Hi, I am trying firm up the 4500 deals offered currently by some auto dealers. Is this their own deal or the governments. We will shortly be trading in 2 paid for cars. Many thanks. Hille
I've never heard of the "4500 deals" - can you expand/ Thanks. I just bought a new car (Honda, 60% USA parts + assembled in USA). We got the best deal thru Costco. I believe there is a federal tax deal for this year that allows me to deduct sales tax in addition to income tax. We got a beter price than expected for our trade-in (but not as much as its blue book value). Good luck with your buy.
The auto dealers are advertising this on local radio. As I understand it, it is a government program with a limited amount of funds. First come, first served. Essentially you trade in your car for a new car. Based on the difference in MPG of the new car to the old car, one receives $3500 or $4500 dollars which is applied to the price of the car. Essentially the goverment buys your old car. It's not a bad deal if you're in the market for a new car anyway, especially if your old one is worth less than $3500. How they (gov't) will prevent people from buying $1000 clunkers to trade in for $4500 rebates I don't know. If you're like me and are driving a 10 year old car getting 43mpg, you aren't likely to find any new car that qualifies for the incentive. Good tihng I'm not in the market for a new car or I'd be upset.
It's called the "Cash for Clunkers" program. http://www.cashforclunkersfacts.com/ Personally, I think it's just another example of government waste. But maybe that's just me.
Here's an interesting article on the "cash for clunkers" program. You might be surprised what the gov considers a "clunker." http://www.washingtonpost.com/wp-dyn/content/article/2009/07/17/AR2009071703868.html?nav=hcmodule
In my area of So. California they just had a similar program where a local government agency bought any gun for $100. I knew someone who bought a couple of broken hand guns for $10 and received $200 in cash.
Hille, Did you buy a car? I heard the program started this last wekend and has ran out of money today.