Thank you Obama. Just traded my 1997 Jeep Grand Cherokee "Clunker" for a $4,500 discount on a new 2010 Chevy Equinox. I've been looking for a new car since March, prices were discounted big time. I was offered $500 for it back then but knew I could get $1000 min probably $1500 on a private sale since it was in great shape. This new Clunker deal turned the corner for me.
Considering I bought it for $6000 6 years ago and put 80,000 miles on it with no costs other than normal maintenance, I think I got a good deal out of it

I looked at Toyotas, VWs, a few low mile certified BMWs, the Ford Edge, but in the end the boys at GM put out a nice product that averages 25 mpg. In the end I felt guilty going with anything other than an American producer, so this one was for the folks in MI and OH. (Sorry guys but I had to take a pass on the $140,000 Corvette with the $31,000 custom paint job.) By the way, It's been a while since I was in a Chevy dealership and I was impressed with the new Cobalt and Malibu. Moderately priced and real nice looking vehicles that have some great MPG ratings. To say GM has been misfocused on what's marketable, I'd have to disagree.

Another interesting discount....If you can show ownership of another manufacturers car, they include a 00 "Conquest" discount on top of all of the other discounts they are offering. You don't even have to trade the car/truck.

By the way, if you have the same opportunity, act fast, the dealer I went to already 45 Clunkers in the back of the yard and the program was official as of yesterday. He's been taking the trades for two weeks now. The analysts that watch the auto makers are saying sales are jumping out of the dealerships and the $1B cash will be gone by Labor Day.

I have Pontiac's equivalent to the Equinox and love it. Its a very nice vehicle with great gas mileage for an SUV.

Originally Posted by washed up wrestler

That does sound like an awesome deal. Seeing as I only have a late model car I wasn't really aware of the program other than a headline or 2. I think it also points out that not everything Obama is doing is bad. He's trying everything he can to help the little guy but the media would have you believe that he's ruining their lives.

Having thoroughly examined the rules, There are a few aspects I think were built in to stimulate the auto industry with no eye toward the environment. For some trucks, you don't need to 5-10 mpg gain, only 1-2 mpg so that pretty clear it's intended to move vehicles. Same for SUVs, the predominance of gas guzzlers you need find a 5 mpg improvement to get the full $4500, but if you own a car, you need a full 10 mpg improvement. If you seach fuelecomony.gov you can find the rated mpg for your vehicle. Since most passenger cars are getting more than 18 mpg they don't qualify for any discount. Basically this law is targeting replacements for SUVs.

Quick question - on the trade in, are you required to buy a 2009 or 2010 model?

Originally Posted by Black-n-Red

Quick question - on the trade in, are you required to buy a 2009 or 2010 model?

I've read 2009 or 2010, but the rule published on Friday only says "new". I guess if you can find a 2008 leftover that qualifies on MPG, it would fly. Of course, you should get a steep discount since the sec you cross into the street the resale value will probably drop 30-40% from sticker value. Hyundai or KIA even more, 60-70%.

Remember - cut the best deal you can, then introduce the rust-bucket trade-in. Otherwise the dealer will try to factor the trade-in into the deal.

Tis true, actually I was trading in another vehicle and we haggled over the value of that one first. Then we looked at the Chevy discounts that were available and haggled over the value of a few add ons before I even mentioned the clunker. My daughter had been driving the Jeep but needed something more reliable for the sales job she took. So she leased a vehicle that didn't qualify opening up an additional 4500 discount for pops new vehicle.

Oh crap, done deal but the car isn't at the dealer yet.....

Sources: Government to stop ‘cash for clunkers’
Officials worried $1 billion rebate program may quickly run out of money

The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.

The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly. Rae Tyson, a spokesman for the National Highway Traffic Safety Administration, which administers the program, declined comment.

http://www.msnbc.msn.com/id/32228179