Cash-for-Clunkers = New FIT for me
#1
07-10-2009, 04:35 PM
Cash-for-Clunkers = New FIT for me
Hi, all.
Joined here many moons ago and just lurked about now and then. With Cash-for-Clunkers one of my '89 XJs is going to be going in towards a new fit for my corral 'o cars. The 'Green Monster' XJ might be worth $500 to someone who had been driking heavily before negotiations, so the $4,500 credit works out quite nicely for me.
The new FIT will be taking its place as a commuter and family light utility car (shopping, driving the boys across town to gymnastics). I've always liked the FIT and having another small Honda back in my garage is always nice.
Set to do the deal after it is finalized on the 24th. Trying to find a Sport/5MT/SSM, but just about only autos around. I don't mind the auto, but I'd like to have had a manual if possible.
See you around
Joined here many moons ago and just lurked about now and then. With Cash-for-Clunkers one of my '89 XJs is going to be going in towards a new fit for my corral 'o cars. The 'Green Monster' XJ might be worth $500 to someone who had been driking heavily before negotiations, so the $4,500 credit works out quite nicely for me.
The new FIT will be taking its place as a commuter and family light utility car (shopping, driving the boys across town to gymnastics). I've always liked the FIT and having another small Honda back in my garage is always nice.
Set to do the deal after it is finalized on the 24th. Trying to find a Sport/5MT/SSM, but just about only autos around. I don't mind the auto, but I'd like to have had a manual if possible.
See you around
#4
07-10-2009, 05:40 PM
Hey, now. "Free Money" is free money...particularly since I can't go 18 months without swapping something out of the corral.
But yes, thanks all for your tax contributions to my new Fit.
If it wasn't against the CFC "rules", I'd take my other XJ down and trade it in as well for something else (after putting OE parts back on it).
But yes, thanks all for your tax contributions to my new Fit.
If it wasn't against the CFC "rules", I'd take my other XJ down and trade it in as well for something else (after putting OE parts back on it).
#7
07-11-2009, 03:53 PM
It really is amazing how many salesmen know 'NOTHING' about the CARS (aka Cash-for-clunkers) program. Again, last night more Honda salesmen stading about the showroom shrugging at each other. It is a sad day when they ask me to send them the web address for the program.
www.cars.gov
www.cars.gov
#8
07-11-2009, 04:47 PM
Hi, all.
Joined here many moons ago and just lurked about now and then. With Cash-for-Clunkers one of my '89 XJs is going to be going in towards a new fit for my corral 'o cars. The 'Green Monster' XJ might be worth $500 to someone who had been driking heavily before negotiations, so the $4,500 credit works out quite nicely for me.
The new FIT will be taking its place as a commuter and family light utility car (shopping, driving the boys across town to gymnastics). I've always liked the FIT and having another small Honda back in my garage is always nice.
Set to do the deal after it is finalized on the 24th. Trying to find a Sport/5MT/SSM, but just about only autos around. I don't mind the auto, but I'd like to have had a manual if possible.
See you around
Joined here many moons ago and just lurked about now and then. With Cash-for-Clunkers one of my '89 XJs is going to be going in towards a new fit for my corral 'o cars. The 'Green Monster' XJ might be worth $500 to someone who had been driking heavily before negotiations, so the $4,500 credit works out quite nicely for me.
The new FIT will be taking its place as a commuter and family light utility car (shopping, driving the boys across town to gymnastics). I've always liked the FIT and having another small Honda back in my garage is always nice.
Set to do the deal after it is finalized on the 24th. Trying to find a Sport/5MT/SSM, but just about only autos around. I don't mind the auto, but I'd like to have had a manual if possible.
See you around
You know the XJ has to be running ok, inspected if applicable and wasn't rated overall at more than 18 mpg. What is the official EPA average between city and highway? If the rating is based on the 'old' EPA ratings listed then for the XJ6 it was 19 mpg. You need to find out if the old or revised ratings apply. My copy of the bill says nothing about which rating is accepted.
Last edited by mahout; 07-11-2009 at 05:02 PM.
#9
07-12-2009, 08:49 PM
Join Date: Dec 2008
Location: West Coast, USA
Posts: 1,448
You know the XJ has to be running ok, inspected if applicable and wasn't rated overall at more than 18 mpg. What is the official EPA average between city and highway? If the rating is based on the 'old' EPA ratings listed then for the XJ6 it was 19 mpg. You need to find out if the old or revised ratings apply. My copy of the bill says nothing about which rating is accepted.
How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). Your dealer can help you determine whether you have an eligible trade in vehicle.
