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post #1 of 27 (permalink) Old 01-15-2011, 04:37 PM Thread Starter
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Clunker Math

Clunker Math

Think of it this way: A clunker that travels 12,000 miles a year at
15 mpg uses 800 gallons of gas a year. A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year. So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.
The government claims 700,000 vehicles were sold, so that's 224 million gallons saved per year.
That equates to a bit over 5 million barrels of oil.
5 million barrels is about 5 hours worth of US consumption.
More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars.
So, the government paid 3 billion of our tax dollars to save $350 million.
We spent $8.57 for every dollar we saved, but
it did remove about 90% of the obama for pres. bumper stickers.
I'm pretty sure they will do a better job with our health care, though.

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post #2 of 27 (permalink) Old 01-15-2011, 05:10 PM
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that's all per year though. ;)

$350 million saved/per... over time it adds up. In ten years, that savings would be $3.5 billion dollars minus any interest you could gain on that.
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post #3 of 27 (permalink) Old 01-15-2011, 05:57 PM
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cash for clunkers ended a while back though, so no more clunkers are off the road.. it stays the same. so even though those few are gone, there are still thousands more for every one that was scrapped. its not gonna help. it never did, and it was just a stupid idea..im not saying anything about obama, knowing there are alot of people on here that like him, but yeah... cash for clunkers = fail...


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post #4 of 27 (permalink) Old 01-15-2011, 06:25 PM
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It was intended to stimulate the economy while improving fuel economy of the US fleet of autos. Since it did both it was a success.

And if the investment pays itself off in ten years, that's what would be called wildly successful. Any private enterprise would find those terms favourable.
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post #5 of 27 (permalink) Old 01-15-2011, 07:34 PM
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No, a private enterprise would not call that successful. 90% of companies will not spend any money on new initiatives unless they pay for themselves in 3 years and save at VERY least 10% over baseline after 3 years.

Yeah, it may pay for its self in 10 years, assuming the removed clunkers would have still been on the road in 10 years. Something we may never know.

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post #6 of 27 (permalink) Old 01-15-2011, 09:16 PM
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Quote:
Originally Posted by jdmwannabee View Post
cash for clunkers ended a while back though, so no more clunkers are off the road.. it stays the same. so even though those few are gone, there are still thousands more for every one that was scrapped. its not gonna help. it never did, and it was just a stupid idea..im not saying anything about obama, knowing there are alot of people on here that like him, but yeah... cash for clunkers = fail...
wrong. in the OP's comparison, he was talking about the consumption of fuel/year. That consumption of fuel stays consistent each year which translates to savings of dollars every year due to BETTER fuel efficient cars instead of "gas guzzlers." Doesn't matter that the program only happened one year.
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post #7 of 27 (permalink) Old 01-15-2011, 09:28 PM
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I don't think the "cash for clunker" program did the U.S. as a whole much good but I do know that I paid $8,500 for my brand new cobalt so that is win for me.


that is all.
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post #8 of 27 (permalink) Old 01-16-2011, 04:52 PM
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I wish the C4C program would've been limited to purchasing American vehicles, though...that, in my opinion, would've been the best idea.

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post #9 of 27 (permalink) Old 01-16-2011, 05:42 PM
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post #10 of 27 (permalink) Old 01-16-2011, 07:02 PM
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Quote:
Originally Posted by MP81 View Post
I wish the C4C program would've been limited to purchasing American vehicles, though...that, in my opinion, would've been the best idea.
I thought it was? Wutehfax!!!!!!

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