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...

Re: Cash for Clunkers Question...
 

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.

Re: Cash for Clunkers Question...
 

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

Re: Cash for Clunkers Question...
 

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

Re: Cash for Clunkers Question...
 

A million would be ridiculous! LOL

Re: Cash for Clunkers Question...
 

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.

Re: Cash for Clunkers Question...
 

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.

Re: Cash for Clunkers Question...
 

Wish I had a clunker to trade in.

Re: Cash for Clunkers Question...
 

[quote=Mattyk72;569775]Wish I had a clunker to trade in.[/quote]

[url=http://www.craigslist.org]craigslist classifieds: jobs, housing, personals, for sale, services, community, events, forums[/url]

Re: Cash for Clunkers Question...
 

^ ahh good idea

Re: Cash for Clunkers Question...
 

[quote=Mattyk72;569786]^ ahh good idea[/quote]
You have to have owned the car for I believe 2 or 4 years to get that deal.

Re: Cash for Clunkers Question...
 

[quote=firstdown;569793]You have to have owned the car for I believe 2 or 4 years to get that deal.[/quote]

that would make some sense but I can't find anything official in that regard

[url=http://www.cashforclunkersfacts.com/bill/cash-for-clunkers-rules]Cash For Clunkers Rules[/url]

Re: Cash for Clunkers Question...
 

You have to have owned the clunker for 1 year, and you have to drive it to the dealer, and the 4500 or 3500 is not taxable income to the consumer, but to the dealer.
Go Skins, this is the year !!!!!!!!!

Re: Cash for Clunkers Question...
 

[url=http://www.livescience.com/environment/090724-cash-for-clunkers.html]Cash for Clunkers: Smart or Stupid? | LiveScience[/url]

Re: Cash for Clunkers Question...
 

I have a question that somebody might be able to help me with. I pulled a real dumb stunt, and bought a car that someone else now drives, but I am obligated for. It is a 2001 SUV, and I would love to sell it and be done with it, but I am way upside down on the loan. Does anyone think I could use this as a way to get this over with? I am able to make the payments etc, I just want to get out from this other situation entirely. Also, could I trade in a 2nd car at the same time, although not for the cash for clunkers rebate, just to get rid of two older cars for one new one?

Re: Cash for Clunkers Question...
 

[quote=Mattyk72;569796]that would make some sense but I can't find anything official in that regard

[URL="http://www.cashforclunkersfacts.com/bill/cash-for-clunkers-rules"]Cash For Clunkers Rules[/URL][/quote]

Thats because your looking at rules posted on a site trying to sell cars and they just want to get you in the door. LOL

[FONT=TimesNewRomanPSMT][LEFT]The CARS Act establishes four criteria for an eligible trade-in vehicle. The tradein
vehicle must:
(1) be in drivable condition;
([SIZE=4]2) have been continuously insured, in accordance with State law, and[/SIZE]
[SIZE=4]registered in the same owner’s name for the one-year period immediately[/SIZE]
[SIZE=4]prior to the trade-in;[/SIZE]
(3) have been manufactured not earlier than 25 years before the date of tradein[/LEFT]
[/FONT][FONT=TimesNewRomanPSMT][SIZE=1][FONT=TimesNewRomanPSMT][SIZE=1][LEFT]9 [/SIZE][/FONT][/SIZE][/FONT][FONT=TimesNewRomanPSMT][SIZE=3]and, in the case of a category 3 vehicle, also be from a model year not[/SIZE]
later than model year 2001; and[/LEFT]
[/FONT][FONT=TimesNewRomanPSMT][SIZE=1][FONT=TimesNewRomanPSMT][SIZE=1]
Page 27http://www.cashforclunkersfacts.com/cash-for-clunkers-final-rule.pdf

[/SIZE][/FONT][/SIZE][/FONT]

Re: Cash for Clunkers Question...
 

Ah, bummer. Now what am I going to do with these six Buicks I just bought to trade in??? jk :D

Good info, FD, thanks.

[quote=firstdown;569825]Thats because your looking at rules posted on a site trying to sell cars and they just want to get you in the door. LOL

[FONT=TimesNewRomanPSMT][LEFT]The CARS Act establishes four criteria for an eligible trade-in vehicle. The tradein
vehicle must:
(1) be in drivable condition;
([SIZE=4]2) have been continuously insured, in accordance with State law, and[/SIZE]
[SIZE=4]registered in the same owner’s name for the one-year period immediately[/SIZE]
[SIZE=4]prior to the trade-in;[/SIZE]
(3) have been manufactured not earlier than 25 years before the date of tradein[/LEFT]
[/FONT][FONT=TimesNewRomanPSMT][SIZE=1][FONT=TimesNewRomanPSMT][SIZE=1][LEFT]9 [/SIZE][/FONT][/SIZE][/FONT][FONT=TimesNewRomanPSMT][SIZE=3]and, in the case of a category 3 vehicle, also be from a model year not[/SIZE]
later than model year 2001; and[/LEFT]
[/FONT][FONT=TimesNewRomanPSMT][SIZE=1][FONT=TimesNewRomanPSMT][SIZE=1]
Page 27http://www.cashforclunkersfacts.com/cash-for-clunkers-final-rule.pdf

[/SIZE][/FONT][/SIZE][/FONT][/quote]

Re: Cash for Clunkers Question...
 

While we are talking about gas mileage lets have a little fun. What was the worse car you ever owned on MPG.

Mine 1980's Jimmy with full time 4x4 and a 454. It was hugh and could hold like ten people. I got around 7mpg going down hill. I paid $1,000 for the truck and just used it to go out in the woods 4 wheeling. If I got stuck it would take like 2 other trucks to get me out and I didn't care if I hit something. I never understood why guys would spend good money for a truck to just take the thing and run it through the mud.

Re: Cash for Clunkers Question...
 

1984 F-150 with a V8 and two gas tanks. It was all metal and was meant to be abused. We'd drive it around in the snow and ice, taking out stop signs, mailboxes, whatever else we could find. Just kept right on going. If it got 10 mpg, i'd be surprised.

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I had a Lemans in the early 80's, I didn't care about gas mileage, cuz I was young and dumb, but if it got over 7mpg I would be amazed.

Re: Cash for Clunkers Question...
 

[quote=BleedBurgundy;569909]1984 F-150 with a V8 and two gas tanks. It was all metal and was meant to be abused. We'd drive it around in the snow and ice, taking out stop signs, mailboxes, whatever else we could find. Just kept right on going. If it got 10 mpg, i'd be surprised.[/quote]

Nothing like those old trucks. I could take down a 3" thick tree with that Jimmy and just but a little ding in the bumper. Todays trucks it would do $2,000 to $4,000 worth of damage and now that I think about it throw in another $1,500 fir the air bag replacement.

I for got about my 98 olds which was bigger then a cad. It also had a 454 and I paid $75 for the car and drove it for about a year and sold it for $200. Only problem with the car is it had no reverse so you had to watch where you parked.

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1971 SS 454 Chevelle . It actually had a 402 Cu In . engine , I rarely had the stereo on , I loved the sound of that damn car , then some bozo ran a light and CRASH :( . I used to put Cam 2 " pink Gas " in that car < 118 octane > , loved the smell , but got some dirty looks from what Im guessing were eco freaks :)