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Cash for clunkers

Classklown90

Classklown90

So value Kia is apparently doing this again. I have been wanting a new car for some time. I'm wondering if now is the time. What's the catch with this? Is it really a good deal. I have never bought a car from a dealership, always from an owner.

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ThatGuy

ThatGuy

It doesn't have to be a kia either. My sister just got 5k for her beater maxima toward a 2011 Ford Escort leftover from that same dealer.
 
Classklown90

Classklown90

Jcurry@wesketch said:
You pay tax on the money they give for the clunker because it's considered income.
Click to expand...

If that's the only hitch then I'm okay with that. I'm just curious if there is a limit on the value of the purchases car. For example. Car purchaser must be valued at 10,000 or more

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SeahorseKeeper

SeahorseKeeper

Officer Emeritus
Officer Emeritus
One thing I have found when getting a new car is to finagle the price of the trade in that you have. Be realistic of what the car is worth and try to go for a teeny bit above that. I will walk out of a dealership if I do not like the offer. Typically, they have your contact info at that point and will contact you. I was able to trade in my beat up Kia with the key stuck in the ignition, bald tires, bad brakes and dents in all four panels for 5K.
 
9supratt4

9supratt4

Even without a trade in you can get incredible deals!! I just leased a 2013 Hyundai Veloster and went to 3 dealers. All the dealers were around the same price give or take 2-3 bucks. One dealer dropped by $40/month, but it still wasn't what I wanted to pay. One dealer wouldn't budge from the number. The third dealer though I told him that the other guy dropped, but it wasn't what I wanted to pay. I told him if he gives it to me for what I want I'll be in that night. He dropped $70/month from the original price!! They are making awesome deals!! If you are ready to buy a car on the spot you will get an even better deal!!
 
Classklown90

Classklown90

SeahorseKeeper said:
One thing I have found when getting a new car is to finagle the price of the trade in that you have. Be realistic of what the car is worth and try to go for a teeny bit above that. I will walk out of a dealership if I do not like the offer. Typically, they have your contact info at that point and will contact you. I was able to trade in my beat up Kia with the key stuck in the ignition, bald tires, bad brakes and dents in all four panels for 5K.
Click to expand...

See well that's nice because honestly my car is in good condition it's an 03 Elantra. It's just a little plain for my taste. I'm a truck guy and tho I'm young I've owned 3, my favorite being my 96 landrover. So I'm looking for at least a small SUV if I do buy

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downbeach

downbeach

This is all just a game they play, i.e. "cash for clunkers, double trade-in, etc." The dealer pays "X" for a car and tries to make "X" in profit. With a 2 to 3 year old car, they will calculate the resale profit in some of their profit from the sale of the new car, but with a 10 year old car, even in good condition, they will simply wholesale it to someone, i.e some of these used car dealers you see along the road, third world countries, etc. I've learned over the years to go into a dealer without the trade, and see what kind of a deal I can strike. This time of year, they may go to dealer invoice to move the existing inventory. In this case the profit they make is in the "hold backs" that is offered to them by the manufacturer. You would be better off going this route and selling your vehicle privately. Or, you could introduce your "trade" after you have negotiated a price, and see what you are really getting for it. Go to KBB.com and Edmunds.com, to see what it is worth, there are a lot of buyers looking for a good used car in good shape.
 
Classklown90

Classklown90

downbeach said:
This is all just a game they play, i.e. "cash for clunkers, double trade-in, etc." The dealer pays "X" for a car and tries to make "X" in profit. With a 2 to 3 year old car, they will calculate the resale profit in some of their profit from the sale of the new car, but with a 10 year old car, even in good condition, they will simply wholesale it to someone, i.e some of these used car dealers you see along the road, third world countries, etc. I've learned over the years to go into a dealer without the trade, and see what kind of a deal I can strike. This time of year, they may go to dealer invoice to move the existing inventory. In this case the profit they make is in the "hold backs" that is offered to them by the manufacturer. You would be better off going this route and selling your vehicle privately. Or, you could introduce your "trade" after you have negotiated a price, and see what you are really getting for it. Go to KBB.com and Edmunds.com, to see what it is worth, there are a lot of buyers looking for a good used car in good shape.
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Thanks Jim. I never believed that it was really a good deal, I just wanted to be shown why.

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Brando457

Brando457

Also keep in mind that if you do full coverage on the vehicle insurance companies do not go by kbb or edmunds or nada god forbid your car is a total loss. Insurance companies use J.D. Power & Associate w/ Mitchell WorkCenter Total Loss value to find the market value of the vehicle.

- Insurance adjuster :smiley_simmons:
 
asonitez

asonitez

Its threads like these that make me never want to purchase ANYTHING that cost's more than 1K cause 100% chance I can probably get it cheaper from a member on the forums...

which is why we need to get that member sub-forum up and going where we post what we do and services we provide.................................Do it Mnat!

I mean.... Already in this thread.. I can buy a subaru, get it insured, and probably detailed with a audio system installed by Audios.... ALLL at a NJRC meeting!
 
jose7878

jose7878

asonitez said:
Its threads like these that make me never want to purchase ANYTHING that cost's more than 1K cause 100% chance I can probably get it cheaper from a member on the forums...

which is why we need to get that member sub-forum up and going where we post what we do and services we provide.................................Do it Mnat!

I mean.... Already in this thread.. I can buy a subaru, get it insured, and probably detailed with a audio system installed by Audios.... ALLL at a NJRC meeting!
Click to expand...

Lol...
 
asonitez

asonitez

Its like walmart for laziereerer.. ppl. Now then.. All I need is..

A Sitter
Hell we already have a Vet on the forums..
Need a Mortgage Broker
Already used the services of an electrician..
I don't think I'll ever need to take my pc to best buy for tech help..
Dnov can tell me how to best invest in commodities.
and Gonzapa can tell me the most cost effective medications to get from Novartis.
 
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