Reply With QuoteWhat is it? I have not heard of it.
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Senior Member
Anyone thinking about taking advantage of this. I'm not into buying new vehicles but if I owned a vehicle that met the requirments I would seriously consider getting a new one with this program.
Senior Member
What is it? I have not heard of it.
Senior Member
Originally Posted by DJD
Basically it's a effort to try and get people to trade in there lower mpg vehicles for more fuel efficient ones. You can get anywhere from $3500 to $4500 rebate if you meet the requirments and you can still get any incentives offered by car companies to sweeten the deal even more.
Here's a link with a lot of info.
http://www.cars.gov/
Senior Member
Absolutely rediculous that my tax dollars are going to help people buy new cars. I am not blaming anyone for taking advantage of this program but I firmly believe that it is another example of BIG GOVERNMENT getting involved in businesses where it doesn't belong.
That's my opinion.
Grumpy
Senior Member
I actually qualify with my Minivan......I have not decided if I will partake or not.
I actually think you can beat the 4500 bucks they are giving you with dealer incentives, and 0% financing.......
My sister, who is trying to use the clunkers deal said that once the dealership knows you're using the cash for clunkers program, THEY really try to make their money.......Another RACKET......
And I've never been a protectionist....but I think ANY vehicle purchased should be an AMERICAN MADE vehicle........NOTHING IMPORTED......
Later,
Geo
Senior Member
From what I've read and heard you can get both the Cash for Clunkers discount and any dealer incentives being offered.
Here's a quote from the link I posted.
"Can I use this credit in combination with manufacturer’s rebates and discounts?
The CARS Act requires the dealer to use the credit under the CARS program in addition to any rebates or discounts advertised by the dealer or offered by the new vehicle's manufacturer. The dealer may not use the credit to offset these rebates and discounts."
Senior Member
Revised list due to EPA calculation error of mpg.
These 78 cars removed from eligibility
http://content.usatoday.com/communit.../07/68495610/1
These 86 cars were added
http://content.usatoday.com/communit.../07/68495611/1
Just find it Ironic that my sons 1997 Chrysler LHS is NOT eleigable for this Program but my 2000 F-150 is if I replace it with a Chevrolet Cobalt. If I do I'm not sure how I'll pull the boat. I haven't checked the towing capacity of the Cobalt yet.
Senior Member
It only makes sense if you have a qualifying vehicle that is (a) paid for and (b) worth less than $4500 trade in value.
I wonder how many people with a qualifying old vehicle that's paid for and they have no car payment on now will use this $4500 to get into a vehicle that then yields them a car payment that they won't be able to afford?
The government plays this as an energy benefit, American's using less gas. Okay, maybe so. But in reality, the government is baiting American's into more debt, in an already weak economy, to help keep the Automakers alive...after having already bailed them out once!
Senior Member
If we keep buying less gas for more fuel efficient vehicles they will increase the gas tax! You can't win...
I'm kicking it around. What if I went to the junk yard and bought a $400 car that just barely moves, and as soon as paid for drive it right to the trade in dealer? That sounds to me like a 1000% return on investment the same day.
Wife tried to trade me in......over 10 years.....get way less that 10 mpg, but the dealer said the roller skates she had me wear did not qualify me as a wheeled vehicle. I about passed out when she attached my license plate.
Senior Member
The traded car had to have been registered and insured the full year before.
* Your vehicle must be less than 25 years old on the trade-in date
* Only purchase or lease of new vehicles qualify
* Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
* Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
* You don't need a voucher, dealers will apply a credit at purchase
* Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
* The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
Senior Member
Amen to that!! I agree 100%.
As far as the program is concerned, as long as parts are still available I've always been under the impression that it's "cheaper to keep her", instead of forking out money for interest on a loan, higher taxes, higher insurance rates, etc. And you know just because you get a newer vehicle doesn't mean you're not going to have repair bills, along WITH what is now a monthly payment.
Not enthused about this program, just my two cents worth, but I do think Hurricane had a great idea!
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