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Cash for Clunkers - Does it Work for You?

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Comments

  • imidazol97imidazol97 Member Posts: 27,675
    >only going by what Obama is saying.

    There's a problem. Says whatever is convenient at the time.

    2014 Malibu 2LT, 2015 Cruze 2LT,

  • kdhspyderkdhspyder Member Posts: 7,160
    Your processing dept might need some attention.

    Half of our 150 C4C sales have been approved for payment. The rest we are in the process of inputting. We've actually been paid on the all the units sold from the 27th to the 30 thus far.

    This Monday will be telling. That's when the huge deluge from last weekend will negin to come due.
  • patti11patti11 Member Posts: 11
    I agree with you in that buyers are at the mercy of the dealer under this legislation and customer satisfaction is not in the dealer's mindset. It reminds me back in 2002 when I bought a house. Sealed bidding with thousands of dollars over the asking price along with lines out the door for an open house. It was as though they were giving it away.... same with the C4C program. Buyers are at the mercy of the dealers with the C4C program and sit in limbo awaiting word if they have been approved or not. Consumers are spending a great deal of money, and no doubt, have mixed emotions from excitement, stress and anger, as to why one has to wait so long for approval with no information given to them as to whether they qualify or not. Consumers and dealers deserve better than this and the approval/rejection should have been instant through the dealerships and processed on site had more thought been injected into this program prior to its onset.
  • gagricegagrice Member Posts: 31,450
    In CA your current registration must be in your car. I suppose if you are the only driver your wallet would be fine. I just keep stacking them up in the glove compartment. Not for any reason other than not liking to throw any legal document away. My point being, you may lose out on this deal by tossing your old registration. Now I am glad I do that as I may yet trade in my old PU Truck.
  • dmdcashdmdcash Member Posts: 15
    I guess I just don't understand. We were approved right away and could have had the car immediately if not for a glitch with our title not showing having the lien released. Once that was cleared up, we drove off with the car. I think certain dealers are skittish about letting people drive off while most I have heard of are doing the deals and letting people take their cars right away.
  • skilauskilau Member Posts: 26
    I think you are both wrong! :P

    I was one of the first at my dealership to be approved. The dealership was an average sized dealer, definitely not one of the larger ones here in the Twin Cites.

    They had also STOPPED advertising the C4C stuff on their web site on that Thursday when it looked like all the money was gone.
    (Not sure if this means they also stopped doing deals for C4C as well)

    When I got approved this Monday, and went to pick up my car, we had to wait a bit for my salesman to finish up things.

    We got a look at the C4C book they had, where they had listed the model + miles of each clunker...
    They had about 40 C4C deals booked, and l suspect they had even more that hadn't been written in the book yet.
    (Lots of trucks and SUVs, just like the Feds numbers have shown!)

    If we do the math "per dealer", it should be about 35-40 deals per dealer now with 3 billion in the program.

    So even with the new cash flowing into the program, those 40 clunkers would have maxed out the allocation for that dealer.

    And my dealer was at best, your average sized dealer.

    One of the biggest dealers in the Twin Cites, Walser, has mentioned in the news last week, that they have 200+ C4C deals waiting for approval.
    (As the dealer was complaining about how slow the approvals were coming back in)

    This means they have eaten up at least 5 or 6 dealers worth of allocations, even with the 3 billion now.

    I am just not convinced that there really is that much money left in the program's coffers.

    I actually had hoped the 2 extra billion would have been delayed for a couple weeks, to allow the C4C to work through the backlog, and so as to get a better picture of what was done that first week.
  • joel0622joel0622 Member Posts: 3,299
    You were not approved, it is just that your dealer is handling it the same way we are. We are trusting the program. It says that if the consumer meets a certian set of rules then the claim will be paid. We are trusting the program and delivering the car the same day the consumer meets all the requirements. We have done about 70 so far.

    I am so glad (right now) that we did not hold the cars. We would not have the time to field all the calls on people wanting to know if there claim is approved.
  • british_roverbritish_rover Member Posts: 8,502
    Been paid yet on anything Joel?

