Cash For Clunkers Program Forces Used Car Prices To Highest Levels In 7 Years

As much as I'd like to BIOO (Blame It On Obama), the biggest contributor to a lower used car inventory is a poor and utterly hopeless economy, not the momentary Cash for Clunkers program.

Am I the only one who views this as good news? High used car prices means an increase in new car sales!

It's absolutely evident that Agent009 has an agenda, as you can also see from previous posts. The reality is that more and more people are holding on to their vehicles for a much longer duration, thus reducing the amount of vehicles going into pre-owned sales. In addition, many of the luxury cars are going for a higher price at the auctions now, since more buyers are emerging from foreign markets, who are paying a premium (i.e. China, Middle East, etc). Agent 009- Check you facts, before splurting out these ignorant assumptions!

Anyone who took even the most basic economics course understands that when there is less supply of a product or commodity that the price goes up. Whether or not there are other factors doesn't negate basic economics. Whether or not a person has an agenda doesn't have any bearing on the legitimacy of his/her arguements.

factfinder, you try to sound intelligent but your substantial lack of common sense is your biggest downfall. America is correct, it isn't even a hard concept to grasp yet you failed brilliantly.