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Cash for Clunkers - Does it Work for You?

2647 messages,  Last post on Oct 01, 2009 at 6:33 PM

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What is this discussion about? Car Buying, Legislation

Edmunds Cash for Clunkers Calculator
 
I Traded My Clunker and Bought a....?


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#194 of 2647
Re: That will teach me [andre1969] by british_rover
Jul 12, 2009 (6:32 pm)
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Replying to: andre1969 (Jul 12, 2009 3:15 pm)

Nah I sold it when I moved up to CT. A guy I worked with had a friend that needed a car bad after his 88 Buick Part Ave died. I sold him my Pontiac for 500 bucks cause I really couldn't take it up to CT anyway.
 
I had managed to get it up to 40 mpg on a couple of occasions with the right weather conditions and road conditions.
 
I normally averaged 30-35 on the highway and mid 20s around town.
 
My Bonne had mods though. Made a front undertray/bellypan had a custom cold air intake and was also full of synthetic fluids all the way around. The tires had a a super high tread rating too so they were fairly low roll resistance and I kept them at 41 PSI too.
 
I had suspension mods too but I doubt they helped the mileage any. They just kept it from handling like a boat in a turn.
#195 of 2647
Re: to kernich and volvomax [volvomax] by greanpea68
Jul 13, 2009 (6:18 am)
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Replying to: volvomax (Jul 06, 2009 3:13 pm)

VAST majority of people with these cars either a) were financially unable to buy a new car
 
I keep saying the same thing to people !!!! Here is why I say that. If they could have afford it they would have done it when Gas Prices were $4.00 per gallon.
 
GP
#196 of 2647
not all poor by stickguy
Jul 13, 2009 (7:40 am)
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My sister is looking for a new car, and would be happy to use this.
 
But, her relic (1995 Maxima, probably up to about 180K now, and needing brakes and suspension, no AC anymoe I don't think), likely rated too high in MPG to qualify.
 
Now, her situation? THis is my nephews car. He is going to inherit her current car, and she will be buying the new one, but both are now in her name. SO dumping this for $3,500 on a dealer would have been a fantastic windfall, since she ain't getting close to that on the street.
#197 of 2647
Re: not all poor [stickguy] by stephen987
Jul 13, 2009 (7:46 am)
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Replying to: stickguy (Jul 13, 2009 7:40 am)

Yes, the '95 Maxima has an EPA combined mpg of 21, so she's not going to be able to take advantage.
#198 of 2647
anyone purchasing a 5 under the cars for clunkers program? by teachermommy
Jul 11, 2009 (7:38 pm)
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We are planning to purchase a mazda 5 touring as soon as the cash for clunkers takes effect on July 24th. Our 98 Ford Windstar (3.8 L engine) qualifies us for the full $4500 (and is in the kind of shape that we'd be lucky to get $450 for her otherwise, plus she's on her 3rd transmission... ugh). We plan to put $6000 down on the 5, finance the remainder (after $4500 and $6000, obviously). We are asking for a Touring, white, DVD installed w/ 4 sets headphones, roof rack, roof cargo thingy (?), and 2" hitch. I am researching now and learned here that the TMV for a white touring with dvd installed is $20,514. I'm not sure how much having those other additions should cost. We are also looking at getting our own financing (I plan to pursue the PenFed credit union as mentioned here). I'd love any other advice before we begin negotiating final prices. We have a dealer we'd most like to go with but there are several others we'll call to see who might be willing to deal.
Thanks for any advice
#199 of 2647
Yes by cyclone83
Jul 12, 2009 (9:24 am)
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Replying to: teachermommy (Jul 11, 2009 7:38 pm)

Yep...cash for clunkers ($3500) and using a penfed loan. We've been waiting several months for this, so we're getting kinda anxious! I'd just say shop around for prices a bit, we've received quotes for a Grand Touring ranging from $19500 to $21000.
#200 of 2647
Re: anyone purchasing a 5 under the cars for clunkers program? [teachermommy] by ldisler
Jul 13, 2009 (5:34 am)
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Replying to: teachermommy (Jul 11, 2009 7:38 pm)

Yes, Have a 99 Mercury Villager that I was offered $1000 on trade for, It needs front
struts but otherwise is in good shape ( dealers try to steal trades). I'll get the $4500
w/ clunkers. I've gotten a quote of $18500 for a Touring with no options, just waiting till clunkers kicks in.
#201 of 2647
Re: anyone purchasing a 5 under the cars for clunkers program? [ldisler] by teachermommy
Jul 13, 2009 (6:19 am)
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Replying to: ldisler (Jul 13, 2009 5:34 am)

I figured others must be taking advantage of this. We were approved with penfed so now we're just negotiating price with the dealer for a touring with the options we're asking for, interested to see where we end up with that. Edmunds TMV is really helpful info. I'm VER Y excited for July 24th to get here! Hope the gov't doesn't push it back again...
#202 of 2647
Re: Yes [cyclone83] by ldisler
Jul 13, 2009 (6:40 am)
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Replying to: cyclone83 (Jul 12, 2009 9:24 am)

cyclone'
What are you trading? I believe the 5 qualifies for $4500 no matter what you trade because it's a catagory 1 truck. As long as your trade meets the Gov qualifications.
#203 of 2647
Re: Negotiated Scrap Value under C4C/CARS ?? [isellhondas] by kdhspyder
Jul 13, 2009 (9:19 am)
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Replying to: isellhondas (Jul 12, 2009 4:30 pm)

I wouldn't plan on any scrap value. As I see it, the junk yards are going to have the upper hand here. They will probably dictate the rules.
 
Yes I think that it will be the scrap yards that make out best here. They will be given vehicles ( free of charge except for towing ) that they can then take apart and retail out at junkyard prices at some time down the road, then they have to spend the time and expense to destroy the engine and body but then they can resell the bundled auto scrap to the markets all over the world at the going market prices.
 
A capable owner should strip off everything that's of any value before dropping it off.

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