Sunday, August 2, 2009
Cash for Clunkers
Ok, what next? I actually thought about turning in our 1998 Ford F150 pick up truck for cash (and another car), but it did not make good financial sense at this time. The truck is in good condition, it runs well, burns a little gas but we just add a little extra oil as needed. The cost to insure it is about $400 dollars per year. It is driven occasionally by every member of the family. Sometime you just need a pick up truck to haul things around. I read about a guy who traded in his old truck this week. He felt this was his chance to get a new vehicle at a discounted price. He had lost his job and used all of his saving to do this. Of course he did not mention the increased cost of the car insurance of the new vehicle or the fact that he had used all of his savings to purchase it. I guess now he will get unemployment to pay his bills and health care subsidized by working people. What next?
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