Cash for Clunkers Question...

TheMalcolmConnection · 07-24-2009, 09:55 AM

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 · 07-24-2009, 10:02 AM

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 · 07-24-2009, 10:14 AM

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

mredskins · 07-24-2009, 10:19 AM

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

TheMalcolmConnection · 07-24-2009, 10:53 AM

A million would be ridiculous! LOL

firstdown · 07-24-2009, 11:50 AM

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 · 07-24-2009, 12:02 PM

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 · 07-24-2009, 12:07 PM

Wish I had a clunker to trade in.

cpayne5 · 07-24-2009, 12:18 PM

Quote:

Originally Posted by Mattyk72

Wish I had a clunker to trade in.

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MTK · 07-24-2009, 12:30 PM

^ ahh good idea

firstdown · 07-24-2009, 12:46 PM

Quote:

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 · 07-24-2009, 12:53 PM

Quote:

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

fbirks · 07-24-2009, 01:23 PM

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 !!!!!!!!!

SmootSmack · 07-24-2009, 01:35 PM

Cash for Clunkers: Smart or Stupid? | LiveScience

CRedskinsRule · 07-24-2009, 02:03 PM

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?

07-24-2009, 09:55 AM	#1
TheMalcolmConnection I like big (_\|_)s. Join Date: Dec 2004 Location: Lexington, Virginia Age: 43 Posts: 19,225	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... __________________ Regret nothing. At one time it was exactly what you wanted.

07-24-2009, 10:02 AM	#2
mredskins Gamebreaker Join Date: Aug 2005 Posts: 12,741	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. __________________ When life gives you paper jams, turn them into paper footballs!

07-24-2009, 10:14 AM	#3
TheMalcolmConnection I like big (_\|_)s. Join Date: Dec 2004 Location: Lexington, Virginia Age: 43 Posts: 19,225	Re: Cash for Clunkers Question... It's actually one billion... but I'm already on it, getting the car Monday hopefully. __________________ Regret nothing. At one time it was exactly what you wanted.

07-24-2009, 10:19 AM	#4
mredskins Gamebreaker Join Date: Aug 2005 Posts: 12,741	Re: Cash for Clunkers Question... ^ Ok some old guy at work was bitching about this and said it was only $1m. __________________ When life gives you paper jams, turn them into paper footballs!

07-24-2009, 10:53 AM	#5
TheMalcolmConnection I like big (_\|_)s. Join Date: Dec 2004 Location: Lexington, Virginia Age: 43 Posts: 19,225	Re: Cash for Clunkers Question... A million would be ridiculous! LOL __________________ Regret nothing. At one time it was exactly what you wanted.

07-24-2009, 11:50 AM	#6
firstdown Living Legend Join Date: Oct 2004 Location: chesapeake, va Age: 60 Posts: 15,817	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.

07-24-2009, 12:02 PM	#7
mredskins Gamebreaker Join Date: Aug 2005 Posts: 12,741	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. __________________ When life gives you paper jams, turn them into paper footballs!

07-24-2009, 12:07 PM	#8
MTK \m/ Join Date: Feb 2004 Location: NY Age: 52 Posts: 99,473	Re: Cash for Clunkers Question... Wish I had a clunker to trade in. __________________ Support The Warpath! \| Warpath Shop

07-24-2009, 12:30 PM	#10
MTK \m/ Join Date: Feb 2004 Location: NY Age: 52 Posts: 99,473	Re: Cash for Clunkers Question... ^ ahh good idea __________________ Support The Warpath! \| Warpath Shop

07-24-2009, 01:23 PM	#13
fbirks Camp Scrub Join Date: Jul 2005 Location: Broomfield, CO Age: 77 Posts: 30	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 !!!!!!!!! __________________ “Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.” Dr. Seuss

07-24-2009, 01:35 PM	#14
SmootSmack Uncle Phil Join Date: Feb 2004 Posts: 45,256	Re: Cash for Clunkers Question... Cash for Clunkers: Smart or Stupid? \| LiveScience __________________ You're So Vain...You Probably Think This Sig Is About You

07-24-2009, 02:03 PM	#15
CRedskinsRule Living Legend Join Date: Aug 2008 Age: 57 Posts: 21,406	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?

Cash for Clunkers Question...

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