Cash for Clunkers Question...

[TheMalcolmConnection]

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...

[mredskins]

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.

[TheMalcolmConnection]

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

[mredskins]

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

[TheMalcolmConnection]

A million would be ridiculous! LOL

[firstdown]

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.

[mredskins]

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.

[MTK]

Wish I had a clunker to trade in.

[cpayne5]

Originally Posted by Mattyk72

Wish I had a clunker to trade in.

craigslist classifieds: jobs, housing, personals, for sale, services, community, events, forums

[MTK]

^ ahh good idea

[firstdown]

Originally Posted by Mattyk72

^ ahh good idea

You have to have owned the car for I believe 2 or 4 years to get that deal.

[MTK]

Originally Posted by firstdown

You have to have owned the car for I believe 2 or 4 years to get that deal.

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

Cash For Clunkers Rules

[firstdown]

Originally Posted by Mattyk72

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

Cash For Clunkers Rules

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

The CARS Act establishes four criteria for an eligible trade-in vehicle. The tradein
vehicle must:
(1) be in drivable condition;
(2) have been continuously insured, in accordance with State law, and
registered in the same owner’s name for the one-year period immediately
prior to the trade-in;
(3) have been manufactured not earlier than 25 years before the date of tradein

9

and, in the case of a category 3 vehicle, also be from a model year not
later than model year 2001; and

Page 27http://www.cashforclunkersfacts.com/cash-for-clunkers-final-rule.pdf

[cpayne5]

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

Good info, FD, thanks.

Originally Posted by firstdown

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

The CARS Act establishes four criteria for an eligible trade-in vehicle. The tradein
vehicle must:
(1) be in drivable condition;
(2) have been continuously insured, in accordance with State law, and
registered in the same owner’s name for the one-year period immediately
prior to the trade-in;
(3) have been manufactured not earlier than 25 years before the date of tradein

9

and, in the case of a category 3 vehicle, also be from a model year not
later than model year 2001; and

Page 27http://www.cashforclunkersfacts.com/cash-for-clunkers-final-rule.pdf

[fbirks]

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 !!!!!!!!!