    I meant to ask our comptroller yesterday if we had been paid yet but I never saw him. I figure we have to get some payments Monday or Tuesday though. Seems like most dealers I have talked to are getting paid in 10 days from the submission/acceptance date just like the program notes say.
  • fastsvofastsvo Member Posts: 36
    and these guys are full of it. It should be considered as a regular sale and on top of they lied by saying no incentives exist for the Civic Si....come home, check on Edmunds and viola, AHM is offering $1,500 back to the dealer on top of their holdback and flooring costs.
  • dmdcashdmdcash Member Posts: 15
    That's kind of what I was inferring, I guess it's totally up to the dealers. And I agree with you, I'm sure it's busy ENOUGH with people calling in regarding BUYING cars now, then to throw in people who BOUGHT the car and are waiting to come in and pick up? That would be an UGLY situation.
  • joel0622joel0622 Member Posts: 3,299
    Not yet, have got some rejections on the first 10 or so we did becasue of a mistake I made. I did not know I had to write "JUNK AUTOMOBILE CARS.GOV" on the front and back of each title.

    Unfortunatley I became the clunker claimer for the dealership by default. I have a scanner and know how to upload documents so that made me Clunker Claimer Qualified" :D
  • joel0622joel0622 Member Posts: 3,299
    Talk to you all later, its 11:05 am here in Mt juliet TN and the show room is full already with people on a clunker quest. Talk to ya later.

    We are going to run out of cars long before we run out of customers. :cry:
  • british_roverbritish_rover Member Posts: 8,502
    Unfortunatley I became the clunker claimer for the dealership by default. I have a scanner and know how to upload documents so that made me Clunker Claimer Qualified"

    Ah that's how I got roped into doing internet sales.Sometimes I would prefer not to do internet sales as it is only a couple extra sales a month and the people are so painful. But I can type fast and am internet/email savvy so here I am.

    Good luck with your clunker sales today. I figure we will run out of cars by the end of the month. We have a few more cars on the way in so maybe we won't but I think we will.
  • buckybadgerbuckybadger Member Posts: 3
    How was the dealer able to get it to work? we were told that if it is not on the list there is nothing the dealer can do
  • jipsterjipster Member Posts: 6,296
    Talk to you all later, its 11:05 am here in Mt juliet TN and the show room is full already with people on a clunker quest. Talk to ya later.

    We are going to run out of cars long before we run out of customers

    Good point, and mentioned here before. With a dwindling supply of Fusions, I'm assuming the cost for consumers will increase? Any movement by dealership on shooting for higher prices with lower inventory. How much? NOW you can get back to work. ;)
    2021 Honda Passport EX-L, 2020 Honda Accord EX-L, 2011 Hyundai Veracruz, 2010 Mercury Milan Premiere.
  • fatehsinghfatehsingh Member Posts: 1
    Hello everyone i am completely new to this forum.
    Interested in learning many new things. Hope we all will share our
    knowledge and talk about different concepts in this forum.

    Thanks for post. It’s really informative stuff.
    I really like to read.Hope to learn a lot and have a nice experience here! my best regards guys!

    fatehsingh ;)
    ========
    Ford f250--Ford f250
  • joel0622joel0622 Member Posts: 3,299
    We have never gouged anyone and we won't start now. You will not get a invoice or back price on one, mention hold back and you will probably be politely excused, but we are not slapping adendums on them either. We are just meeting in the middle some place.

    Whats funny is that at Christmas time when the latest Elmo doll is bringing big bucks due to supply and demand people don't bat an eye, let us mention the supply and demand rule and people think we are ripping them off. Will never figure that one out. But I must say it is nice to be able to pass on all the crazy customers again knowing you have two more buyers waiting in the wings.
  • air2karlair2karl Member Posts: 16
    enjoy your last ride before the 2 billion dies out, it will still be the buyer's market after this frenzy wave, the 5% clunker people have been used by the government, the dealer monopoly to kidnap the other 95% regular buyers on the bandwagon with overpriced cars, but it won't last forever, and a lot of smart people know this, when the winter clear season comes and the regular buyers still don't take out their wallet, let's see who has the leverage, no intelligent person, no one will beg the dealer to sell a car, it should be the other way around, :shades:
  • british_roverbritish_rover Member Posts: 8,502
    no one will beg the dealer to sell a car, it should be the other way around,

    Who said anything about customers begging us to sell a car?

