Car buyers want Cash for Clunkers extended

In an online survey conducted for Cars.com, 55% of recent car buyers and current car shoppers said they would like to see the federal government’s Cash for Clunkers program extended. Of the respondents, 42% said they thought the program was successful, even though only 10% of those surveyed had actually taken advantage of the program.

Of those who took advantage of Cash for Clunkers, 37% said they were shopping for used cars and changed their mind to buy new due to the government incentive; 30% said they weren’t considering a purchase of any kind, but the program was too good to pass up. Another 24% said they were going to purchase a new car but waited for the program to go into effect.

The Cars.com survey was conducted online in September with a random sample of 1,056 people who had either bought a new or used car in the past three months or were planning to buy one in the next six months.

Source: Cars