Cash for Clunker--> Destroyed GNX

lee01

1GR8MMBR
I found this over another forum, anyone know about a destroyed GNX due to the 'Cash 4 Clunker' program???

This is the complet article:
http://www.freep.com/article/20090923/BUSINESS01/90923004/?imw=Y
also discuss there:
http://www.v8buick.com/showthread.php?p=1501315

At its
creation, a 1997 Bentley Continental R was one of the most powerful and
exclusive cars in the world, with every hand-built copy from the
English countryside valued at $300,000 and beyond.
A few weeks back, the owner of one such
Continental R decided it wasn’t worth more than $4,500, had its engine
destroyed and shipped it to a junkyard with the rest of America’s
clunkers.



It’s one of several rare or surprisingly
new vehicles destroyed under the Obama administration’s cash for
clunkers program designed to sweep old gas guzzlers off U.S. roads.
According to new government data, the rebates of $3,500 or $4,500 were
enough to doom the Continental and a ’97 Aston Martin DB7 Volante that
once had a sticker price of $135,000 to the crusher.


And 37 people decided to clunk models that were less than a year old.
Beyond car lovers’ grief over why anyone
would destroy sweet rides like a 1999 Mercedes C43 AMG, the value of
the junked jalopies plays a major role in deciding whether the $3
billion program helped the economy.



Two economists at the University of
Delaware said Tuesday that assuming the average clunker was worth just
$1,000, the costs outweighed all benefits by $1.4 billion.




While the data provided by the federal
government doesn’t give any indication of the clunkers’ mileage or
condition when they were turned in, the vehicles had to be in running
condition and insured for at least the past year.



Some enthusiasts would have paid many
thousands of dollars for the rare 1987 Buick GNX destroyed under the
program; only 547 were built. The nation’s supply of used Chevrolet
Corvettes was thinned by 131, including 34 convertibles, and the
program also liberated 22 Americans from the burden of owning a
Peugeot.




The 2008 model year vehicles deemed
clunkers ranged from a Scion xD to 10 Mercury Grand Marquis sedans to
two copies of special edition F-150 pickups, sporting 450-hp V8s and
Chip Foose-designed paint jobs.



The most popular clunker was the Ford
Explorer, with 69,887 copies turned in, accounting for roughly 10% of
the trade-ins under the program. Under federal law, only vehicles built
after 1984 were eligible for the program, and the trade-in rules
favored trucks over cars to spur the removal of less efficient models.


Cost analysis
Backers of the program have credited it
with snapping the U.S. auto industry out of its worst slump in decades
and bringing factory workers back on the job as automakers ramp
production and spurring sales of fuel-efficient models.
President Obama’s Council of Economic
Advisors estimated last month that the program saved or created 21,000
jobs and boosted the national economy in the third quarter.
But several economists have questioned
those claims, contending that the clunkers had a value to society that
has to be added into the program’s costs. Burton Abrams and George R.
Parsons, professors at the University of Delaware, said in a study
published Tuesday that the clunker program likely cost the country
$2,600 per vehicle while producing benefits worth only $596 per trade –
leaving a gap of about $2,000 on every clunker.



Abrams and Parsons said all of the
program’s benefits derived from burning less fuel, and any increase in
auto production or employment were a transfer of wealth rather than
real economic growth.



Clunkers “gives participants a substantial
gift,” they said. “Meanwhile the burden of the program is dispersed
over a large group of taxpayers. Concentrated benefits create vocal
advocates while diffused costs produce silent apathetic opponents.”


Additional Facts
Among the list of unusual clunkers under the federal cash-for-clunkers program:
1997 Aston Martin DB7 Volante:
1988 Aurora Cars Ltd. (Shelby cobra replica)
1992 BMW 850i
1987 Buick GNX 1987
1987 Excalibur Autos Phaeton
1990 Laforza
1985 Maserati Quattroporte
1999 Mercedes C43 AMG
1992 GMC Typhoon
1997 Rolls-Royce Continental R
2006 Roush Stage 3 F-150
 

just plain john

El Camino a Go-Go!
Hmmm, I see they got a Typhoon too. I wonder what's to keep the powers that be from targeting a group like the high performance community and legislate/tax them out of existance. I happen to smoke, and over the last 30 years it went from commonplace to criminal. All in the name of the "common good". The common good is not served by 10 second cars now that the powers that be have determined miles per gallon is the end all be all. Didn't mean to rant....
 

datant69

New Member
so should the gnx be the fortunate 546 now

someone has some sweet parts to sell i know that for a fact if that went to the boneyard. i stopped at one locally last week and they were selling some parts off car from the clunker program but wouldn't let anyone pull the engine. bet if you really needed it you could talk to someone on the side with a nice tip for letting you pull what you wanted. what would an engine from a GNX bring ? condition being was running but parted out? mileage unknown?
 

datant69

New Member
yea

knock some sense into someone, who knows maybe it's a scorned X who got it in the divorce and crushed it out of spite. you never know the complete story but i'm sure the salesmen where like i want to buy it.
 

Bruce Urie

The Ventures,CCR forever!
:mad:
Get me his add!!!!! going with my 45!!!:mad::mad::mad::mad:

I'm with you! My God!!! I can't believe such a stupid move! :mad:Really pissed me off!

What REALLY bothers me also is when Obama really comes after our TurboRegals/Grand Nationals with his stupid, idiotic agendas:rolleyes:. He's sticking his unwanted business into too many of us Americans who are just trying to enjoy having a hobby to make us happy in our spare times. We are not hurting anyone owning and modifying our precious, fast, Regals. We love them, and no way anyone will ever, ever get my '87 from me. Ever.:mad: Are we going to have to hide our fast Regals in barns to protect them? Damn that idiot GNX owner. I would have given him $4501 for it,:D more than the government would.

End of rant.

Bruce '87 Grand National
 

ronbuick

Active Member
I really find it hard to believe that people with the types of cars listed have to know the value of those cars, because they BOUGHT them, so buy high and sell
low, I just find this hard to believe or if true they need to be dispatched:D
 

datant69

New Member
when you have money to burn

what do you do, get rid of some stuff that you no longer care about. hell i'd be a red headed step child for that freaking car. as a valet parker when the golf tourny came to fort worth back in the early 90's i'd get to park cars for people who didn't give a rats a55 @ their car. one guy came in with a new vette, all the bells and whistles longhorn burnt orange, convert. left it down, now this is in may when it rains like a freaking typhoon. we park his car up at the TCU stadium and when the rain came we ran around trying to get the convert's tops up. for some reason we couldn't figure it out or something so it rained real good inside his car. when the valet driver took him back to his car he asked about it and was told we couldn't get his top up. without missing a beat he said " awe it's ok i had my dog in it the other day it needed to be washed out." when i heard that i wanted to find him and slap him.
 

jasjamz

THS Racer
If I could count the number of times that my car has been identified as a MC SS, T Type, and once or twice a GNX....
I'm just saying some people make mistakes....
 

sugarandopium

where were the spiders
i guess it is true, check out the other thread in the lounge with the actual victims from the official site, looks like they got a TTA too :(
 

Rodimus_Prime

Dirty Bird
I don't really think you can place the blame on the government, its just convienant for some to do that.

If your dumb enough to trash a 40-50k car, its on you, its not the government's fault people are stupid (well some could make an arguement about the education system in this country, but nobody places any importance on that)
 
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