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Cash for Clunkers Question...

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Old 07-24-2009, 08:55 AM   #1
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Cash for Clunkers Question...

OK, so my wife and I have this truck that's MAYBE worth $500 that we're going to trade in for this program on a new Honda Fit. So we got them down on the price, but I was under the impression that the dealer had to give us scrap value FOR the truck. This could be like around a grand apparently...

The dealer is acting like they don't make any profit off this deal, which I'm like, "SURE YOU DO."

Basically, the government is giving THEM $4500 for our truck and we're giving them the truck for free. Should I be demanding the scrap value applied to the price? Legally they HAVE to let us see the scrap estimate...
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Old 07-24-2009, 09:02 AM   #2
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Re: Cash for Clunkers Question...

I thought there was a $1m cap on this 4500 thing which equates to about 222 cars. If you get this discount consider yourself lucky.
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Old 07-24-2009, 09:14 AM   #3
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Re: Cash for Clunkers Question...

It's actually one billion... but I'm already on it, getting the car Monday hopefully.
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Old 07-24-2009, 09:19 AM   #4
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Re: Cash for Clunkers Question...

^ Ok some old guy at work was bitching about this and said it was only $1m.
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Old 07-24-2009, 09:53 AM   #5
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Re: Cash for Clunkers Question...

A million would be ridiculous! LOL
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Old 07-24-2009, 10:50 AM   #6
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Re: Cash for Clunkers Question...

I'm not sure they have to give anything else over the $4,500 that they are giving you for your truck. Average junker goes for around $500. How does this plan work does it come right off the price of the car and if they are giving you the $4,500 which is the max I bet you have to claim that as income on your taxes. That just a guess.
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Old 07-24-2009, 11:02 AM   #7
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Re: Cash for Clunkers Question...

I beleive comes directly off the price of the car and the dealer gets the money fro mthe govertment. I would have negotatied first then drop the 4500 bomb otherwise I could see dealers think that was their haggled down price.
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Old 07-24-2009, 11:07 AM   #8
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Re: Cash for Clunkers Question...

Wish I had a clunker to trade in.
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Old 07-24-2009, 11:18 AM   #9
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Re: Cash for Clunkers Question...

Quote:
Originally Posted by Mattyk72 View Post
Wish I had a clunker to trade in.
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Old 07-24-2009, 11:30 AM   #10
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Re: Cash for Clunkers Question...

^ ahh good idea
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Old 07-24-2009, 11:46 AM   #11
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Re: Cash for Clunkers Question...

Quote:
Originally Posted by Mattyk72 View Post
^ ahh good idea
You have to have owned the car for I believe 2 or 4 years to get that deal.
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Old 07-24-2009, 11:53 AM   #12
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Re: Cash for Clunkers Question...

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Originally Posted by firstdown View Post
You have to have owned the car for I believe 2 or 4 years to get that deal.
that would make some sense but I can't find anything official in that regard

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Old 07-24-2009, 12:23 PM   #13
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Re: Cash for Clunkers Question...

You have to have owned the clunker for 1 year, and you have to drive it to the dealer, and the 4500 or 3500 is not taxable income to the consumer, but to the dealer.
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Old 07-24-2009, 12:35 PM   #14
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Re: Cash for Clunkers Question...

Cash for Clunkers: Smart or Stupid? | LiveScience
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Old 07-24-2009, 01:03 PM   #15
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Re: Cash for Clunkers Question...

I have a question that somebody might be able to help me with. I pulled a real dumb stunt, and bought a car that someone else now drives, but I am obligated for. It is a 2001 SUV, and I would love to sell it and be done with it, but I am way upside down on the loan. Does anyone think I could use this as a way to get this over with? I am able to make the payments etc, I just want to get out from this other situation entirely. Also, could I trade in a 2nd car at the same time, although not for the cash for clunkers rebate, just to get rid of two older cars for one new one?
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