    I think you should be careful when you try and put your words in someone else's mouth.
  • joel0622joel0622 Member Posts: 3,299
    Unlike most buyers we understand peaks and valleys in this biz. Right now is a peak, and as the old saying goes when the suns shining you make hay. Thats what we are doing. It is like that in any sales business, be it cars, shoe laces, or widgets. Are ride will continue as long as our doors are open. We sell Fords and we are going no where but up, before the C4C was even thought of we were gaining market share every month, this has just been a great shot in arm. Besides that its not like its all C4C biz right now, it is probably a 60-40 split. Our programs are no different now then before, as a matter of fact some are better.

    As I said we are gouging no one. We are a family owned dealer that sells more then any one in the state month in and month out and usually top 3 in the region which is 7 states. We will be fine when the program ends. As a matter of fact if allot of people have your mind set we will probably see another spike in business from all the people like you, you know the 95% that is so smart and informed of the day to day operations here.
  • mystiedeemystiedee Member Posts: 2
    We purchased our vehicle on 7/24/09 and the government has not yet begun to process our transaction or anyone else at the dealership yet. Our new car sits on the lot with the others that are sold. I do not blame the dealership for not letting the vehicles go and from what I understand there are a few playing the waiting game. I guess the government is backlogged and there have been many computer problems. I am just wondering if anyone has any idea of the turn around time with this Program.. Would like our new vehicle before Christmas LOL Thank you
  • smilinjackrosssmilinjackross Member Posts: 37
    How was the dealer able to get it to work? we were told that if it is not on the list there is nothing the dealer can do

    I don't think that's true. Just because a car's not on the list doesn't mean it doesn't qualify. See the following link for the process to submit an application for an unlisted car:

    Unlisted Car Process

    Dealer Processing Tips
    Marc McGurren, a member of the Jerry Durant Auto Group in Texas was very kind to send us his dealer checklist to streamline the sales entry process. Dealers may find some tips here that can help you with getting sales submitted and approved.

    1. Help line numbers to call:

    Monday – Friday 7:00am – 5:00pm 202-366-0606*
    Monday – Friday 5:00pm – 10:00pm 202-510-7825
    *I called on 8/4 at 3:30pm – got a busy signal, hit the redial button less than 10 times (in a row), got a “live” person and an answer!)
    IT Help – 405 – 954 – 3700

    2. You can now send the documents in ONE pdf instead of sending the pages individually.

    You MUST scan the pages in the order listed on the CARS.gov checklist
    Limit resolution to 200 -300 dpi (dots per inch) pdf format is preferred
    Use black and white. Do not use color.
    Limit file size to 6 – 8 MB, otherwise scan each page separately
    In the Title box (where you were putting the copy and paste of each individual document name) write “All documents attached” or All attachments together”

    3. Placeholders for “Unlisted’ vehicles (or trade-ins you can’t find) have been entered in the Trade-in vehicle description drop down list.

    Enter %unlisted% and it will go to the different makes of unlisted vehicles for you to choose from OR Enter %Make%unlisted% and you can populate the box
    IMPORTANT – you MUST go back to the main invoice screen to the Invoice Description box and write “Escalate to NHTSA – Trade-in vehicle not on pick list.” (This will alert the screeners so they won’t kick the transaction back)

    4. Disabling the engine – can kill after the deal. (You have 7 days after reimbursement, but must keep on dealer’s property or in dealer’s control)

    5. USE INVOICE DESCRIPTION FIELD for any other unusual circumstances. You can let NHTSA know here ( ie. Death) and there’s not a continuity in the transaction.

