Cash for Clunkers

I thought the combined mileage from the fueleconomy.gov site had to be LESS than 18. According to that site, my clunker gets 20 mpg (NOT) so it doesn't qualify eventhough the prius gets 50.

Am I wrong?

 

Yes, you are wrong. It is less than or equal to...
From cars.gov:
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

Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements

 

The "new" combined mileage from fueleconomy.gov has to be 18 OR less. If your clunker gets more than 18, it does not qualify.

 

Hi There- did you actually participate in the CARS program? I am in NC and my dealer is not "ready" yet. We have a vehicle that qualifies for the $4500 voucher. I'd like to know if there are any of you out there who have actually participated in the program, and how did it go? Has anyone gone through the process with a vendor who did not have vouchers yet, and if so, how was it handled?

Thanks so much-

2010 Prius on delivery truck RIGHT NOW, white IV w/ Nav!

 

Actually, Hampden is right, selling pieces other than the engine block and car body itself is allowed. Scrappers might make a killing.

 

While the details are not all in, we know that is not correct. A high value trade in (one with many sellable airbags and other parts) may encourage the dealer to give you a better deal or trade in but they do not have to do that. They may even have a fixed (stupid) deal with a scrapper where the scrapper makes the profit on good trade ins.

It is not your cube, you get $4500 (or $3500) from the dealer for it that the dealer got from the government. The dealer has to give you the full amount of the C.A.R.S. payment but could sell over MSRP or do other tricks.

 

Well, although technically they can turn down a car as a trade-in if it's not something they think they can sell, If you have a purchase contract signed with them they can't go back on their deal... can they?

Maybe you're seeing the whole situation too much from your own viewpoint. Would *you* accept a 10 year old car as partial payment for anything in a new car? Selling your car may be work, but it's not work you're doing for the dealer. Unless I'm mistaken, they didn't force you to buy the Nissan in the first place (the Toyota dealer, I mean). So basically, with all due respect, I think you're overreacting because of the sting that your Nissan isn't going to help you buy a new Prius. I understand and sympathize but I can't see how you blame the dealer for any of it.

I hope you find someone who really wants your Altima and gives you a good deal for it. I'd hate for you not to take advantage of CARS and miss out on your Prius for something that minor. Good luck!

 

I know that I also saw that about scrap value being negotiable at the CARS.gov website, either in the law or the first day notice. But the picture of the cube you bring to mind cracks me up! I bet if I took the "cube" and found a way to shove it into the Prius I would still get better mileage driving it around than I have been getting with my pre-cubed '02 express van clunker!

 

Why is that not correct? I actually think it is. According to CARS.gov the dealer must show you the best estimate of the scrap value and is allowed to keep $50 for administrative costs. What it doesn't say is who that scrap value goes to. So by that I assume it's negotiable. I would think a fair deal would be a 50/50 split or maybe 60/40 (dealer/seller) since they are the ones being inconvenienced by this. But another way to look at it is if the dealer doesn't like it, don't participate in the program.

 

rstark18-It is a NEGOTIABLE amount. Besides them getting to accept $50 for admin fees, the rest can be negotiated. That said, scrappage is not very much so good luck getting any more from them. Remember, this is a pretty big pain for dealers as they have to store them on the lot and then eventually transport a bunch to the scrap yard. Again, it's pennies per pound...this is not worth arguing for or even posting about in my opinion. But others may disagree. I didn't go after any on this.

helenhih2o-Where in NC are you? I'm in Raleigh. I just went and ordered a new car through Fred Anderson on Glenwood. They swear to me that they will do the vehicle exchange if it comes in early. He showed me the paperwork that must be filled out for CARS, so they must have everything ready to go. That said, I went to Leith on Capitol and they were clueless and said "no way are we doing it before July 24th."

So, it's absolutely at the dealer's discretion and RISK if they do deals and actually do the car exchange before the official start date. I did mine, though I didn't fill out paperwork or get the car yet. Again, he said it's about a week away... I'm looking forward to it.

