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Posted: Wed, Jul 22 2009, 6:41 pm EDT Post subject: Re: Q&A: How the 'cash-for-clunker' plan would work |
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FYI: The "cash-for-clunkers" program will officially start this Friday (7/24/09).
Anyone has a clunker to trade? |
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Posted: Wed, Jul 22 2009, 6:43 pm EDT Post subject: Re: Q&A: How the 'cash-for-clunker' plan would work |
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Just remember the fine print. It is scrap value of the car plus the government aid and not the trade in value plus the government aid. As the car is to be destroyed and used for scrap. So unless you have a really old car to trade in or the condition is poor it may not be a great deal. |
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Posted: Sat, Jul 25 2009, 8:56 pm EDT Post subject: 'cash-for-clunkers' is very popular |
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The cash-for-clunkers looks like a success. Dealers have reported heavy volume of traffic and many deals done. The sale person who handles my deal told me he has four in the queue on Monday.
Check if your trade-in is qualified:
http://www.fueleconomy.gov/feg/CarsSearchIntro.shtml
If qualified, bring the following documents to the dealer:
1. Proof of at least one year of continuous insurance
I use my current year's and last year's insurance cards. If you don't have them, call your insurance company to request a letter of proof.
2. Proof of at least one year of registration
I use my current year's and last year's registration cards. If you don't have both, you need to fill out a form and send it to MVC/DMV to request your registration history ($15 fee).
3. Clear title (no lien) of the car
All the above documents must have your name on them.
The dealer is supposed to give you an estimate of the scrap value of your trade-in (most likely less than $300). The dealer can keep $50 and you get the rest. |
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