    6. To correct rejections, click on Create Invoice – enter the invoice # and click on the pencil icon – Update will highlight – make corrections.
  • air2karlair2karl Member Posts: 16
    what I have seen so far in this frenzy is that, for regular buyers, most of the time they are shown to the door if they even dare to try offer the same price they can get back to 3,4 months ago, most of the dealers behave just like customers are begging them to sell a car, which is ignorant, I agree, there is peaks and lows in any business, but you should not be ignorant when you just have a little bit of leverage, and you shouldn't try to squeeze the last drop of orange juice from a rock, I am sure you have seen those horrible stories posted on this thread for even the clunker people, I believe there are good dealers like you two, but as someone else has said before "dealers are crooks until proven otherwise", nothing personal, just some thoughts after some bad experience recently with different dealers, peace out :shades:
  • jipsterjipster Member Posts: 6,296
    We have never gouged anyone and we won't start now

    You must be overworked. I didn't remotely write anything about raising the price to gouge anyone. I just asked if prices were being raised, like I wrote about... supply and demand... a dealership would have to be crazy not to move them up closer to MSRP with supply low and demand high. I was asking how much higher. If Fusions were going for $200 above invoice last week, might they be going $500 above now... which sounds about in the middle.
    2021 Honda Passport EX-L, 2020 Honda Accord EX-L, 2011 Hyundai Veracruz, 2010 Mercury Milan Premiere.
  • british_roverbritish_rover Member Posts: 8,502
    he time they are shown to the door if they even dare to try offer the same price they can get back to 3,4 months ago,

    We are selling for 3,000-4,000 dollars less on some models, on the S60 which are all sold out now programs got 4,500 dollars better, then three months ago. The programs are much, much better and margins are essentially the same. Did we make a tiny bit more money on the past few sales then we did a couple of months ago sure but 100-200 dollars better on a 40,000 car isn't much.
  • air2karlair2karl Member Posts: 16
    as I said, not every dealer does business the way you do, in fact, you would be 1 out of 100 doing this, and this is exactly why people have very bad perceptions on dealers, what can I say? again, nothing personal, :shades:
  • gardnermotorsgardnermotors Member Posts: 1
    As an owner of a small used car dealership, I gotta say this Cash for Clunkers has put another dagger into my chest. I have suffered through the past year with about a 65% decrease in business year to year. I have an excellent reputation in my small community and have survived thus far due to that with repeat customers and referrals accounting for most of my sales this year. But now President Obama and the new car execs came up with this great plan to help the new car industry to rebound. Many new dealers will take this as an opportunity to get more for their cars then they would have sold them for just weeks ago. It also takes the cheaper cars off the market for us small dealers. It also cripples the small guy with used cars that now are worth less and are harder to sell. No incentives for the small guy, but General Motors, Toyota, Ford and all the new car companies will be laughing all the way to the bank, along with all the rich mega dealers. I am not sure why I have not heard more from the small used car dealers out there, it has got to be affecting them in what already was an almost unbearable selling environment....
  • murphcoairmurphcoair Member Posts: 8
    I was at my Ford dealer today looking at a 2009 F150 FX4 Supercrew, the title for my 1997 F 250 is in my Corporation name ( I am the owner of the corp.) , but the registration and insurance for the past year has been in my personal name, The salesman seems to think this will cause the application to be rejected, any thoughts ?
  • dog007dogdog007dog Member Posts: 6
    After 3 weeks are trying to get my van move from cat3 to cat1 to purchase a minivan, I give up. After two weeks and 5 messages left at the cars hot-line for specialist to contact me nothing. I did learn some great information that will help this winter when I do go to purchase a new vehicle. As has already been stated on this board there are some good dealers and bad ones. I at least know who I will be contacting this winter and who I will stay away from. FWIW here was my experiences over the past 3 weeks.

    Wysup Hyundai in Lewiston ID- Lie to me outright, dishonest, so much so I wrote an email to the owner and cc the president of Hyundai. One big thumbs up to Hyundai Corp as the manager from consumer affairs called me the next day to apologize.

    Dishman Dodge- I went to buy a van after they said they would price match Dave Smith, I told them I just wanted to trade my van straight up as it did not qualify, they proceeded to offer me the C4C deal and when I said lets sign the papers they backed down. Tehy have upset me to the point that I would be hardpress to by a dodge just because if it needed serving they are the dodge dealership in my town.

