Anyone Use The CARS Program?

[WhoDat]

Were you able to get the credit on top of a good price? www.cars.gov

http://www.cars.gov/faq

I want to see if I can do it when I go to trade mine in....

President Obama signed into law a program the National Highway Traffic Safety Administration (NHTSA) is calling the Car Allowance Rebate System (CARS). This is a federal program that helps you purchase a new, more fuel-efficient vehicle when you trade in a less fuel-efficient vehicle. See the Frequently Asked Questions for more details.

The CAR Allowance Rebate System (CARS) is a $1 billion government program that helps consumers buy or lease a more environmentally-friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation's roadways.

Consumers will be able to take advantage of this program and receive a $3,500 or $4,500 discount from the car dealer when they trade in their old vehicle and purchase or lease a new one. Consumers you do not need to register anywhere or at anytime for this program. However, to find out eligibility requirements click here.

[Clay Easto]

I just sold my 96 Acura 3.2TL. It didn't qualify since the mpg estimate was 19 and the Fed's prgram maxes out at 18 mpg.

[ilocke]

THIS GUY used it.

[jracerlmn]

hey man, "this guy" has a name and yes i used it. It's only worth it if you have a car that you won't be able to sell it or if it's worth less than $4500.

however the program is worthwhile if you qualify and you can afford a new car. Pretend the MSRP is 34k. You negotiate down to $31k. Take off that 4500 CARS money so you have 26.5k. They tax you on the 26.5k instead of the 31k. You save a little money on that tax. it's pretty damn nifty to save a few bucks.

[ilocke]

Haha my bad, dude.

[WhoDat]

Guess I wont be getting the CARS thing after all.

[jracerlmn]

Originally Posted by ilocke

Haha my bad, dude.

lol i forgot to the put the smiley face up. I was being sarcastic. Sorry if i scared you lol

[rebs]

My understanding is slightly different. I believe you get the $3500-4500 for the cars program (if you qualify) in addition to your trade-in value. Here's why:

1. "Consumers should expect the dealers to provide their best estimate of the scrap value for their eligible trade-in vehicle"

2. "The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be *in addition* to the rebate, and not in place of the rebate."

Although I find the program laughable, since I can trade in my GMC Sierra for a new F150 that gets a whole 1 mpg better gas mileage, I'm seriously considering working the system. ;-)

[mdsbrain]

Looks like the EPA tweeked the program to include vehicles getting 19mpg at the last second.

Autoblog.

"It seems the folks working the late shift at the EPA made a few changes to their published numbers just before the federal Car Allowance Rebate System - CARS (a.k.a. "Cash-for-Clunkers") program went into effect last week. The sweetening $3,500 and $4,500 incentives are available to consumers who trade-in 1984 or newer vehicles with a combined fuel economy average of 18 miles-per-gallon, or less in exchange for more fuel efficient transportation (22 mpg or better in the combined cycle).

Owners of certain 1993 Toyota Camry V6 wagons, 1992 Saab 900S hatchbacks (a turbo is shown), and 1988 Toyota 4Runner 2.4-liter models voiced their complains to Edmunds.com, frustrated that their eligible EPA 18 mpg combined ratings had been bumped to ineligible EPA 19 mpg combined ratings as the agency "refreshed" some of its numbers at the last minute. While few of us would complain about a free 5 percent gain in gas mileage, when it unexpectedly robs vehicle owners upwards of $4,500 on a federal incentive program, well, we'd be a bit miffed too, especially as there has been no official announcement as to why the changes have taken place."

[Kurtz]

Originally Posted by rebs

My understanding is slightly different. I believe you get the $3500-4500 for the cars program (if you qualify) in addition to your trade-in value. Here's why:

1. "Consumers should expect the dealers to provide their best estimate of the scrap value for their eligible trade-in vehicle"

2. "The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be *in addition* to the rebate, and not in place of the rebate."

Although I find the program laughable, since I can trade in my GMC Sierra for a new F150 that gets a whole 1 mpg better gas mileage, I'm seriously considering working the system. ;-)

Scrap value= the 50 or 100 bucks a junkyard gives you for the salvage value of the vehicle (which you can get under this program)

Trade-in value= what a dealer will pay for your car planning to re-sell it as a running car (which is what you do NOT get under this program)

[rebs]

Originally Posted by Kurtz

Scrap value= the 50 or 100 bucks a junkyard gives you for the salvage value of the vehicle (which you can get under this program)

Trade-in value= what a dealer will pay for your car planning to re-sell it as a running car (which is what you do NOT get under this program)

You are right.

However, I think there is some confusion on that point because according to the two dealership's I called they were giving trade-in value (not scrap value because I asked) + the 3,500-4,500 credit. However, this could just be a sales pitch so they can sell things at MSRP, etc.

The confusion comes because the vehicle must be in "drivable condition" to begin with. This is not a tow your old vehicle down to the dealership and get a minimum trade-in value on it, so this "salvage value" is kind of interesting. I'm starting to wonder if some dealerships have found a way to get around the shredding part of the program.

Anyway just food for thought.

[xuningshen]

i 4get... there are some tricky rules like the car had to be under your name for the past year.

[jracerlmn]

Originally Posted by eternal07

is it good for next month?
if it is, i'm trading in my LS430 and buy 1 4cyl car & other lexus since I need another car

you gotta hurry NOW. The program only has $1 billion in it and it's over as soon as it runs out.

[WhoDat]

Originally Posted by jracerlmn

you gotta hurry NOW. The program only has $1 billion in it and it's over as soon as it runs out.

Because it's so popular with the public, they are going to pump more money into the program...

[1SICKLEX]

Please post in here! Post what you traded in and what you bought!!