Your trade-in vehicle must
- have been manufactured less than 25 years before the date you trade it in
- have a "new" combined city/highway fuel economy of 18 miles per gallon or less
- be in drivable condition
- be continuously insured and registered to the same owner for the full year preceding the trade-in
- The trade-in vehicle must have been manufactured not earlier than 25 years before the date of trade in and, in the case of a category 3 vehicle, must also have been manufactured not later than model year 2001
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
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***have a "new" combined city/highway fuel economy of 18 miles per gallon or less***
------
How do I find out the combined city/highway fuel economy rating of my trade-in vehicle?
Go to Side-by-Side Comparison and click on the model year of your vehicle, the make, and then the model. Under the words "ESTIMATED NEW EPA MPG" in the red banner, there is a red number with the word "COMBINED" under it. That is the new combined city/highway fuel economy for your vehicle. You may then enter the make, model, and model year of a new vehicle you may want to buy and see its combined MPG for comparison.
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#10
07-12-2009, 09:12 PM
Join Date: Dec 2008
Location: West Coast, USA
Posts: 1,448
It really is amazing how many salesmen know 'NOTHING' about the CARS (aka Cash-for-clunkers) program. Again, last night more Honda salesmen stading about the showroom shrugging at each other. It is a sad day when they ask me to send them the web address for the program.
www.cars.gov
www.cars.gov
Cash For Clunkers Information Guide - Official Honda Site
They give a link to the main page of CARS, but as far as I can see, there is NO listing of participating dealers. And the dealers MUST be registered as participants.
If they are not registered, then there is no credit. No $3,500 or $4,500 credit to them, so buyers won't get that for their car.
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How do I know if a dealer is participating in the program?
The law requires dealers to be registered to participate in the program. We will be moving as quickly as possible to register interested dealers as soon as the registration process begins in the near future. As dealers are registered, we will list them on this website. We will continue to update this list during the life of the program. Meanwhile, you may wish to contact dealers in your area to ask whether they plan to participate in the program. The CARS Act requires that dealers be licensed by their respective state for the sale of new automobiles in order for them to participate in the program.
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
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#11
07-12-2009, 09:21 PM
Hey I'm also looking to take advantage of the clunkers program and get a new Fit. I paid $5000 for my clunker way back so if I can get $4500 for it many miles and years later, it's a no brainer. Especially if it means getting a new Fit! How did it go bringing this up with the Honda dealers you visited? Good luck!
#12
07-12-2009, 09:33 PM
From the FAQ section of the CARS official site:
How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). Your dealer can help you determine whether you have an eligible trade in vehicle.
Your trade-in vehicle must
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
------
***have a "new" combined city/highway fuel economy of 18 miles per gallon or less***
------
How do I find out the combined city/highway fuel economy rating of my trade-in vehicle?
Go to Side-by-Side Comparison and click on the model year of your vehicle, the make, and then the model. Under the words "ESTIMATED NEW EPA MPG" in the red banner, there is a red number with the word "COMBINED" under it. That is the new combined city/highway fuel economy for your vehicle. You may then enter the make, model, and model year of a new vehicle you may want to buy and see its combined MPG for comparison.
------
How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). Your dealer can help you determine whether you have an eligible trade in vehicle.
Your trade-in vehicle must
- have been manufactured less than 25 years before the date you trade it in
- have a "new" combined city/highway fuel economy of 18 miles per gallon or less
- be in drivable condition
- be continuously insured and registered to the same owner for the full year preceding the trade-in
- The trade-in vehicle must have been manufactured not earlier than 25 years before the date of trade in and, in the case of a category 3 vehicle, must also have been manufactured not later than model year 2001
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
------
***have a "new" combined city/highway fuel economy of 18 miles per gallon or less***
------
How do I find out the combined city/highway fuel economy rating of my trade-in vehicle?
Go to Side-by-Side Comparison and click on the model year of your vehicle, the make, and then the model. Under the words "ESTIMATED NEW EPA MPG" in the red banner, there is a red number with the word "COMBINED" under it. That is the new combined city/highway fuel economy for your vehicle. You may then enter the make, model, and model year of a new vehicle you may want to buy and see its combined MPG for comparison.
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My copy of the bill says only American cars and trucks manufactured between 1984 and 2007, pg 17 lines 10-12.; nothing about 25 years. Only 2008 and later vehicles are buyable, same place.
Depending on mpg increase you can get $3500 or $4500 trade-in value.And yes, trucks are different.
The real problem is financing. With the current finance requirements many of the guzzler owners won't be able to finance. And with the 1 year ownership, insurance, and driveability limit those owners won't be able to sell their guzzler to someone who can use it so both can profit.
Some dealers are expecting writing high intetrest loans for great kickbacks before the other law limiting such kickbacks is passed. Its no free lunch.
Last edited by mahout; 07-12-2009 at 09:52 PM.
#13
07-12-2009, 10:01 PM
Join Date: Dec 2008
Location: West Coast, USA
Posts: 1,448
The bill states that the NEW EPA ratings apply, pg 17 line 8. Check 'fueleconomy.gov' website of EPA.
