OT - Cash for Clunkers Program

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we are thinking about taking my hubby cars in for trade ,is 1998 chevy,in great condition,has well over 100,000 + miles,and its showing its age ,he loves that car ,but this sounds like a deal..but haven't a clue what we'd like to bring home.is it any car ,?
 
Re: OT - Cash for Clunkers Program

<a href=showthread.php?s=&postid=15541565#post15541565 target=_blank>Originally posted</a> by Dana19620
Car dealers are complaining that claims for rebates for the program are being denied. Yet I wonder how many dealers dealt with cars like that of my daughter's neighbor.

The neighbor had a Honda Fit (remember, these have only been in production since 2007 and get about 28 MPG city) they traded in. My daughter was furious when the neighbors told her it was traded under the cash for clunkers program as this was not the kind of car the program was set up for.

I wonder how many other dealers traded "junkers" like theirs and are now complaining that they are not getting their refunds due to "minor oversights" on the paperwork.

This program is total BS!!!!! This really ****es me off!!! My sister has a 15 year Honda accord and she was denied. But yet someone with a 2 year old car qualifies?!?!?! Efffing unbelievable!!!
 
CFC

CFC

Dana,

Your daughters friend either misunderstood the transaction or did not realize she made a terrible deal. Personally I think it's the latter and dealer is laughing and high-5ing in the back room.

In May a 2007 Honda Fit had a rough book/trade in value of about
$9000 and an avg trade of $10,000. I have no doubt she went in and asked about the CFC and the dealer said she would "qualify" for the $4500 trade figure- because she does. He can give her $4500 for it and not submit the CFC paper work- he knows it does not qualify for the program.

I can also promise you he did turn around and put it for sale on his lot for $13,000. Sooooooooo, she gave up about $5500 in trade equity and this will be talked about by the sales manager for months to come.

For all those who are mad like Fishgeek- don't be. This car is not on the scrap heap- it's in someone else's driveway right now.
 
Dux, that didn't even cross my mind. She told my daughter she traded it in under the clunker program, so we assumed the dealer lost out - never thought of him lying and reselling. Since my daughter lives in North Carolina and the closest city with car dealerships is 30 minutes away, the girl is unlikely to just happen to drive by and notice the car on the lot for sale.

Fishgeek - Dux must have been right. The dealer must have ripped the girl off. That's why her Honda qualified and your sister's did not. The dealer couldn't lie and turn a profit on your sister's car, he would have had to submit it under the program rules and would not have been reimbursed.

Too bad instead of bailing out banks, auto dealers, etc. the government just doesn't give a cash stipend to everyone under a set income level and let them help boost the economy by buying items they need.
 
cash4clunkers

cash4clunkers

<a href=showthread.php?s=&postid=15543813#post15543813 target=_blank>Originally posted</a> by Dana19620


Too bad instead of bailing out banks, auto dealers, etc. the government just doesn't give a cash stipend to everyone under a set income level and let them help boost the economy by buying items they need.

Our gov't did that a few years ago, under Prez.Bush. The stimulus checks made more sense IMO than these silly (& expensive) bailouts/stimulus plan/cash4clunkers programs. However, they still didn't help boost the economy.

One word: Reaganomics.
 
Re: cash4clunkers

Re: cash4clunkers

<a href=showthread.php?s=&postid=15544387#post15544387 target=_blank>Originally posted</a> by bthomas2000
Our gov't did that a few years ago, under Prez.Bush. The stimulus checks made more sense IMO than these silly (& expensive) bailouts/stimulus plan/cash4clunkers programs. However, they still didn't help boost the economy.

One word: Reaganomics.


Think about this people...........I mean i dont wanna sound like a crazy guy on the corner but if the goverment gave the people the money that they handed out to the banks we would all be super rich! but no were all doomed now lol im buying my own island :p
 
I mean come on!!!! My sister's car is 15 years old. It has over 200K miles on it. WHY in the H ELL does this not qualify???? It just doesn't make sense. It almost seems unfair.
 
Re: Re: cash4clunkers

Re: Re: cash4clunkers

<a href=showthread.php?s=&postid=15544455#post15544455 target=_blank>Originally posted</a> by jon luciani
Think about this people...........I mean i dont wanna sound like a crazy guy on the corner but if the goverment gave the people the money that they handed out to the banks we would all be super rich! but no were all doomed now lol im buying my own island :p

I agree with you, Jon. Bush's stimulus program money did not come close to what everyone would have received if they had split the bail-out money with the people.

Also, reef geek, if she had a gas guzzler she would have qualified - or if she had a car the dealer could rip her off on.
 
Re: Re: cash4clunkers

Re: Re: cash4clunkers

<a href=showthread.php?s=&postid=15544455#post15544455 target=_blank>Originally posted</a> by jon luciani
Think about this people...........I mean i dont wanna sound like a crazy guy on the corner but if the goverment gave the people the money that they handed out to the banks we would all be super rich! but no were all doomed now lol im buying my own island :p

Actually, Wall St bailout was about $750bill, GM was about $50bill (from what I've read). Divided by 305mill people, that's only $2,623/person.

Now, Obama's deficit on the other hand...much more.

Oh, another piece of news I just heard: many dealers are waiting on $100k to $1mm in rebate checks from the gov't. Anyone know if the customer is liable if the rebate is denied?
 
Yes, my family was just discussing that at dinner last night.

For those not informed about this, when an individual turned their clunker over, they sign an agreement that basically says if the government denies their rebate that they (the buyer) takes on the responsibility of paying back the funds they received under the program.

Our discussion hit on how this "responsibility clause" could lead to many people getting in over their heads leading to default and repossession of vehicles and adding to the financial crisis.

We also discussed how unscrupulous dealers could have used this to their own advantage by taking trade-ns under the program from individuals they felt were capable of paying the funds but did not really qualify just to sell a vehicle. If they did this with only a couple customers, it would be difficult to prove that it was not an honest error.

Hopefully misuse of the program will not send the economy into a further downward spiral.
 
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