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Anyone trade in their clunker for cash on a new car yet?


jacksonbart

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Here's some inside info from someone in the business. 2 groups will benefit from this program. People with borderline credit will be ushered into a dead inventory model at an inflated sticker price with a high interest rate. but they will get a new car- provided that they can prove that they have some chance of making the payments. People with good credit will be welcomed if they are trading into a vehicle with a decent margin such as a loaded SUV or a luxury sedan- like the CTS. On the other hand if you have good credit and are trading into a mid grade pickup or a small SUV with minimal profit- you may get the bums rush.The low margain deals get pushed to the back of the line. Not to say that you will not get your car but the dealer is not going to do backflips to close the deal. The dealers - as expected are full of financing traps and tricks and are out to maximize their score on this program. Anyone looking to take advantage should do some seroius homework before going ot the car lot. Watch for scams.

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Anyone looking to take advantage should do some seroius homework before going ot the car lot. Watch for scams.


Good advice. You always need to keep your eyes open and never assume the deal is as good as it looks. Really, though, I wonder if it was ever any different?
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Tried to. Visited Honda dealer on saturday 7-25. I wanted an orange Honda Fit Sport, but had none in stock. I gave them the choice of 3 colors, but after one callback on the 29th, salesman said they were still looking. In the meantime, CARS funds were in jeopardy til yesterday. I have not called back and may just end up waiting. The OTD price from Edmunds.com forums to look for was $17500 not including the discount of 4500. But the best I could do was $18250. I do not need a car in the summer, as I am close to work and can either bicycle or motorcycle to & fro.

So, my '89 Nissan Pathfinder (15mpg) continues to rust out in the driveway with a dying battery. We have excellent credit but are only interested in Honda's so-called "cheap" economy car, so I do think we're way down on the list for the sales dept to help us out.

I will only follow thru on the deal if I get the color I want, otherwise we wait for the 2010's to come out and decide if we go that route or spend $5000 on a used car to last us for a few years.

NP - Golden Earring (Live @ Wolfgangs Vault)

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If you had $hitty credit where they could screw you- you would have received a call. They will not sell you that vehicle under this program. No home run ball in it for them. They are "placing " high demand cars with maximized profit customers. I have 2 freinds that are in the exact same situation. Switch over to a loaded Pilot and they will change their tune.They can sell every fit sport on the lot to bc customers and get 14%-19% financing fron a second tier lender and make a nice comish on the deal. A few years down the road- mny of these sales will be repos. A customer of mine sold his other car to take advantage of this program- buying a lightly equipped 4 x 4 Ford truck in the mid 20s- same as you - has not heard a word. One of my business friends traded an old Jeep for a maxed out tahoe hybrid-deal done in 2 days.

Presently company and friends excluded- I really hate car dealers.

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My head is tired of spinning... I can't believe what I am hearing on the news anymore.

I may have to trade my Jeep 4 x 4 in because I can't fix the "death wobble". There is nothing wrong with that beautiful big block engine at 170Kmiles but my wife doesn't want to drive it with the shimmy. I have replaced or had someone else replace every component on that front end but still no luck.

I am seeing now that congress is trying to pass a deal where they buy $550 million jets (7 jets) so that they can tool around the country in style. Is there a sense of urgency to our "leaders" that we are in a recession? What really takes the cake is that they want to stick this in a military defense budget while they are cutting other actual defense programs. Can you say self serving?"

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Prof- If you are talking a Wrangler style Jeep check with the 4 x 4 specialty shops on that wobble and also the possibility of parting it out rather than trading.

The jets for congress thing is amazing. As for the news..I wholeheartedly agree..will leave at that....would guess that I am on my 3rd strike...we sing from the same sheet of music

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Does anyone besides me think it is really, really wrong for our Government to give the general public money to buy a foreign car? Just how does that boost our economy in the long run? I understand that if the car was built in the U.S. the factory worker would get paid, but all the profits go back to the mother country of the company-either Japan or Korea for the most part. I don't know about the rest of you, but I think that since the Government owns a good chunk of G.M. and Chrysler, they would want Americans to buy American cars and keep the money stateside. I know, I'm just another spoiled G.M. worker who isn't in touch with reality. Our economy is doing fine...