 

So am I, the race is on! Whoever gets it first post here:

http://priuschat.com/forums/gen-iii...u-first-get-official-4500-cars-incentive.html

Good Luck!

 

NCKevin,
I'm going with Leith, and so far the dealer experience has been pleasant, and very efficient. My Prius is en route to the dealer, so we will be facing the CARS questions very soon, perhaps tomorrow. They've known about it from the get go. We may have to wait until the 24th, but I hope not!

 

Not to drag this out, but I have seen several people on this forum state that they agreed on a purchase price with their dealer and placed a deposit. When the car arrived, suddenly the dealer would not honor the agreement. I didn't want to sell the car, find out the price I agree on with the dealer suddenly changes and I am left carless, having just sold a reliable car.
I live 35 miles away from work. If I sell the car myself, I will have to walk to work 35 miles each way until the Prius comes in.
No, they didn't force me to buy the Nissan. That's not what I said and you know it. I'm not pining away for my lost Prius. Of all of the cars I have purchased over the years, the dealer has always taken my trade and given me trade-in value or higher. That was a service they used to offer to make it easier to buy a car from them. Okay, I get it. Dealers no longer do this, and I am unreasonable for thinking they would.

Good luck and congratulations to those of you who are able to partake of the program. It's a once in a lifetime opportunity! (Unless they decide to expand it in November)

 

We're given the scrap value? I thought we were advised of the scrap value to determine if it is more valuable as scrap then the program credit amount.

 

To be honest, it has never been spelled out. The wording says the buyer can use the scrap value to negotiate with the dealer. Honestly, it won't amount to much. I expect the scrapper will pay the value of the metal alone, but they will then be free to part out the car before crushing what remains.

 

Tom, you're correct. We're understanding that the scrappers will have the opportunity to scrap everything for re-use with exception of the drivetrain.

The gov. is mailing to dealers today a letter with further instructions for the CARS program. We expect to receive word on Monday and hope to be better prepared for the havok that will be 7/23- 7/24. I've got 8 cars contracted for customers now. Prius, Corollas, Camrys, Sienna.

This is a nice program and I am happy to say there are a couple familiys that will be buying a Corolla and will benefit from this program. Certainly I have customers paying cash for cars that are turning-in autos that obviously don't see much road time anymore.

 

All it means is that the dealer will receive any money paid to it by the salvage yard. By using that to negotiate you could tell the dealer you want that as well. I would be surprised if it was more than $200 and it is more likely to be $50. I read somewhere that clause was put in there to help the dealers cover their cost of administering the program.

G

 

my fiance and i are using her 2000 jeep cherokee for the $4500 voucher next week when we go pick up our 2010 prius II. we have had a deposit on one for about a month and have been in touch with our salesperson and everything is going well so far. i'll update when we get it (hopefully) on the 24th. if you look at the cars.gov website, it seems to indicate that you'll take your trade and paperwork in one day then the dealer will fax over the paperwork then 10 days later the dealer will get a credit. hopefully you won't have to wait those 10 days to take your new car home.

 

I seriously doubt that you will ever receive anything more than $50 for your scrapped car. And then the dealership gets to keep that $50. Why? Taxes. When the customer gets the benefit of the $4,500, the dealership has to call that income and therefore, has to pay taxes on that amount. That could be as much as $1,000. This program is so up in the air about how everything has to be disclosed, how we will get paid, what junkyards are eligible, what proof do we need as a dealer to show it has been scrapped, etc, that it will be a few days after the 24th until everyone is sure.

Jon, PM me if you get that letter from Cars.gov. I haven't heard of that yet..

 

Just an added piece of information for whatever it's worth. I am selling a car on craigslist for $500 and was contacted by a scrapyard who offered me $100 for it as is. I called them to verify it was a real offer and they said they are paying $100 and up for scrap prices. This is for a Geo Storm in the Portland, OR area. A large SUV should bring more than $100 and your geographical location will also have an effect. As mentioned earlier, scrap value isn't going to be much.