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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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#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.
#204 of 2647
Re: Yes [ldisler] by cyclone83
Jul 13, 2009 (9:52 am)
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Replying to: ldisler (Jul 13, 2009 6:40 am)

We are trading in a 96 Pontiac Bonneville that is rated at 18 mpg. I haven't looked very closely, the Mazda5 is category 1 truck???
#205 of 2647
Re: Yes [cyclone83] by british_rover
Jul 13, 2009 (9:58 am)
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Replying to: cyclone83 (Jul 13, 2009 9:52 am)

Most likely yes most Minivans are rated as Cat 1 trucks and as a truck it does get six mpg better then your Old Bonne, sorry to see that go by the way I always liked them, so you should qualify for the 4,500 bucks.
#206 of 2647
Re: Yes [british_rover] by cyclone83
Jul 13, 2009 (10:07 am)
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Replying to: british_rover (Jul 13, 2009 9:58 am)

That is awesome news, thanks. I am sad to see the Bonne go as well, it is the 3rd (and last) Bonne that I will have driven. Excited for our first new car though.
#207 of 2647
Re: Yes [british_rover] by ldisler
Jul 13, 2009 (12:12 pm)
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Replying to: british_rover (Jul 13, 2009 9:58 am)

Automatic 5's are five MPG and stick shifts are six better, but still $4500 CFC.

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