[RIJIMMY]

I know, just more complaints. Data sucks when it comes to hope and change. I hate this reality crap.

Stimulus program results in high repo rate
Fri, 01/22/2010 - 17:50 — Consumers Law According to a recent research study, the Cash-for-Clunkers program resulted in high rates of repossessions for new car buyers. From USA Today: "Higher credit risk buyers who used the government's cash-for-clunkers program last year to buy a new car had higher repossession and late payment rates than those who didn't use the program.."

Of course, sub-prime borrowers are visited most by the repo man. According to the article:

Among subprime credit borrowers, those who used the clunkers program had a 4.8% repo rate, more than double the 2.2% who bought similar vehicles but didn't use the government incentives.