Cash for Clunkers

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Yooper

Ale's What Cures You!
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Anybody else taking advantage of this program? We did. We have several older vehicles, all in great shape, but it was time to get rid of my 1990 GMC Suburban that I've had since my kids were babies. (I also have a newer Chevy Z-71 that I drive, and we have a couple of older Corollas that Bob or one of the kids drive).

We went from this:
DSCF2003.jpg

To this:
DSCF2008.jpg
That's a Hyundai Elantra that I bought last night.
 
We checked, but our car doesn't get poor enough mileage to qualify for the program even though the car we'd replace it with would more than double it.
 
Yup, downsizing from a nissan quest minivan to a chevy hhr for my wife. I'll continue to drive by bright orange volkswagwn bug!
 
This brings up a point... some people wont be paying cash for thier new cars, so more people will be going further into debt because they see this as a "deal". Shoot, if I got 50% off a new car/truck I still wouldnt do it, because the way I see it, I am STILL spending money that I dont need to.

Wouldnt it then, if people think like this, mean that the only people buying cars under this govt deal, were the ones going to buy them anyway, thus not doing anything for the economy except spending tax $$?

If not, wouldnt it then mean that people are perpetuating thier debt because they werent going to buy a new car, but see this as a "deal" that they cant pass up?

I guess I see the buyers coming from two camps:

1. People that were going to buy a new car anyway, so they just get a tax payer subsidized auto now, which doesnt further stimulate the economy, only deepens our national debt.

2. People that werent going to buy a new car because they didnt need one, but they will now because they see it as a deal. This is bad because they are spending $$ that they dont need to, but now will because they see this as a "deal" or "free money"... probably uncurring debt that they didnt have before getting this new car.

Dunno how I feel about it.

Still, cool cars... glad you all could take advantage of the deal
 
This brings up a point... some people wont be paying cash for thier new cars, so more people will be going further into debt because they see this as a "deal". Shoot, if I got 50% off a new car/truck I still wouldnt do it, because the way I see it, I am STILL spending money that I dont need to.

Wouldnt it then, if people think like this, mean that the only people buying cars under this govt deal, were the ones going to buy them anyway, thus not doing anything for the economy except spending tax $$?

If not, wouldnt it then mean that people are perpetuating thier debt because they werent going to buy a new car, but see this as a "deal" that they cant pass up?

Dunno how I feel about it.

Still, cool cars... glad you all could take advantage of the deal

Yeah, I know where you're coming from. We don't do debt, so we only bought a car we could afford. With the Hyundai rebates, and the CARS program, we paid $9400 for this car. There were some other great deals, but I really didn't want to spend more than $10,000. Even with tax, title, license, etc, it was a tad under $10,000.

We weren't going to buy a new car- but were thinking about getting a good used car in the next couple of years. But we decided that it was time to get rid of the gas-guzzling Burb, and then when both kids go to college next year they can take the older Corollas.

The funny part is that my old Suburban ran like a dream. In the last 10 years, I haven't spent any money on it at all. It ran great, and was a great vehicle for our family. But we bought in back in the days when gas was cheap and we often pulled a big camping trailer. I feel kinda bad that it's going to be destroyed.

I don't feel like I need to defend taking advantage of my share of the stimulus pot- after all, in my income bracket, much of our income goes to taxes to support the underpriveleged. I've been an American taxpayer for over 30 years. Longer than most of you have been alive, I've been working!
 
Howzit go in the snow?

I guess you will find out next month. :D

I don't care who you are, that right there ^^^^^ is funny!! :)

Very funny. One of the options is to get it with skis. So it will work great in the snow. :D

It was in the low 40s a couple of days ago. Oh, last Sunday, we went on a little cruise on Lake Superior. Here's a picture (complete with winter coats!):
DSCF0723.jpg
So, snow in August? yeah, maybe so!
 
Very funny. One of the options is to get it with skis. So it will work great in the snow. :D

It was in the low 40s a couple of days ago. Oh, last Sunday, we went on a little cruise on Lake Superior. Here's a picture (complete with winter coats!):
View attachment 12232
So, snow in August? yeah, maybe so!
Geez! I wish I were there. 105 degrees again in texas.
 
I was going to bring up the cash for clunkers thing, but in the Debate forum.

I'll let someone else handle that, glad you got a new car you are happy with.
 
Wouldnt it then, if people think like this, mean that the only people buying cars under this govt deal, were the ones going to buy them anyway, thus not doing anything for the economy except spending tax $$?


