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Posted: 8/4/2009 3:32:33 AM EST
Link Posted: 8/4/2009 3:42:20 AM EST
No question that CFC is a subsidy for the auto industry that depends on new auto sales for profits.

And, hey, guess who makes money when GM makes money?

Should rename them Zil.
Link Posted: 8/4/2009 3:46:26 AM EST
Link Posted: 8/4/2009 3:48:26 AM EST
Link Posted: 8/4/2009 3:49:17 AM EST
Originally Posted By The_Beer_Slayer:
i know it's an ad gimick but it got me thinking.

they were offering 5000.00 toward the purchase of a new car for trade ins that didn't meet the cash for clunkers criteria. supposedly they have no quality used cars available and need "inventory".

the letter pretty much stated outright the only trade in's they were getting were junk cars to be crushed by the .gov


Typical mailer sent to drum up interest. They will give 5k based on selling the new vehicle at MSRP. So if your car is worth $4000 real money to them they'll discount their car an additional $1000 and show you that discount in the form of "trade allowance".

Always wait until after you negotiate the price of the new car before you have your vehicle appraised. It's the only way you can know what they are actually paying you for your car.
Link Posted: 8/4/2009 3:50:39 AM EST
Yeah we never expected the genius Cash for Clunkers idea to have more cons than pros.
Link Posted: 8/4/2009 3:50:39 AM EST
Link Posted: 8/4/2009 3:51:11 AM EST
[Last Edit: 8/4/2009 3:51:40 AM EST by America-first]


The old "we need your used car for inventory" game has been going on for years.
Link Posted: 8/4/2009 3:52:52 AM EST
This program will hurt those it was intended to help. Just like every other government scheme.
Link Posted: 8/4/2009 3:57:42 AM EST
Originally Posted By The_Beer_Slayer:
forgot to add this was 5000.00 OVER kelley BB value.


Still the same deal. They'll give you KBB fair trade for your vehicle minus deductions for mileage, damage, etc. They will not add for any extras even though KBB will.

Then the new vehicle will be discounted only enough to make up the difference. They would still be going into this using MSRP as the selling price of their vehicle.

What car would you trade? I'll give you an example of what it would look like.
Link Posted: 8/4/2009 4:01:54 AM EST
Link Posted: 8/4/2009 4:07:33 AM EST
[Last Edit: 8/4/2009 4:10:45 AM EST by FreeFloater]
Him: "Hello Mr. Floater, will you be trading in a car today?"

Me: "I don't think so. Let's focus on buying one instead"

Him: "OK, here is a nice car. It sells for $25,000"

Me: "Oh my, that's just too much. Can't you do better?

Him: "$20,000 is the best we can do"

Me: "GREAT!!! I'll take it...and I have reconsidered, here is my trade-in"

Him: "<gulp>"

/profit

EDIT:

ALWAYS buy your car on the last day of the month. It's a numbers game for them, and they will usually give up more profit on that day to secure one more sale for the month.
Link Posted: 8/4/2009 4:07:56 AM EST
Originally Posted By The_Beer_Slayer:
Originally Posted By divkat9:
Originally Posted By The_Beer_Slayer:
i know it's an ad gimick but it got me thinking.

they were offering 5000.00 toward the purchase of a new car for trade ins that didn't meet the cash for clunkers criteria. supposedly they have no quality used cars available and need "inventory".

the letter pretty much stated outright the only trade in's they were getting were junk cars to be crushed by the .gov


Typical mailer sent to drum up interest. They will give 5k based on selling the new vehicle at MSRP. So if your car is worth $4000 real money to them they'll discount their car an additional $1000 and show you that discount in the form of "trade allowance".

Always wait until after you negotiate the price of the new car before you have your vehicle appraised. It's the only way you can know what they are actually paying you for your car.


oh yea for sure.

i have no interest in a new car. i bought my last used car about a year ago. it's 100% paid for and will easily last me 3-5 more years.


Gotcha.
Link Posted: 8/4/2009 4:14:17 AM EST
Originally Posted By VTHOKIESHOOTER:
This program will hurt those it was intended to help. Just like every other government scheme.


"Liberalism always generates the exact opposite of its stated intent."

-Jim Quinn
Link Posted: 8/4/2009 4:23:31 AM EST
Don't forget, the scrap market is in the tank right now. No one wants scrap steel. It'll all probably end up on a boat to China for half the price it would get in a healthy economy.
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