Stimulus Schmimulus: Americans not spending on cars

Schmimulus? Yeah, I don't know either, just roll with it. I haven't had my meds yet today.

Leasetrader.com released survey results today on the United States' tax stimulus rebate checks that started going out last week and should be fully distributed by the end of July. This survey discussed if people would be taking the checks, valued between normally 600-1800 dollars, and spending them on new cars. The result: A resounding NO.

81% of those surveyed said that they would NOT be using the money to purchase a new car, again another symbol of the desperate vicious circle the American auto industry is undergoing. With gas prices climbing and there being no indication when the price of oil is going to stop rocketing upward, Americans are more than likely under the guise that doing such a thing would be throwing good money after bad.

And who can blame them? It's not as if this stimulus check is giving people over the top money that will suddenly infuse the masses--more than likely a great deal of people will be using it for their credit crisis for their cars, homes, and credit cards in general. I sincerely am not surprised that this check making its way to Americans has them thinking about having a nice, new shiny car in their driveway. It may just be to put food on the table.

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Stimulus Schmimulus: Americans not spending on cars

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