The program was designed for people intending to buy cars. People EXACTLY like what Yooper was doing: intending to buy a USED car. The idea was to shift the purchase from the existing used into a new car, and stimulating the new car market (manufacturing and all the trickle down).

At least that is what I understood. So, the theory is logical. Of course, it can be argued from the other side. And wether that stimulus creates actual demand: are Yoopers neighbors or whoever going to keep buying new cars after the stimulus is gone to keep up with the Yoopers?

I guess that is the big question in general... will it work?

On an other note, I really respect folks who avoid credit or limit its use (Pol, Yooper). It is a great philosophy to share. Credit as it is sold at the tables on college campuses today (among other places) is a LIE. It is good to see folks willing to live differently and share that belief.
 
We're doin' it, were in the market anyways and this program just sweetened the deal. Picking up our new CRV tommorow...although we're paying cash. Wanted a subaru but it came down to numbers. Trading in my cherokee for the new car for my wife. Hopefully I'll be able to sell her nissan, throw in a couple extra grand and get me a good used 4X4...i'm a backwoods camping kind of guy and the sentra just won't get me where I'm going. For us the cash for clunkers program is a godsend
 
Oh, yeah, I didn't bring it up for debate. You all feel free to go on in there and talk smack about me all you want! (or to debate the merits of the cash for clunkers bill). I only wanted to see how you guys were doing on getting your new cars.

I'm much older than many of you, so we're the old timers where credit is concerned. No mortgage (house was paid for with cash), but no fancy house, either. From the pictures, you can see the 70s era gold steel siding. It's a big house, but nothing fancy at all. Just comfortable. A really crappy garage, and a big yard.

I've done ok- I mean, I have four cars, a small boat, motorcycle, camper, a lake home, a couple of kayaks, three computers, etc. But nothing ever bought on credit. I saved for 7 years to buy my pick-up truck; I won't tell you how long we saved to buy a lake home! But with me going into retirement in less than a year, we're doing just fine.

Still, I was pretty excited to bring home a new car last night. It's pretty nice, and the gas mileage will be great.
 
Congrats Yooper! I love car shopping, I have so much fun with the negotiations. Knowing the odds are not in your favor make it that much more exciting. Paid cash? Good for you girl!
Lookin good too ;)

I considered it and thought better of it. I really do need to update my vehicle but I am not comfortable strapping on another financial anchor with the way business has been. I mean, I could easily get approved for the loan but if I loose my job I am going to default on my loan. So I've decided to pay cash for a 96-98 sidekick/tracker and do a few suspension/tire upgrades. Economical hunting buggy/commuter. Perfect for me. It begs the question; does it stimulate people who SHOULDN'T buy a vehicle right now and put a bigger strain on the lending industry? Now this probably should go into the debate area...

Congrats again Yooper.
 
I think you got a really sweet ride Yooper. I traded my 13 year old clunker in a month before that program came out or I would have taken advantage of it too.

I'm just crazy that way, buying a new car every 12 or 13 years whether I need it or not. :D
 
I think you got a really sweet ride Yooper. I traded my 13 year old clunker in a month before that program came out or I would have taken advantage of it too.

I'm just crazy that way, buying a new car every 12 or 13 years whether I need it or not. :D

You wild chick! I mean, my Burb was only 19 1/2 years old, and still had plenty of wear. I'm thinking that buying a new car every 12 or 13 years could be my "frivolous" side coming out!
 
No thanks, I will keep my '96 Tbird. Bought it new, just turned 89k miles. I have spent the last 13 years getting the interior seasoned just right with my cigars. Clearcoat on the paint is looking a little ragged but the car runs perfect, is comfortable and the AC blows ice cold. I put a brand new ECM in it in December.
I thought hard about turning it in to get scrapped and getting a new car but then started thinking about a car payment, increased ins. premium. Also wondering how much of that incentive money is dissapearing in dealer markups and numbers finageling.
If I want to drive a new car I go around the corner to the shopping center, they have a neighborhood Avis there. I can rent a car, one shot deal with no recurring monthly payment. I'm not rich like some of you guys.
AP
 
i did the trade in for an elentra also.

i traded in my 97 chevy blazer for $4500, which i paid $4000 for 5years ago.

also, with one of the other things obama did, being able to write the tax off that i paid on it is sweet
 
I looked into this idea, but this pretty much kills it:



What to bring to the Dealer to qualify:

* 1 Year Proof of Insurance. If your insurance card does not cover the entire year preceding the trade in, you will need other proof of insurance. Contact your insurance company to get evidence of 1 year worth of insurance. The form must include, at a minimum, the insurance company, policy number, VIN, start and end date of insurance (showing at least 1 year).
* Proof of Registration going back at least 1 year.
* “Clear” title. This means the title must be free of any liens or other encumbrances. If you have liens, you need to get these cleared before going to the dealer. This may include evidence on the face of the title showing no lien; that the title has been cleared (signed and stamped accordingly), or with an attached lien release from the lien holder.
* The vehicle manufacturer date found on the driver’s door or door jamb is less than 25 years old when you trade it in.

