say, $2500 off a VTX leftover priced at $9000 already, well that will tempt me ...the Darkside is STRONG w/ that deal !!

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post #29 of 90 Old 07-08-2009, 09:50 AM
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Quote:
Originally Posted by brevity View Post
Personally, I don't understand why anyone with a conscience would utilize this program. If you can afford to buy a more fuel-efficient vehicle, then go buy one. If you can't, then don't. Don't use my tax dollars to help yourself save some gas money. Your savings are my new burden. Go buy the old-fashioned way--when you can afford it.

If a wasteful government program is not utilized, then that's more money we're not wasting (believe me, every little bit counts with this administration).
+1

well said

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post #30 of 90 Old 07-08-2009, 10:04 AM
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Sorry if this has been answered before, to lazy and to much in a hurry to read the whole thing.

Has this billed already passed for all the States or just yours, a couple or a few states?

Does anybody knows the nitty gritty of the bill? crash course anybody? Don't need speculations though

I am in desperate need to get rid of my truck and this could persuade me to get a new vehicle.

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post #31 of 90 Old 07-08-2009, 10:09 AM
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see wisco919's post #13 above for a link
... or just click this one

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post #32 of 90 Old 07-08-2009, 10:12 AM
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I am in desperate need to get rid of my truck and this could persuade me to get a new vehicle.
Then save up some money and go buy one.

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post #33 of 90 Old 07-08-2009, 10:36 AM
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Then save up some money and go buy one.
+1.

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post #34 of 90 Old 07-08-2009, 11:04 AM
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I'm not trying to rub this in anyone's face, just offering up what I'm fortunate enough to practice...


Once we paid off my truck & the wife's car, we continued to make monthly payments - to ourselves.
There are options out there like ING direct that can offer slightly higher interest on savings plans (this is just the option we chose, find one that works for you). I know not everyone is able to put this into practice, but if you pay YOURSELF for a few years, you can be able to upgrade to a newer, slightly used vehicle and pay cash for it, eliminating the need for wasteful INTEREST payments that come with getting an auto loan.

I was taught in a finances class in school that buying a new vehicle is one of the worst financial decisions you could make. The moment you drive it off the lot it depreciates in value. So it makes more sense to let some other person take the plunge, buy a new vehicle and then pick it up when they get tired of it in a couple years and decide to go do it again. Some people feel the entitlement to buy new every couple of years - that's what the media is constantly pushing in our faces - "you DESERVE it"... If you're one of those people, I'm not gonna tell you to change your ways. Instead I say take good care of that new vehicle for the short few years you own it, 'cause when you're done with it I just might buy it. I'm quite happy to buy it from you for a reduced cost & still afford to pay my bills on time.

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post #35 of 90 Old 07-08-2009, 11:27 AM
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Great advice Omaha! The deals on used are better than ever in the economic climate we are in now.

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post #36 of 90 Old 07-08-2009, 12:09 PM
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Brev is right, but I'm worried about "getting my butt to P&P so he can pound it out"

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post #37 of 90 Old 07-08-2009, 12:27 PM
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Brev is right, but I'm worried about "getting my butt to P&P so he can pound it out"
Well, I guess now we all know what you're thinking about, huh?




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post #38 of 90 Old 07-08-2009, 12:34 PM
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I'm currently snowballing myself out of all payments except the house and student loans.

Basic concept is that you arrange your debts lowest to highest balance. Make the minimum payments on all but the lowest. Pay as much per month as you can to get the low balance paid off. Once it is paid, apply that payment to the next lowest. Once that one is paid off, apply the two combined payments to the next lowest, and so on.

Example:

You have three debts.
Debt A - $1,000 - minimum payment of $25 per month
Debt B - $5,000 - minimum payment of $150 per month
Debt C - $10,000 - minimum payment of $200 per month

Pay $100 per month to pay off debt A, Then pay $250 per month to pay off debt B, next pay $450 per month to pay off debt C.

Obviously this theory, loosely adapted from Dave Ramsey, will change if additional debts are acquired.

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post #39 of 90 Old 07-08-2009, 01:09 PM
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yep, that's what I'm talkin' about.

I've taken Dave's "Financial Peace University" course, and while I often think he's got his head in the clouds, the principals are worth trying to incorporate into daily living.

My wife & I currently have a monthly mortgage payment to make (on top of utilities) and that's pretty much IT. We do use our credit card for purchases from time to time but we pay the balance off every month in full. While Dave would criticize me for doing so, I say - it's a planned amount of spending that we allow ourselves to make, and it's not beyond our limits. Yeah, in a perfect world I SHOULD save up for every purchase before pulling the trigger, but we rarely spend ahead - and when we do we have the savings to bail ourselves out and then replenish the savings before making any more purchases that necessitate buying on credit.

Abba Zaba, you my only friend.
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post #40 of 90 Old 07-08-2009, 03:24 PM
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Wow. Know I know why the head honcho just released a "Happy Memo" to all employees in the scrap yard about our new, just created End of Life Vehicle Service demolition program. As in, we must have gotten a contract with a Cash for Clunkers buyer, so now we have to deconstruct cars that we will be getting in large quantity. Scrap yard I am at isn't equipped for gentle demolition of crapped out cars, but since we seem to already have the contract in place that we stupidly bid on, now we have to be ready. Dammit. I mean, yay. Dammit.

Vash the Stampede, at your service.
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