Did you know you can save a ton of money by simply taking care of your used cars rather than taking advantage of the government’s “cash for clunkers” program? According to the Automotive Aftermarket Industry Association (AAIA), basic vehicle maintenance “would save consumers $30 billion in gasoline a year vs. spending $3 billion in taxpayer dollars to buy new cars,” according to a recent press release.
Here are some other criticisms the AAIA have about the programL
• Many of the vehicles being taken to dealers are not even close to being “clunkers,” but they are likely getting totally destroyed.
• Looking for used cars will be more difficult as the government is taking thousands of them off the streets.
• As a result of fewer used cars on the roads, companies that deal in aftermarket parts are going to suffer a huge reduction in business. So much for saving jobs!
• Will the car buyers be able to afford going deeper into debt in order to get these new cars? How long will it be before we see a huge surge in car repossessions?
Investing in used cars is a great thing to do right now. Luckily, the popularity of this good-intentioned yet bad program is waning among consumers.