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Heres my take...I have a problem with the govt giving my taxpayer cash to any particular industry- be it banks- car companies-or whatever.They have not helped the specailty metal business..my industry... ... quite the contrary.. cutting defense programs to buy votes with social agendas.

I am against the whole progam as a BS scam to help an industry that the govt now has majority ownership in due to hostile takeover

I have bought 2 cars in the last 2 years.. 1 porsche.. 1 GM tahoe. Not for any reason other than that they were the best choice for the money and my purposes. If the govt is going to give money away to help the industry that they now own.. fair is fair.. let the consumer decide and pick the best choice.

Note .. I have driven GM trucks since the 70s so I have no axe to grind.

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I really don't want to get rid of it because it is a tiger in the jungle. Too bad it is a basket ball on the hardtop. It is a grand cherokee. Texas truck I bought on ebay in 2001. Gee I am getting old...anyway there is nothing really wrong with it other than you have to replace the tranny& diff's every 20k miles. It is a blast to drive in the bush though!

My latest thought OT...If you aren't angry, you are not paying attention!

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Another interesting twist on this clusterwhack. A guy from the club tried to buy a MB using the program. The dealer was not willing to sell the vehicle for 45k or less so the deal did not qualify.Another friend bought a Hybrid tahoe so the vehicle was heavily discounted-they are not selling well here- or else the dealer made a mistake, This whole program is a joke.

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Win21 sez "People with borderline credit will be ushered into a dead inventory
model at an inflated sticker price with a high interest rate. but they
will get a new car- provided that they can prove that they have some
chance of making the payments."

GREAT, maybe we can bail them out later when they can't make the payments. Sound familiar?

Who came up with this idiotic plan anyway?

M

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You guys crack me up. One minute you bash the gubmint for spending tax payer $$$ on programs that will allow people to buy "foreign cars" then turn around and bash them for spending tax payer $$$ on business jets that are MADE IN THE USA WITH MATERIALS SOURCED IN THE USA BY FOLKS WHO PAY USA TAXES. Sheesh......

And just what the heck is a "foreign car"?? MB? BMW? Honda? Nissan? et.al.....they're made in the states. Many GM & Ford's are made in or sub-assembled in Canada & Mexico. The money goes back to foreign countries? True, but only to be turned around and invested here in either building more plants or.......BUYING OUR FRIGGIN' DEBT. I suggest to you there is no longer such a thing as a "foreign car"

Anywho, I'm trying to steer my Dad towards the CTS. Honestly, he's not the typical buyer looking for a "deal" with this cash-for-clunkers thing. He just needs a nice vehicle, he can pay cash and price is not important to him since he's 88 and has a decent nest egg. Besides.....he probably won't be driving too many years into the future - hence my urging to buy the CTS. It's that inheritance thing. (insert evil laugh) [6]

Tom

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Guest David H

There are alot of positive aspects to the cash for clunkers program, but as with anything there are faults. Most of the faults described here are with the idiots doing the trades and making the deals at the dealer level. The cash for clunkers program is specifically outlined, and is easy to follow. The SoCal dealer I work for has taken in over 70 clunkers, and only had an issue with one.

The program may have downfalls, and drawbacks, and I am dissapointed none of my vehicles qualify. But tell me, what is worse? Bailing out the auto companies straight cash, or offering an incentive program that takes these gas hogs off the road, and gives Americans a huge helping hand into getting a new vehicle.

The cash for clunkers program is genuine and in my mind makes sense.

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Dont understand why they dont give the dam clunkers to the really poor people who need a car to get back and forth to WORK????

Crushing seems stupid to me if they are driveable. What about all of the parts houses and tire manufacturers who support clunker

typical govt program.

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