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Automotive News & Views Cash for Clunkers - Good or Bad Idea?
4110 messages, Last post on Nov 23, 2009 at 11:42 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
For questions about how the program works or to discuss program details, please visit our discussion titled, "Cash for Clunkers - Does it Work for You?"
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Replying to: tucsondon (Jul 11, 2009 8:25 am) If the program is a big success I firmly believe that it will be extended quarter by quarter at least through 6-30-10. Originally the program was foreseen to be 12 months and $4 Billion. I think that this will be the scope of the program. |
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Replying to: tucsondon (Jul 11, 2009 8:25 am) |
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Replying to: tucsondon (Jul 11, 2009 8:25 am)
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Replying to: emmettdog (Jul 11, 2009 9:31 am)
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Replying to: Mr_Shiftright (Jul 11, 2009 9:42 am)
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Replying to: emmettdog (Jul 11, 2009 10:03 am) One question---who gets the $$ for the scrapped car?
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Replying to: Mr_Shiftright (Jul 11, 2009 10:15 am) 1...the current owner strips as much of the vehicle that he can, keeping it legal, and then turns it over to the dealer 2...the dealer could strip down the clunker for parts and ship the frame and engine to the scrap yard 3...the scrap yard strips off everything and destroys the engine. Any or all of these could get part of the $$$ from the scrapped parts, but... 1...most traders are not car-savvy enough to salvage much from their clunker 2...most dealers are not scrap yards and don't want that junk hanging around messing up the premises. We for example are not at all interested in any amount of scrap and junk around our site. Everything we take in will go immediately to the scrapper. He can have all the proceeds of scrapping it. It doesn't matter to us one way or another. 3...my guess is that the scrappers will get all the revenue Frankly I don't think that the legislation cares who gets what as long as the engine is destroyed.
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Replying to: tucsondon (Jul 11, 2009 8:25 am) Just have to make a couple of assumptions and use Hyundai's last three months of sales. June 37,943 May 36,937 April 33,952 OK so the past Hyundai has been picking up steam going into the summer for the past three months so I wouldn't use just the average of the past three months which is 36,277 sales. Lets say they do better then June like the have been doing and they do 38,943 sales for July. That is about 9,700 sales a week and seven percent of that is 681 cars. Granted that is a lot assumptions but without more info there is no other way to do it. |
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Replying to: kdhspyder (Jul 11, 2009 10:49 am)
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Replying to: emmettdog (Jul 11, 2009 11:02 am) [quote] In addition to the credit, will I get the full value of my trade-in vehicle? No. The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with the dealer for your trade-in vehicle is not likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle. [unquote] The dealer only has to tell you what the estimate of the scrap value is. It doesn't say that you have any right to get any of that value. It says nothing about it. That's an individual discussion between each trader and each dealer. If one dealer is willing to give you all or part of that value then that sounds like a good deal for you, but it's not required.
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