If you do not have any of the above items in your possession, you may do the following:

* Call your insurance company and have them provide evidence of 1 year’s worth of insurance on the trade-in vehicle. Make sure it includes the minimum requirements noted above.
* Contact your DMV for copies of prior registration certificates to show proof of ownership of the trade-in vehicle for at least the past year. The name on the registration must be the same as the name on the title and the same as the purchaser of the new vehicle.
* Clear your title by paying-off any loans outstanding and receive either a newly issued title from the DMV that is free of all liens and other encumbrances, or have the lien release document from the lien holder (signed and stamped accordingly), or your title signed and stamped accordingly (showing it is clear)

Once you are at the dealer you will be asked to certify to the following under penalty of law. The above documents will provide proof to the dealer to assist in this certification process.

* The trade-in is in drivable condition.
* You are the registered owner, and have been for the least the last year.
* The trade-in has been continuously insured for the last year.
* The trade-in is titled in your name and has been for the last year.
* You have not previously participated in the CARS program.



I still have a lien on the POS, and it's not like I can just whip $2500 out of my ass to pay it off. Some 'deal'. hmph.
 
Even with a lien, you can do it! Just arrange financing with the lien holder for the new car, and they'll sign off on the lien on the current title.

A bit off-topic, but still funny. I was waiting (for hours) to finish up the deal, and the dealership was mobbed with buyers. This dealer is the closest Hyundai dealer to my home, but about 170 miles away. So, there I sit. So, I asked how much longer, and they said about 45 minutes. I then went to a great liquor store and loaded up my old Burb with great beer and some wine.

Since it was long past dinner time, and they have a nice lounge, I put an IPA in my purse and went into the lounge and grabbed a cup. I always have a bottle opener on me, so I sat in the lounge and enjoyed a nice cold one.

The GM of the store strolled in and saw me drinking a beer while others were drinking coffee and eating yucky donuts. "My" salesman walked in, too. The GM asked me what I was drinking. I replied "Thunderhead IPA". He said, "Wow- that's one of my favorites!". The salesman told him I brewed. I got a marriage proposal on the spot, and an even better deal on my car! The only thing is, I have to bring in some beer for the GM and some wine for the owner, who is a big wine snob. Gotta love Wisconsin!
 
The EPA re-published mileage specifics. I know several people who "thought" they had a deal until the dealer re-verified mileage stats for the papwerwork and found that the re-published stats put the vehicles out of the running by 1 MPG. They had the option of paying the $4500 as a down or collecting their old car.

The day the Fed made the regostration site available to dealers it crashed for 5 hours. Several dealers lost entire chains of registrations.

The day the site rolled out for taking the invoices so many dealers called the help lines that the phone system crashed.

I see many headaches ahead on this. And I entirely hope that your deal goes through without a hitch. Btw, did you get the airbags option? Or did you tell them you had your own?

Congrats Yoop!
 
* The trade-in is in drivable condition.
* You are the registered owner, and have been for the least the last year.
* The trade-in has been continuously insured for the last year.
* The trade-in is titled in your name and has been for the last year.
* You have not previously participated in the CARS program.

Since you seem to be well informed on the subject, allow me to post a question. I have been following the bill with a bit of interest, but I think they wrote me out of it. I have been driving, for about 2-3 years, SWMBO's grandfathers pickup. Long story short, he bought a new Dodge Ram in 1989, drove it for about 3 years, then it was parked in the driveway for about 16. It received a bit of attention over that time, but for the most part was left alone. About 4 years ago he developed bad dementia and has been living in assisted living. I have had the truck insured in my name since beginning to drive it, but it is still registered and titled in his name.

Would it be possible for SWMBO's mom (who is responsible for his trust, which the truck is a part of) to CARS this truck in for me, then sell me the ensuing new car? Mostly I'd just hate to just send this great old truck to the scrapyard and only get $400 for it when I could get $2500 - $4500.
 
Our Ranger had 55000 miles on it and needed brakes and shocks but was decent. Engine was excellent, a shame to destroy it. Got the $4500 and $500 rebate but business is so good they are reluctant to negotiate.

dealer we saw has been inundated with customers and is doing 25 deals in the next 3 days. Our "guy" says many of the buyers are not bringing in enough documentation even though they are being advised on what to come in with.
 