    Downtown Toyota- Blew me off and I bought my last new vehicle from them and do all my service on it there. Will not be going back there.

    Bud Clary Toyota- very nice tried to help me.

    Appleway Toyota- very nice tried to help me

    Wendle Nissan- extremley nice and helpful

    Parker Toyota- blew me off

    Jaremko Nissan- blew me off

    James Toyota- Blew me off

    Downtown Honda- blew me off

    Renton Honda- tried to help me

    Dave Smith Motors- extremely nice, helpful, to bad they don't sell Toyota or Hondas
    :sick:
  • philbert2kphilbert2k Member Posts: 1
    The program worked for me but only because I had prepared and the dealer had prepared. I picked out my car over the July 4th. weekend, put a deposit on it on the 6th, with the understanding that this was a CFC deal. I was afraid that I would not get the car I wanted, at the best possible price, and I feared what a zoo every dealership would be that first day. Yes it was.
    So, The first day of the program, I went down with every piece of information they could possibly ask for, and I was able to pick up my Escape that night. The sales person warned me it would take a few hours as I would be his first customer using the program and he was right. But, since I had all of the docs on hand they were able to release the car that night. I credit the dealership for holding the car for me long enough to buy it under the program, and for being prepared it release it the first day. They honored the agreement and quote they made on the 6th. I signed up the extended warranty and maintenance plan. They were happy and I am happy.
    BTW, I was able to get the Escape that is configured with everything I wanted and nothing I didn't.
    The dealer: Huntington Ford, Rochester Hills, MI
    The Sales Person: Curly Dan Wagner.
    Myself:One satisfied customer who benefited from CFC.
  • gagricegagrice Member Posts: 31,450
    Sounds like your planning paid off very well. Where did you get all your info on the C4C program? I see you are a new poster. It was not real well publicized here in CA prior to going into that first big weekend. The Escape was one of the top sellers in the program so getting in line early was a real good thing for you. Welcome to the Forum.
  • british_roverbritish_rover Member Posts: 8,502
    If we weren't offering the full incentives on new cars now we wouldn't be selling any cars cause you can be absolutely sure our competition is.
  • kdhspyderkdhspyder Member Posts: 7,160
    Well I guess that you asked your question wrongly.

    "Are there any discounts?"
    or...
    "Do you have any dealer incentives that you're not telling me about?"
  • kdhspyderkdhspyder Member Posts: 7,160
    This is the truth.

    The reason that the program is going to slow down.....no vehicles on hand. The winner will be the manufacturer that can restock its dealer network the fastest.
  • kdhspyderkdhspyder Member Posts: 7,160
    Well this is a dog-eat-dog business model we operate under. You're right the legislation was created by the big new vehicle makers to assist themselves and their dealers. These groups have access to the ones that write the laws so they get their voices heard.
  • acesk8eracesk8er Member Posts: 16
    I traded in a 1998 Nissan Pathfinder for a 2009 Nissan Altima. When I mentioned that I’m entitled to scrap value minus $50 the general manager was adamant about not giving me anything because of all the expenses that he will incur in destroying the engine and getting the old truck towed off of his lot. He added that he wasn't disclosing scrap value or giving scrap value credit on any C4C deals. Of course I had the option of walking away but at that point in the evening (about 8:30 p.m. on Thursday, July 30) I felt like I had to get something done before C4C was gone so I didn’t pursue it any further. (The general manager had already made an announcement to his staff that no more C4C trade-ins would be accepted after midnight because the program was about to run out of funding.) Any advice on how to get some scrap value money back after the fact would be appreciated. This particular dealership is a division of a major publicly-traded corporation. Other than the scrap value issue I was absolutely thrilled to get C4C bucks for my 1/4 million mile truck and to drive away in a brand new car.
  • gagricegagrice Member Posts: 31,450
    If you plan to have your new car serviced at that dealership I would just forget about the scrap value. They are in the wrong. But you may get the runaround on warranty and service if they put that in your record. The most you would possibly get is a couple hundred bucks. If you don't plan to use them for service file a complaint with the CARS program. I would still wait until you have your clear title in hand. They could just say the deal did not go through and give you back your clunker. Not really worth the hassle.
  • dodgeman07dodgeman07 Member Posts: 574
    "We sell Fords and we are going no where but up....gaining market share every month..."

