Ares

figured id share was a good read with lots of info

'Cash for clunkers': Scammers are out - MSN Money


Though automakers and their dealers have been peddling cash-for-clunkers deals since the bill was signed last month, the hard sell really begins Monday.

The program offers owners of many older vehicles up to $4,500 to trade them for brand-new vehicles.

Regulators on Friday issued the final rules for the $1 billion program, unveiling a framework for registering dealers and a way to pay them once a car is proved to be scrapped. Though dealers may not file for payment until today, any sale since July 1 that otherwise meets the requirements (spelled out below) is covered.

zhillz

Its a great program.

cliffs. the car must get better gas millage then the old one. truck was 2mp for 3500 and 5mpg for 4500 rebate. Supposeduly Dodge will match the goverment. Im not sure if you have to buy a brand new car but im sure you can get a fucking sweet nice pre owned car for 9k
the also take the drive train for the car you trade in and DESTROY it then part out the rest of the car. This is to actually keep the gas guzzling motor off the road.

Ink

^ You do have to buy a new car.

The MPG average has to be under 18 mpg average according to fueleconomy.gov, you have to be able to prove the car has been registered and insured for 1 full year from the day of purchasing the new car, with no gaps in coverage, it has to be between a 1985 and a 2001. For a car, if it gets 4 mpg better, its $3,500. If its 6 mpg better, its a $4,500 rebate. Not many cars qualify at all. On top of the credit, the dealer has to pay you 'scrap value', which could amount to $100-$200, possibly more. On top of the clunker rebate (which is instant, not a send-in rebate), you do still get a tax credit against the purchase.

We sold 19 BMW's and 15 MINI's today, about half due to that program. The program does pay off if you qualify for it. How the trend is going, we estimated that the set amount the government put out to pay for the rebates, it will support for 250,000 new cars, so probably between 2 and 3 weeks before its over, or before they have to add more cash into the program.

_Charles_

I think the program sucks. I just inherited a vehicle that "almost" qualifies... but it hasn't been registered by me for the past year...so I can't trrade it in.

Out of curiosity, What type of paperwork is the dealer keeping to validate the "registraion and insurance" component?

JamesH

It sucks because it's designed to stop people from taking advantage of it? Not saying you are trying to but what about the people that would try to go buy POS cars for cheap just to get the cash for clunkers money towards the new car.

DEATH ZEPPELIN

it also sucks because theyre trying to get rid of salvage drivetrain and recycled auto parts all together.

_Charles_

The purpose of teh act is to get some older, less fuel effiecent vehicles off of the road...

I inherited a 1986 GMC Sierra 2500. I want a new Tahoe. Not now...guess I will keep my gas guzzler on the road!

Ares

ya i was also dishearten to find that out.. i bought a 1994 ford explorer that cost me about 60 bucks in gas a week i wanna trade it in for a nice lil four banger or a small six but iv only owned it 3 months or so

Graves

my '91 gt doesn't qualify at all

Prelude_!n_7h3_D!r7

does it cover moded vehicles that stock get 23 but now get 8