Does anyone know if they are being at all lenient or negotiating on the new combined mileage requirements? I have a 16 year-old Dodge that is on its last legs, and I will need to buy another car soon. But that model is estimated to get 21 MPG combined, which puts me 3 mpg over the required mileage limit.
 
Since you seem to be well informed on the subject, allow me to post a question. I have been following the bill with a bit of interest, but I think they wrote me out of it. I have been driving, for about 2-3 years, SWMBO's grandfathers pickup. Long story short, he bought a new Dodge Ram in 1989, drove it for about 3 years, then it was parked in the driveway for about 16. It received a bit of attention over that time, but for the most part was left alone. About 4 years ago he developed bad dementia and has been living in assisted living. I have had the truck insured in my name since beginning to drive it, but it is still registered and titled in his name.

Would it be possible for SWMBO's mom (who is responsible for his trust, which the truck is a part of) to CARS this truck in for me, then sell me the ensuing new car? Mostly I'd just hate to just send this great old truck to the scrapyard and only get $400 for it when I could get $2500 - $4500.


Probably not. They were very strict about my name on the insurance/registration continous for at least one year and having the exact same name on this title. They don't want people moving cars around (selling a junker for $1000, so that someone could get the CARS deal with $4500, for example). However, there is a phone number for consumers to call, so check the CARS website and find out! It would be so worth it if you could do it!
 
Yooper congrats... I also took advantage of this deal... Am going to pick up my New 09' VW Jetta TDI tomorrow... I'll post a couple pics when I get it.

Jason
 
Am going to pick up my New 09' VW Jetta TDI tomorrow... I'll post a couple pics when I get it.

Jason

Very nice!!

i'm looking into this as well. I'm going to be replacing my 98 Dakota in next year or 2 anyways, and might as well do it no. I'm kind of holding out thought to see if Ford and/or GM follow suit with Chrysler on the matching deal.

In case you're not aware. Chrysler is currently matching what ever rebate you get. Possible to $9000 off your new car. I don't know all the rules on that though. But I'd prefer to buy a Ford.
 
Very nice!!

i'm looking into this as well. I'm going to be replacing my 98 Dakota in next year or 2 anyways, and might as well do it no. I'm kind of holding out thought to see if Ford and/or GM follow suit with Chrysler on the matching deal.

In case you're not aware. Chrysler is currently matching what ever rebate you get. Possible to $9000 off your new car. I don't know all the rules on that though. But I'd prefer to buy a Ford.

I think Ford is offering some great deals- so hurry in before the CARS program runs out of money!

I would have loved to get a VW- I really like them. In my case, I first wanted another Corolla, but the Hyundai seems much better made and it was about $3000 cheaper.
 
A mechanic friend of mine tells me that the VW's are extremely well built and reliable cars but, repairs are usually double, if not triple, that of any other "domestic" vehicle.

A lesson I have learned recently. When shopping cars, find out how much it'll cost to replace a frikkin key. Our Volvo requires a second mortgage to replace a key. Wish I had known that years ago before I bought the car.
 
I think Ford is offering some great deals- so hurry in before the CARS program runs out of money!

I would have loved to get a VW- I really like them. In my case, I first wanted another Corolla, but the Hyundai seems much better made and it was about $3000 cheaper.

When is the deal over? is it a timed event or until X amount of money is used...?
 
Yea I've heard that the general rule of thumb on most German cars is they cost a bunch to fix... But it has a 5 year powertrain warranty on it and 3 year full coverage warranty as well. And honestly this car only needs to last me 5 years anyway so I'm not too worried about it.

What I liked about this car is that it has a great feel driving it, of course the MPG is ridiculously high as well. The interior is second to none as far as the leatherette seating surfaces are concerned, Plus I could get a sedan with a 6 spd in it... very important to me.

Other amenities: (I don't necessarily care for them but what ever)

Power Sunroof
17" Alloy wheels
6 Disc CD Changer (In-dash)
6 Months of free Satellite radio
16 cuft trunk (Its freaking huge... could easily put about 5 full size golf bags in there.
Climate control, heated seats, outside temp gauge with mpg computing display.

Its a pretty nice car for sure...
 
When is the deal over? is it a timed event or until X amount of money is used...?

X amount of dollars have been allocated. I hear rumors that the money may run out by about August 1, unless congress allocates more.

Many dealers are backed up with these deals, so it's hard to say how much money is left.
 
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