Cash for Clunkers

[Markor]

[TJ_98370]

[TJ_98370]

We checked out the Escape. There were like a total of four customers on the lot when we were there and we were two of the four. They had one, a grand total of one single solitary Escape on the lot, and of course they could not sell it to me for $13K, it was more like $14.5K. She did not like the interior color and it had an automatic transmission. She wants a manual transmission, so I am off the hook for now while she thinks about it. I think it is probably still a good deal for someone who really likes the Escape.

The salesman said something interesting about the CARS program though. He said that only about 1% of potential customers would / could qualify for the program. He did not elaborate as to where he got that percentage, but that figure seems awfully low. He did say that he had one potential buyer who wanted to buy a new Ranger, but his trade in did not meet the CARS gas mileage standards and he had two other customers who inquired about the CARS program but their trade-ins had values exceeding $4,500.
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[S-Crow]

TJ-

I inquired about that program as well. If anyone does have a car that qualifies, be certain that you start your negotiations at invoice price working towards a lower price in your favor. I visited a couple dealers over the weekend in between some family obligations and the dealers are focusing on all incentives (dealer, manufacturer and cash for clunkers) off of MSRP. You need to negotiate price first, then incentives .

Do your homework. I'm noticing in some forums that people are sharing their prices and some are doing quite well.

One interesting site to use for values other than Edmunds.com is Truecar.com. The invoice price of vehicles on Truecar are very very close to Edmunds but they take it a step further and utilize actual sold data and show you actual dealer acquisition costs including dealer holdback from manufacturers.

My wife is currently considering the Hyundai Sonata GLS and looking to buy for around $12,500 + TTL including all rebates ($22K MSRP). She is also considering the Mazda 6 i Grand Touring, for about $19K+TTL (MSRP $30K fully loaded with NAV).

We would never consider a brand new car without the $4500 incentive for a clunker. But it is definitely getting me to inquire. Mazda had a zero percent incentive through Chase for 36 mos as well. 0% leverage is something I'd consider.

[vermillionsky]

My husband has a 2001 Escape, and we both love it. Big enough to haul stuff, but not huge. It gets better mileage than my 1999 Taurus, and is more comfortable to drive/ride (more leg room & higher seats).

I was hoping to trade my Taurus in for something new this fall, but it doesn't qualify. fueleconomy.gov says it gets a combined 19 MPG, but I don't think that number is accurate.

[WestSideBilly]

[WestSideBilly]

[TJ_98370]

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for now?
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The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.
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The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle........
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.......A survey of 2,000 dealers by the National Automobile Dealers Association found about 25,000 deals had not yet approved by NHTSA, or nearly 13 trades per store. It raised concerns that with about 23,000 dealers taking part in the program, auto dealers may already have surpassed the 250,000 vehicle sales funded by the $1 billion program.
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"There's a significant backlog of 'cash for clunkers' deals that make us question how much funding is still available in the program," said Bailey Wood, a spokesman for the dealers association.
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Even before the suspension, some in Congress were seeking more money for the auto sales stimulus. Rep. Candice Miller, R-Mich., wrote in a letter to House leaders on Wednesday requesting additional funding for the program.
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"This is simply the most stimulative $1 billion the federal government has spent during the entire economic downturn," Miller said Thursday. "The federal government must come up with more money, immediately, to keep this program going."......
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[WestSideBilly]

Congress has already approved an additional $2B for this god-awful program.

[SeattleMoose]

This Just In!!!!

The government's "trial balloon" is over. Turns out the CFC program was just a strawman for a new program called "Cash for Dumps" (CFD).

Rules are as follows:

1) House had to have been bought between 2004 and 2007
2) Had to have signed up for a "risky" loan (Alt-A, Subprime, Reverse, etc.)
3) Sale price had to be more than $1 Million
4) Current value has to be 30% or more off peak value
5) You have to work for "too big to fail" Bank or Wallstreet firm or....legislative/executive branch of US govt (grandfather clause applies all way back to 2000)

Amendment: If you qualify for 5) then 1) thru 4) not required.

If you qualify for the CFD Program you will be given $1M tax free with no questions asked.

If you don't qualify you will still win a free Zune in stunning cigarette brown and a free copy of MS Vista (dump edition).

Pretty straightforward, inherently fair, and helps strengthen the principles of democracy and capitalism in this great country!!!!

[PublicEnemy#1]

[Racket]

[TJ_98370]

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KIRO 7 News Video:
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I like the the suggestion to do "Cash for Cluckers". A chicken in every pot type thing (watch the video).....
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[WestSideBilly]

[Ubersalad]

When the hell is there going to be bailout that I can use!

*#!& this @#$&!!!