    ///////////////////////////////\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\

    I'm glad to see Ford doing well. I'll be looking at a Fusion or Taurus next year when my Lucerne is paid-off.

    I expect the new Fiesta to be a big hit also and hope to see it in Ford stores by next spring.

    I'd love to see Ford become the #1 auto manufacturer in the world.
  • zimbochickzimbochick Member Posts: 30
    We did not get the scrap value credit either, and I did not push for it. The way I looked at was I got a really good deal on a great car. This is untested waters for dealers and buyers. It sounds as though the dealers are spending way more man-hours submitting these claims than anticipated, and although I know they are still turning a profit, they could just as easily be selling at MSRP now with the high demand, but most are running business as usual. I agree, if you report them, the deal will more than likely fall through, and you'll have to start all over again. Is it worth it for a hundred bucks or two?
  • mumin4umumin4u Member Posts: 2
    I personally would avoid the CARS program unless you are driving a piece of junk that's literally falling apart every time you drive it!!!! I think program was intended to reverse the economic trend that started as of last year (i.e. Americans saving instead of spending and accumulating further debt)!!! My father is driving two minivans now and was trying to convince me to trade in my "clunker" (a '97 VW Passat with VR6 engine, 4-speed Auto trans, and 190,000 miles) in order to buy him a more fuel efficient vehicle. I did some research and found that majority of websites/CARS calculators have determined that my "clunker" has missed the MPG limit by a mere 1 MPG!!! (some calculators said 18 MPG combined while a vast majority said 19 MPG combined)!!! However, in retrospect, I'm not lamenting my "opportunity" to take advantage of this program since I figured that to get a good solid car (i.e. [non-permissible content removed]/German IMO), I was looking at a sticker price of no less than $16-17K. That's for bare bones. For a well equipped model I was looking at approximately $20K. With a $3.5K rebate (as most vehicles would qualify for) I would still owe a balance of $16.5K!!! Since I refuse to finance (except 0% interest), I would have to trade in another vehicle as a supplement in addition to cash in order to finish the purchase. I sat down and pondered on the possibility of 0% interest financing for 36-48 months (VW and Toyota are offering this until the end of the month). I realized that in order to do this my insurance premium would obviously go up (as I would be required to do comprehensive since there would be a lien on the title), I would have to start doing dealer service in order to preserve the warranty (thereby costing more money). The point being is that my overall monthly financial obligations will increase (not exactly the smartest thing in time of a recession). So the way I see it, buying a brand new car is lose-win situation. The car makers win, the consumer loses. Even with a $4.5K voucher, it will not offset the first year's depreciation of the vehicle. I figure two years from now I will have just as easily lost more than $6K off of the new price. So my logic is this: why not buy a pre-owned vehicle (2-4 years old) that has great fuel economy, then sell my "clunker" (even if I get only $1K for it) and that way I would not only save significant money, but I won't have to sacrifice another vehicle either (to complete the transaction!!! For example, if I want to buy my father a 2009 Honda Accord, I will be looking to pay no less than $23K for the base four-banger with Auto trans (sorry my pops doesn't shift gears). I was doing a search and found out that I could potentially find a fairly loaded (vs a bare bones 2009) 2007 Honda Accord (yeah I know they are different body styles but the powertrain is essentially the same) for about $14K max!!!! That is a savings of at least $9K!!! I can think of a $#!tload of things that I can do with $9K!!! I also save a great deal by not having to deal with the dealer or paying for comprehensive insurance!!!! I know this seems like a long and incoherent argument (but hey it's 1:30 AM on Sunday), but I would like to sum up is that don't jump on the bandwagon and give into the hype!!! We Americans need to continue doing what we were doing since last year (saving money!!!). I am very sure if you sell your vehicle privately and shop around for a good pre-owned vehicle you will find that you will save a great deal of money while still meeting the "objectives" of congress!!!
  • hhogaskithhogaskit Member Posts: 1
    No the government is doing this on purpose. They simply want everyone in a car that is 2005 and above because of the fact every car since then has on star or some sort of tracking on this is just my honest oppion.
  • stephen987stephen987 Member Posts: 1,994
    That's the stupidest thing I've ever read on Edmunds.
  • mitchfloridamitchflorida Member Posts: 420
    The bottom line is if you are happy with you what you are driving, you should keep it. Just keep in mind that a lot of the "facts" that you are convinced of aren't really accurate.

