Cash for Clunkers Question...

OK, so my wife and I have this truck that's MAYBE worth $500 that we're going to trade in for this program on a new Honda Fit. So we got them down on the price, but I was under the impression that the dealer had to give us scrap value FOR the truck. This could be like around a grand apparently...

The dealer is acting like they don't make any profit off this deal, which I'm like, "SURE YOU DO."

Basically, the government is giving THEM $4500 for our truck and we're giving them the truck for free. Should I be demanding the scrap value applied to the price? Legally they HAVE to let us see the scrap estimate...

I thought there was a $1m cap on this 4500 thing which equates to about 222 cars. If you get this discount consider yourself lucky.

It's actually one billion... but I'm already on it, getting the car Monday hopefully.

^ Ok some old guy at work was bitching about this and said it was only $1m.

A million would be ridiculous! LOL

I'm not sure they have to give anything else over the $4,500 that they are giving you for your truck. Average junker goes for around $500. How does this plan work does it come right off the price of the car and if they are giving you the $4,500 which is the max I bet you have to claim that as income on your taxes. That just a guess.

I beleive comes directly off the price of the car and the dealer gets the money fro mthe govertment. I would have negotatied first then drop the 4500 bomb otherwise I could see dealers think that was their haggled down price.

Wish I had a clunker to trade in.

Wish I had a clunker to trade in.

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^ ahh good idea