Cash for Clunkers Program?
 

Has anyone used the Cash for Clunkers Program to buy a new car? I am thinking about it. I have an SUV and a couple of trucks to choose from. I really need to add one new vehicle and I am ready for a regular car. Thinking of the Toyota Solara convertible, if I can just find one. Are the dealers giving a fair trade-in or are they just depending on the $3500-$4500 from the government to satisify part of the trade-in?

Experiences anyone?

Are they still doing the program? I know it was running out of money and the government was going to be voting on whether or not they would add more funding for it. I haven't heard if they voted yet... I'm gonna go search cnn.com

I'm interested to hear about other's experiences as well.

The senate has approved an additional $2b for the program! just google "cash for clunkers" there's a bunch of sites with updated info. Your vehicle has to qualify, not all do. For the most part, the clunker trade ins would get more credit ($3500-4500) than they are worth. If your car is worth more than $4500, then you shouldn't use this program.

BTW, I have a corolla, LOL, 35 mpg and 13 yrs old. No problems whatsoever. :D

I bought a 09 Pontiac Vibe and traded in a 93 Jeep Cherokee.....2 DAYS BEFORE I read about or even knew about the CFC program!!!!!!! We were given $500 for the Jeep as a trade in sight-unseen. I really hope the dealer is not getting full CFC $$$ from my Jeep. I'm still trying to heal from that one.

The official site is CARS.gov - Car Allowance Rebate System - Home - Formerly Referred to as “Cash for Clunkers”

To find out what cars qualify, go to Fuel Economy and search for your year and make and model. I know for regular cars (not trucks), the combined mpg must be 18 mpg or less to qualify for this program, I'm not sure what trucks qualify, but the first site should let you know if you have a truck to trade in.

Check first to see if your used car qualifies. Then you will need to find an eligible new car, as you can not buy just "any" car with this program. For example, if your used car gets 18 mpg, you will need to buy a new car that gets at least 22 mpg combined to get $3500 for your used car. If you buy a new car that gets at least 28 mpg combined, you will get $4500 for your used car under the program.

If your car is worth more than $3500 or $4500, then when you go to the dealer, you don't want to use the Cash for Clunkers program and you should just trade it in as you would a normal car. If your used car is eligible and worth less than $3500 or $4500, then you will be getting a better deal than if you were just trading in your car.

I heard on the news that you have to be the original ower of the car as well.. so although it sounds GREAT you have to meet alot of the qualifications as well.. we had a woman on the news who tried this CFC program and she didnt meet any of the qualificaitons, she was so mad!!
Certain MPG
Original ower, cant be a preowned vech
and there were actually a couple more that I dont remember off hand so I would do my homework to make sure your not getting less for your car.

You can check your car value at

New Cars, Used Cars, Blue Book Prices & Car Values - Kelley Blue Book

N.A.D.A. Home Page

My vehicles meet the requirements but all but one is worth more than the Cash for Clunkers allowance. When the program started, I thought the goverment allowance would be in addition to what the car dealership would normally offer as a trade-in. So, if they would normally give me say $8,000 for my truck, would the $4500 or $3500 be in addition or a portion of that $8000?

It makes a difference to me as to when I trade. I want a Toyota so if this money is in addition, then it would be of benefit to me to hurry up my trade. But if the money is just going to be part of whatever they would normally offer as a trade-in value, then no need to hurry. It also makes a difference if I do go with a brand n Toyota Solara (and get the CFC money) or try to find a nice used higher end vehicle and not worry about the govt money.

I own an auto dealership, and the cash for clunkers program is really crazy! Some buyers leave with their new car and are not even sure how much the government is giving them. Dealers have to submit documents and wait for a reply. You do have to meet certain requirements. If your trade-in is worth $8000.00 then you would be better off to trade in. The government does not give you any money in addition to what your trade is worth. The new car you purchase does have certain requirements it has to meet as well. IMO, the program needs some work. The clunkers hace to be totally junked. For people that can't afford a new car, down the road, it will be hard for some to get needed parts.

I'm wondering about this too thanks for posting. But one of the guys I work with says that they are offering $4500 for the "clunkers"

Good luck! I want a Mazda 3. But I don't know if Mazda is a part of this whole deal.

This debt will also be passed on to our kids and grandkids.

I have always taught my girls if you dont have the cash then dont buy it. One of my daughters lives in Md. and drives a 200 SX NISSON, 1995 WITH 250,000 MILES. She wont trade it in because she does not want a car payment. Smart...

Well me and my husband just bought a new 2009 dodge ram quad cab for less than HALF its sticker price!! We bought a "clunker" truck last year for him to drive back and forth to work for $1500. The truck was definatly not even worth that :p no heat, no air, rusted, bad tires, over 200,000 miles.. just all around a clunker :rolleyes:

We wern't actually going to do cash for clunkers until we saw this ad in the paper for the new 2009 dodge truck for $15,000. Well the dealer having the sale said he had sold the truck in the ad so we took the ad down to the next dodge dealer and asked if he could get us a better deal. We ended getting even less than that and got $4500 for our clunker!! It was the best deal we've ever gotten!! I'm so happy we did it and it even LOWERED, yes lowered, our insurance rates (I guess because the new truck is safer). I guess it all depends on what you have and whats it worth to you.

We got a great deal, but we have definatly seen some NICE "clunkers" traded in.. :confused:

I just recently read about the part where they have to junk the car you bring in for the Cash for Clunkers. The whole idea sort of goes against my grain. Taking perfectly good running vehicles, rendering them inoperable, and then giving you money..... I know it is supposed to help shore up our auto industry but only in America would the government pay people to trash a drivable vehicle.

We have a yard truck -- a 93 Sonoma that I got a card for in the mail to tell me it was on the list to qualify. This Sonoma was rated at over 20 some miles to the gallon, is a standard transmission and only has 56,000 miles on it -- really! We only use it around the property, it was our number 1 hurricane clean up vehicle. It is almost too sad to think of rendering it inoperable and sending it to the junk yard. But I could never sell it for $3500 or $4500..... decisions, decisions..... if I don't do something soon thugh, the program will be out of money again. That is the only vehicle I have that I would let go for that low of money. At first I thought maybe the car dealership would kick in up to the regular trade-in value -- that was before I knew they had to junk the vehicles.