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Author Topic: Repo companies ordering more tow trucks?  (Read 1446 times)

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Offline BadCat

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Repo companies ordering more tow trucks?
« on: July 29, 2009, 10:31:44 AM »
Don't have a link on this, heard it on the radio this morning...

With the new $4500 cash for "klunkers" program that Obumble is using to redistribute our wealth, repo companies have put in orders for more tow trucks.

The argument being that some people (stupid Dimocrats mostly) will be conned into trading their PAID FOR used vehicle in for a new one with the $4500 kickback.  So far, most of the people who have taken advantage of this program have NEVER purchased a new car before.

The thought is, that just like the sub-prime mortgage fiasco, these folks are not going to be able to afford these vehicles, and the repo companies think they need more trucks to retrieve them.

Anything the government touches, they screw up.
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Offline thundley4

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Re: Repo companies ordering more tow trucks?
« Reply #1 on: July 29, 2009, 10:50:44 AM »
I look for the government to ease restrictions on the cash for clunkers program. Not enough people meet the current criteria to help the UAW very much.
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Offline BadCat

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Re: Repo companies ordering more tow trucks?
« Reply #2 on: July 29, 2009, 11:20:44 AM »
Quote from: thundley4 on July 29, 2009, 10:50:44 AM
I look for the government to ease restrictions on the cash for clunkers program. Not enough people meet the current criteria to help the UAW very much.

See the new "deal" from government run Chrysler?

$4500 rebate - $9000 if the kash 4 klunkers program is used.

How is a company like poor Ford supposed to compete with that?

If you knock $4500 off the price of a US made car, you are most likely taking a LOSS on it.
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Offline Thor

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Re: Repo companies ordering more tow trucks?
« Reply #3 on: July 29, 2009, 11:27:49 AM »
I've owned a Ford since 1998. The first one was a salvage vehicle that was repaired and restored. I STILL have it! My "new truck", which I bought in Nov 04 (it's an 05 Model King Ranch) is still running strong, so far with no mechanical defects and 60K+ miles on it. It has had a couple of electronics problems, but they were minor. The payment is killing me now, financially, but I'm trying my damnedest to keep it. I will probably stay with Ford the rest of my life. For the record, I WAS a GM fan until I owned my first Ford.
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Offline thundley4

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Re: Repo companies ordering more tow trucks?
« Reply #4 on: July 29, 2009, 11:35:44 AM »
Quote from: BadCat on July 29, 2009, 11:20:44 AM
See the new "deal" from government run Chrysler?

$4500 rebate - $9000 if the kash 4 klunkers program is used.

How is a company like poor Ford supposed to compete with that?

If you knock $4500 off the price of a US made car, you are most likely taking a LOSS on it.

I think there is a slight growing resentment towards GM and Chrysler over the whole bailout thing.  Iknow several people that have said they will only buy Fords from now on, and they currently own Chevy's.

Where I think Ford is going to be hurt the most is in R&D for the new smaller more efficient cars.  They won't be getting the government cash, and I'd wager that their tax breaks will be less than Chrysler and GM in that area.
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Offline Flame

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Re: Repo companies ordering more tow trucks?
« Reply #5 on: July 29, 2009, 11:59:34 AM »
I'll never buy another GM product...the whole fiasco with our truck just pissed me off too much.  The dealer finally did the right thing, but GM itself was horrible.
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