    As an example, a Base Accord doesn't really cost $23,000, but under $19,500 . . Also your car, as you described it, does qualify for the program, no ifs about it.
  • dkvndkvn Member Posts: 14
    Good morning
    We have signed the contract to dump my old minivan and buy a new Corolla. We are exiting to wait for the C4C money.

    The dealer did not mentioned about College Grad Rebate Program. We did sign the contract w/o knowing about it last Wednesday.

    Now, I just suddenly found out about the $1000 College Grad Rebate Program. How can I do to get it. The car is in two names and both my wife and I are eligible for it (She graduated BS this year, and I am finishing my MS)

    Could someone please advice what should I do. My mistake is not to research well b4 buying the car. Like most people, we were driven to the dealer because of the C4C

    Thank you all, have great Sunday
  • fushigifushigi Member Posts: 1,459
    Still, in it's own way, if a used car dealer can survive the program, shouldn't the end result be improved profits? Scrapped clunkers means fewer used cars on the market. So the supply/demand curve for used cars should swing towards the demand side and cause a spike in used car prices.

    Personally, I'm satisfied to see the average fuel economy of the US go up a trifle. Also, the clunkers likely polluted far more than their replacements so there will be an improvement in air quality.
    2017 Infiniti QX60 (me), 2012 Hyundai Elantra (wife)
  • mitchfloridamitchflorida Member Posts: 420
    Just tell the Dealer that you want the College Grad Rebate before you take the car. The Dealer shouldn't care as it comes entirely from Toyota Corporate and won't cost the dealer a dime. You have to finance the Corolla through Toyota to qualify.
  • dkvndkvn Member Posts: 14
    Thank you

    Yes, we finance the car from the dealer. We didn't get the car yet. We are waiting for C4C credit to dealer but we did sign the contract and I don't know if it is easy to get the college rebate or not. Anyway, I will contact the dealer tomorrow and thank you for your advice
  • skilauskilau Member Posts: 26
    It all depends upon your situation in life.
    If you were thinking of buying a new car within the next year, AND have a clunker that you can trade it, then you would be foolish not to take advantage of the C4C program.
    (Thus all the talk about the push/pull forward sales talk)

    You do a bit of math above, which, although I would argue some of the numbers are wrong, ask yourself this...
    Would any of these numbers change if you bought your new car next year?
    Probably not.
    Except of course, you lose 3-4K of cash that the Feds are throwing at you.

    Every big purchase you make in life comes down to exactly the same math as you do here.
    You need to weigh the benefits versus the cons, against your timeline in life.

    In this case, its pure cash.
    You jump now, you get 3-4K "for free" from the Fed.

    I still feel, if you have the means, the clunker, and are comfortable with your finances, you would be foolish to not take advantage of the program.
  • stephen987stephen987 Member Posts: 1,994
    I think that's a pretty good summary. In my case, it pulled a sale forward by a year or so--maybe more. Without C4C I would have waited till our other car was paid off, next September. But here's the kicker: because it meant taking on a second car payment, I bought a less expensive car than I would have if I'd been shopping for a new 2011 model. So while it pulled a sale forward, it also reduced the dollar value of that sale.

    Wonder if anyone else bought a cheaper car because of C4C than they would have otherwise?
  • jeffyscottjeffyscott Member Posts: 3,855
    Is that you in the photo in post 1587?

    british_rover, "Cash for Clunkers - Does it Work for You?" #1587, 6 Aug 2009 7:19 am
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