Comments on: CASH FOR CLUNKERS: IS IT FOR YOU?

By: One of the Few

One of the Few — Wed, 29 Jul 2009 15:22:46 +0000

Reading through the comments I figure I drop an example of where the program worked out. I have a 2000 Mazda MPV with 272000 miles on it. It runs well but surely it’s at the end of it’s lifespan. Didn’t really think about getting rid of it because it’s worth less than 1000 bucks for sure (didn’t check). It has 18 mpg and qualifies for the program (ie registered,running,insured for past year. After searching for a replacement candidate the Mazda 5 was perfect for us. It’s smaller but still seats 6 and is classified as a mini van with 23 MPG. So i get the full 4500 plus any dealer incentives. My cost from the dealer was 19000 minus 4500 minus 2000 in loyalty and dealer incentives (marketing dollars not posted) = $12500. You can even finance that amount for 36 months at .9% – i am averse to debt but it was tempting. (i paid outright).

Yes you can find a used 3/4 year car for 12 grand, but it would be out of warrantee in this case and very hard to find a brand new dealer car for that much that seats 6. For me the deal seems to work.

By: -> The Cash For Clunkers Vehicle Trade-In Program Can Give You Up To $4500 Off Your New Vehicle Purchase Or Lease | Bible Money Matters

Wed, 22 Jul 2009 15:29:10 +0000

[...] Cash For Clunkers Program is slated to take effect as of July 1, 2009, however, it still needs to be signed into law by [...]

By: Red Oscar

Red Oscar — Fri, 17 Jul 2009 11:24:43 +0000

Personally, I was looking forward to using my 1992 Acura with 170,000 miles as a trade-in under the CARS program. It truly is a clunker and will soon need nearly $1000 in maintenance work to keep running. But alas, it gets too high fuel mileage and does not qualify. I have the cash available so financing is not an issue. Still, I am pretty miffed about the rules of the program. I can only hope that in November the program get modified so I can participate. If not, I guess I will have the work done (replace timing belt before it breaks) and drive it for another 100,000 miles.

By: Peter

Peter — Thu, 16 Jul 2009 12:33:39 +0000

I just can’t see how this program is going to be effective at it’s goals. From one report I read less than 5% of the cars on the road would even be eligible, and of those, an even smaller number were owned by people who would even consider buying a new car right now. The others were either happy with their old clunker, or are probably lower income and can’t afford a new car anyway.

Buy a used car, and make payments to yourself to buy your next one. You’ll save more money that way!
Peter´s last blog ..Common Questions About The Cash For Clunkers Program Answered: Gas Guzzler Rebate FAQ

By: FFB

FFB — Thu, 16 Jul 2009 12:09:48 +0000

It seems that there’s more benefit if you were already looking to get a new car. I guess we’ll see how much effect this program has to either stimulate the economy or help the environment.
FFB´s last blog ..A Goal Based Approach To Debt Management