My copy of the bill says only American cars and trucks manufactured between 1984 and 2007, pg 17 lines 10-12.; nothing about 25 years. Only 2008 and later vehicles are buyable, same place.
Depending on mpg increase you can get $3500 or $4500 trade-in value.And yes, trucks are different.
The real problem is financing. With the current finance requirements many of the guzzler owners won't be able to finance. And with the 1 year ownership, insurance, and driveability limit those owners won't be able to sell their guzzler to someone who can use it so both can profit.
Some dealers are expecting writing high intetrest loans for great kickbacks before the other law limiting such kickbacks is passed. Its no free lunch.
My copy of the bill says only American cars and trucks manufactured between 1984 and 2007, pg 17 lines 10-12.; nothing about 25 years. Only 2008 and later vehicles are buyable, same place.
Depending on mpg increase you can get $3500 or $4500 trade-in value.And yes, trucks are different.
The real problem is financing. With the current finance requirements many of the guzzler owners won't be able to finance. And with the 1 year ownership, insurance, and driveability limit those owners won't be able to sell their guzzler to someone who can use it so both can profit.
Some dealers are expecting writing high intetrest loans for great kickbacks before the other law limiting such kickbacks is passed. Its no free lunch.
CARS.gov - Car Allowance Rebate System - Home - Formerly Referred to as “Cash for Clunkers”
Important Things to Know
- Your vehicle must be less than 25 years old on the trade-in date
- Only purchase or lease of new vehicles qualify
- Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
- Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
- You don't need a voucher, dealers will apply a credit at purchase
- Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
- The program requires the disposal of your eligible trade-in vehicle and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
You Asked and We Listened
Thanks for your interest in CARS.gov and the Car Allowance Rebate System. We have collected all your questions and are preparing new FAQs to answer as many of them as we can. Keep in mind that we are still in the process of finalizing the rule for the CARS program. There are questions we will not be able to answer until the rule is final, which will be on July 24.
In the meantime, please visit our FAQs, for answers to the most commonly asked questions. We are updating the website as information becomes available, so check back often.
#15
07-12-2009, 10:09 PM
Join Date: Dec 2008
Location: West Coast, USA
Posts: 1,448
The real problem is financing. With the current finance requirements many of the guzzler owners won't be able to finance. And with the 1 year ownership, insurance, and driveability limit those owners won't be able to sell their guzzler to someone who can use it so both can profit.
Some dealers are expecting writing high intetrest loans for great kickbacks before the other law limiting such kickbacks is passed. Its no free lunch.
What does the financing have to do with eligibility for the program? That's completely separate from the program, there is no guarantee of financing being available.
And what do you mean "both can profit"? You mean selling a clunker to someone and making money on it, and then that person trading it in? The point of the program is to get people out of cars they actually own and have been driving for at least a year.
Doing what you suggest is fraud.
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
As noted above, at the time of the transaction at the dealer, the consumer who is trading in the "trade-in vehicle" will need to provide evidence of ownership of the vehicle and proof that the vehicle has been continuously registered and insured to the same person throughout the last 12 months. To prevent repeated use of the program by the same person, we anticipate that the consumer will need to provide evidence of identity, such as a driver's license, and permit that information to become part of the documentation of the transaction.
The dealer will have every reason to avoid entering into a transaction for which the dealer cannot be reimbursed under this program. The dealer will be expected to verify that the vehicle being traded in and the vehicle being purchased or leased are both eligible under the program. This will entail, with regard to the trade-in, making sure that the registration and insurance information is accurate and that the vehicle is in drivable condition. For both vehicles, the dealer will need to verify their combined fuel economy.
The CARS Act has provisions specifically aimed at preventing fraud. A person who violates the Act or the implementing regulations could be subject to a fine of up to $15,000 per transaction.
#16
07-12-2009, 10:22 PM
From what I have read, the whole purpose of this program is to a) get guzzlers off the road and b) to increase new car sales. The dealer doesn't keep the clunker getting turned in, it's supposed to be destroyed into scrap metal.
#17
07-13-2009, 01:37 AM
Join Date: Dec 2008
Location: West Coast, USA
Posts: 1,448
Not only will our purchases of new (less polluting) vehicles help cut back on what you see, but it should reduce costs for fuel. And reduce dependence on foreign sources of fuel.
Why show China? You do know that due to the way the wind travels that the west coast of the U.S. gets the Chinese pollution...Here's an article when it was first noticed:
Donner Summit air station detects Chinese pollution | SierraSun.com
Likewise, pollution doesn't stop at state boundaries. If it can travel 5-6,000 miles across the ocean, it can make jump across states.
Get the most you can out of your dollar. Drive less. Drive a hybrid. Drive a high-mileage car. Yes, I do care about pollution. No, I can't justify the cost of the Prius based on my driving habits.
