WHat are you going to do to benefit from the "Cash for Clunkers" program

[sblake01]

There were about 120 "clunkers" that I parked mine beside - trust me, you wouldn't have paid $500.00 for any of them.. $9000.00??? I think your friend at Midnight needs to watch what he's smoking ;-)

If the car was worth $9000.00 the dealer would simply put it on the Used Car Lot and not sold it to the Government for $4,500.00 there isn't a Dealer left in business at this point that is that stupid.

FWIW,

Carl B.

That's what he said. I've known this guy for some time and have no reason to doubt what he told me. I did say 'many' of the cars. Perhaps the word should have been "some'. The couple of cars he pointed out looked pretty clean. On your other point: Isn't the car "sold" to the Government the minute it's turned in as a clunker? Meaning that at that point the dealer doesn't have any choice in the matter regardless of what the vehicle is worth. Other that shipping it off to have it's engine sanded, it's qualifying parts sold and the rest of it crushed within a 180 day timeframe.

[Jeff G 78]

Yes, but a slimy dealer could give the customer $4500 and not write it up as a CARS turn-in. It would simply be a trade-in.

[sblake01]

Yes, but a slimy dealer could give the customer $4500 and not write it up as a CARS turn-in. It would simply be a trade-in.

Yes it would and in that sense how would that be 'slimy'? As long as the dealer didn't get the money from the gov't and didn't turn the car in as a 'clunker'.

[jmortensen]

Tell me where you can buy any of the top 10 trade in models for $500. I'll head there now...

http://autos.yahoo.com/articles/autos_content_landing_pages/1036/top-cash-for-clunkers-trade-ins-and-new-cars/

[gogriz91]

I guess I'll have to be content to pay taxes and be grateful I don't have a car payment, I will look into getting a bumper sticker that says "I owe, I owe, so off to work I go".

[Jeff G 78]

Yes it would and in that sense how would that be 'slimy'? As long as the dealer didn't get the money from the gov't and didn't turn the car in as a 'clunker'.

Assuming the dealer didn't let on that the car would not be turned in for a rebate, they would be slimy. If they were honest and told the customer that they would resell the car, it wouldn't be a CARS transaction, but rather a simple trade-in.

[beandip]

I am just going to sit back and watch people that cannot afford a new car , trade in one that is paid for and go further into debt.

[sblake01]

I've recently talked a couple of friends and a family member out of doing just that.

[Carl Beck]

I am just going to sit back and watch people that cannot afford a new car , trade in one that is paid for and go further into debt.

Why would you assume that? Perhaps like me - their clunker was paid for years ago - and ever since they saved their money monthly... I'll bet that of the new cars sold with the CLUNKER program a huge percentage of the customer paid cash for the difference - or had such good credit they could put it on their VISA. Like I said - at least around here - you have to have A+++ credit ratings to get a loan on anything - this isn't the same market we had a couple years ago...

With Manufacturers Discounts, and the CARS credit - most of the vehicles sold cost around 20K to start with - and the actual difference was between $10K and $15k {I'm guessing}... not exactly like financing a new car for $30K over seven years.

Even then - "IF" you have the credit rating -"0%" financing on a $15K loan - is still very affordable for people that have good credit to begin with..

FWIW

Carl B.

[Carl Beck]

Tell me where you can buy any of the top 10 trade in models for $500. I'll head there now...

http://autos.yahoo.com/articles/autos_content_landing_pages/1036/top-cash-for-clunkers-trade-ins-and-new-cars/

Hi Jon:

You have to admit that model and model year alone - really doesn't tell you much about the vehicle. My wife had a 1991 Expolorer - she is a very easy driver - when we sold it in 2000 it want for $6K with 86K miles - prior to selling it we put about about $2K into it - power windows failed, brakes were due, the evaproator sprung a leak.. Jump forward 10 years - and picture the Explorer with 150K miles falling completely apart.. Or check your local junk yards and see how many are there - not wrecked, but just with blown tranny's and engines - and not worth fixing.

I can see why the 90's Explorers are topping the list.. No question there are a few out there with 50K original miles that some old lady had that you can buy for $6,500.00 today... but they aren't the ones being turned in - at least not around here.

FWIW,

Carl B

Edited August 13, 2009 by Carl Beck

[Carl Beck]

On your other point: Isn't the car "sold" to the Government the minute it's turned in as a clunker? Meaning that at that point the dealer doesn't have any choice in the matter regardless of what the vehicle is worth. Other that shipping it off to have it's engine sanded, it's qualifying parts sold and the rest of it crushed within a 180 day timeframe.

The car becomes a "Clunker" when the Dealership fills out the on-line forms with the CARS program office. At that point the Dealer has to give them the VIN along with a lot of other data, copies of the Title, Registration, Insurance from the customer.

If the Dealer decides to keep and resell the car - he can't show it on the Customer Sales Order as a "CARS Program Credit" - doing so would risk serious Federal Penalties - Keep in mind that these are Authorized New Car Dealerships worth millions and millions of dollars - no Owner would risk that.

The Dealer has to disable the engine per the procedures outined in the code - before it is turned over to the Salvage Yards... and then there is a whole paper trail until what's left is crushed.

Additionally the Customers have to sign certain forms, and swear to certain facts - again any misrepresentation carries Federal Penalties that far exceed any potential reward. Anyone with any nerve can screw with Local and State Laws - and with a good Lawyer walk away pretty clean if caught. That is NOT the case when dealing with the Fed's - they can destroy you and they enjoy doing it. Unlike Medicade/Medicare - I really don't expect to see much fraud with this program..

FWIW,

Carl B.

[FilipeA]

HI

That is funny to ear and the same is already being doing in Portugal. Almost every Car Manufactures are giving 5000€ to everyone that has a more them 8 years old car and wants to trade it for a new one that has a low CO2 polution.

For what i can see here, i don`t see any Ferraris, Porsches or even Datsuns being hit by this program.

Only one time i saw one or two pictures of old TE27 Corollas to crush...

About selling parts from that cars, what i know is that almost every crushers that has that cars, they give all parts FREE, they don`t want any money and sometimes they have there a friend or an employe that put an add or something like it, advising people to come there and take all parts they want 100% FREE.

I guess Classic cars will always be Classic Cars, but sometimes i think in our plantet too.

Filipe