95 C4 993

Anyone trading in their 993's?

Seems like every program that is coming out just doesnt apply to me. $8k first time home buyers, cash for clunkers, ect

Now everything is "stimulas" marketing. How about stimulating those who seem to be doing all the right things.

Robin 993DX

I was thinking about trading the 996 for a Prius, but later found out that they don't pay you for the trade in, just the discount on the new car.

993c2cab

here here... seems the better we do the more that gets stacked against us..

Bogwan

I work as a finance manager at a Ford dealership, and this program will end up being a huge mess.
It's going to be about the details and timing. Some quick issues:

$1 billion seems like a lot of money, not!
Average C.A.R.S. (official program moniker) rebate $4,000.00.
Approximate transactions, 250,000
Approximate dealers to be involved at inception, 19,700.
Approximate average number of vehicles per dealer. 12.

Problems to arise:
We have 12-14 deals already on the programs 3rd day.(we are average size)
3 month program(right)
First come - first serve.
Mountain of paperwork to submit through electronic means(scan and email), AND electronic remittance required. (they need to connect the 2 at the govt end)
If application rejected, you start over from scratch, and hope there is some money left
Proof registered and insured(per your state's regulations) is tough for customers, insurance not that bad, but most throw out their old registration, and no easy way for people to get previous proof
Disposal of vehicle is the second part of program consumers don't see. Fun part for the technicians - replace oil with sodium silicate, and run vehicle until it siezes!
Dealing with auctions, scrap yards and other's involved = another mountain of paperwork.
CARS.GOV is the website for details, if your real board, read through the 136 pages of rules, (I really enjoyed that)

Love the idea behind getting these older 'clunkers' off the road, and stimulating the sales end of it, but the interface with the govt, combined with the regulations that each state has for the sales of new vehicles will definitely throw a few wrenches in the consumers enjoyment of the benefits.
One thing is guaranteed, there will be many, many articles about how the system failed, and consumers got left out in the cold.

Bearclaw

My wife works for the auto finance arm of a major bank.
She fielded calls all day Friday from frustrated dealers, looking for advice and help of any kind. They were given a 'code', a website and not much else in terms of info.

I would have preferred to see the rules geared more towards getting the fuel cows off the road. But they were apparently "adjusted" to favor the other objective, which was to get foot traffic in the dealerships. I guess some dealers have been offering the $4500 for a few weeks now on the cuff, based on what they understood was coming. Brave move, but ya gotta try to sell some cars or else lay more people off.

Germans have been doing this for a while. Not universally praised there, but a slight net positive. It certainly reduces the inventory of used vehicles out there, so the used car guys there ain't likin' it. The main concern was and is, this will just pull some sales forward that would have happened anyway, but will cannibalize some future sales.

Bearclaw

AND, one unfortunate consequence, we'll undoubtedly be throwing some babies out with the bathwater.
I have a 2000 Volvo V70R I commute with: great shape, comfortable as hell and goes like stink.
I get about 23mpg average, but it lists as 18.
I'm NOT gonna be "Clunkin'" it.

Floodj

So does the program apply to US cars only or all makes? Doesn't makes sense to me to offer this to any car when we are supposed to stimulating the US Auto Industry.
--Joe

95 C4 993

Im sure somewhere along the road of this marketing/stimulious effort, someone will become filthy rich or get busted trying to scam the system. Or, a combination of both.

umfan866

FYI - you could trade in a clunker car to buy a Base Cayenne under the Cash for Clunkers program -- since the base price is $45,000. Options don't count so you could stilll put in some options...

umfan866

Uhhh... I forgot that the mileage of the new vehicle has to be at least 4-5 mpg above the old vehicle...hmmm.... so that may not work. Maybe if someone is really creative, they can make it
work...

Bogwan

In certain situations, i.e. trading big truck, or I think(im not at work now or I would be sure) class 2 or 3 when buying a class 2 (F150 size, and SUV's) you only need 2+ mpg increase. New has to get minimum of 18 Average MPG.
The program is for all domestics and imports, would have been nice if just domestic(remember I work for Ford) but I guess somehow it's fair that imports are included, as the idea to increase overall fuel economy is the main goal.
Ford has a calculator on it's website where you put in your trade info and it brings up a screen that shows you which models qualify, pretty cool.(I'm sure other brands do to)
Qualifying transactions from July 1st are eligible for the program, and I know some dealers did pre-sell, knowing the generic perameters prior to the program going live on the 24th. Easy ones, like 1985 gas F250 traded on a 30+ MPG Focus, but I did not hear of them actually taking delivery until after july 24th.

Kein_Ersatz

+1

Paul M

We just did this on the wife's 1997 Montero Sport. Traded it in on a brand new 2010 Mazda 3 Touring.

Made out like bandits, IMHO.

The old bus was due for replacement early next year when the missus is due to rejoin the ranks of the actively employed, after being a stay at home mum for the last twelve years. (She's been at college for the last two years studying radiography, and next semester will be her last.) The bus was worth maybe $1,000-$1,500.

MSRP on the Mazda was $18.3k, Invoice around $17.3k. After some haggling, we settled at $17k, got the $4,500 gubment rebate, plus $500 Mazda cashback. So, $12k plus TT&L out the door.

umfan866

Nice! As of this evening - Cash for Clunkers has run out of money after only a week but looks like the administration is reviewing things and there is pressure not to cut off one aspect of various stimulus attempts that actually affect individuals.

I am looking at the EPA rating for the Cayenne 2001 base v6 and it is 14 and 20 so not sure if it qualifies as something you could purchase (I think they combine city and highy on a 55 to 45 ratio) - in which case the new Cayenne would not qualify - and yes what you are trading in would have to have to be
less efficient by 2 miles per gallon. I read somewhere that the rules were altered to be able to sell more light trucks and vans, and thus it is not as much about fuel economy as stimulus for the auto dealers. In any case .. good luck. I am thinking of which friends who have an old car I can call up (since they must have it registered in their name for a year)

333john

Paul, I also have a 1997 Mitsubishi Montero Sport and I am trying to use it as a Clunker credit for a new car too. But the problem I had at the dealer was that the MPG Rating section in the "cars.gov" web site were missing the fuel rating information for the entire 1997 Montero Sport vehicles, therefore I could not close the deal on this new car for my wife. May I ask you how did your dealer approved your 1997 Montero Sports for the Cash for Clunker's program?

Really appreciated if you can help.
Thanks so much.