ALL of this matters. It should matter to everyone. Because what everyone else does, affects everyone else...LOL...got facemasks?
#18
07-13-2009, 08:05 AM
I'm confused about this...
What does the financing have to do with eligibility for the program? That's completely separate from the program, there is no guarantee of financing being available.
And what do you mean "both can profit"? You mean selling a clunker to someone and making money on it, and then that person trading it in? The point of the program is to get people out of cars they actually own and have been driving for at least a year.
Doing what you suggest is fraud.
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
As noted above, at the time of the transaction at the dealer, the consumer who is trading in the "trade-in vehicle" will need to provide evidence of ownership of the vehicle and proof that the vehicle has been continuously registered and insured to the same person throughout the last 12 months. To prevent repeated use of the program by the same person, we anticipate that the consumer will need to provide evidence of identity, such as a driver's license, and permit that information to become part of the documentation of the transaction.
The dealer will have every reason to avoid entering into a transaction for which the dealer cannot be reimbursed under this program. The dealer will be expected to verify that the vehicle being traded in and the vehicle being purchased or leased are both eligible under the program. This will entail, with regard to the trade-in, making sure that the registration and insurance information is accurate and that the vehicle is in drivable condition. For both vehicles, the dealer will need to verify their combined fuel economy.
The CARS Act has provisions specifically aimed at preventing fraud. A person who violates the Act or the implementing regulations could be subject to a fine of up to $15,000 per transaction.
What does the financing have to do with eligibility for the program? That's completely separate from the program, there is no guarantee of financing being available.
And what do you mean "both can profit"? You mean selling a clunker to someone and making money on it, and then that person trading it in? The point of the program is to get people out of cars they actually own and have been driving for at least a year.
Doing what you suggest is fraud.
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”
As noted above, at the time of the transaction at the dealer, the consumer who is trading in the "trade-in vehicle" will need to provide evidence of ownership of the vehicle and proof that the vehicle has been continuously registered and insured to the same person throughout the last 12 months. To prevent repeated use of the program by the same person, we anticipate that the consumer will need to provide evidence of identity, such as a driver's license, and permit that information to become part of the documentation of the transaction.
The dealer will have every reason to avoid entering into a transaction for which the dealer cannot be reimbursed under this program. The dealer will be expected to verify that the vehicle being traded in and the vehicle being purchased or leased are both eligible under the program. This will entail, with regard to the trade-in, making sure that the registration and insurance information is accurate and that the vehicle is in drivable condition. For both vehicles, the dealer will need to verify their combined fuel economy.
The CARS Act has provisions specifically aimed at preventing fraud. A person who violates the Act or the implementing regulations could be subject to a fine of up to $15,000 per transaction.
First, you have to actually buy a 08 or 09 car to get the 'credit' and that means you must have financing of the buy or lease. Eligibility is not getting the credit. And there are limitations on what you can buy beyond the mpg improvement.
And you cannot sell the eligible car for $2000 to someone else who gets $4500 for trading so the trader gets $4500 less the $2000 he paid the owner. Both would then profit. As we both said, you cannot do that because the bill says its illegal. Otherwise it would likely happen a lot. That will stop many clunkers from being removed from the road.
#19
07-16-2009, 11:44 AM
It really is amazing how many salesmen know 'NOTHING' about the CARS (aka Cash-for-clunkers) program. Again, last night more Honda salesmen stading about the showroom shrugging at each other. It is a sad day when they ask me to send them the web address for the program.
www.cars.gov
www.cars.gov
AMEN!
Warner
#20
07-16-2009, 11:48 AM
quote
First, you have to actually buy a 08 or 09 car to get the 'credit' and that means you must have financing of the buy or lease. Eligibility is not getting the credit. And there are limitations on what you can buy beyond the mpg improvement.
And you cannot sell the eligible car for $2000 to someone else who gets $4500 for trading so the trader gets $4500 less the $2000 he paid the owner. Both would then profit. As we both said, you cannot do that because the bill says its illegal. Otherwise it would likely happen a lot. That will stop many clunkers from being removed from the road.
First, you have to actually buy a 08 or 09 car to get the 'credit' and that means you must have financing of the buy or lease. Eligibility is not getting the credit. And there are limitations on what you can buy beyond the mpg improvement.
And you cannot sell the eligible car for $2000 to someone else who gets $4500 for trading so the trader gets $4500 less the $2000 he paid the owner. Both would then profit. As we both said, you cannot do that because the bill says its illegal. Otherwise it would likely happen a lot. That will stop many clunkers from being removed from the road.
Since owning and insuring the car for the past 12 consecutive months is one of the requirements, this won't happen. HOWEVER, you could always buy the new car and then right away sell it to the person who was going to trade your "clunker" in....although that's messy and the chances of it happening are fairly remote.
Warner