7 Tips for Shoppers as Cash for Clunkers Concludes Monday
With the suddenly shutdown of the popular Cash for Clunkers program only four days away, we pulled together 7 tips to help last minute shoppers get a good deal on a new, more fuel efficient vehicle.
The surprise announcement from the Department of Transportation Thursday afternoon means that shoppers will have to act fast to take advantage of the $3,500 or $4,500 incentive program. All applications for Cash for Clunkers deals will have to be filed by 8 p.m. Monday, Eastern Daylight Time, Aug. 24.
Here then is our list of 7 essential shopping tips.
- Many "C4C" (Cash for Clunkers) shoppers have been paying higher prices for new cars. Dealers have raised prices due to the flood of foot traffic on the car lots. Do your homework on pricing by checking Edmunds True Market Value pricing; don't get swept up in the excitement.
- Some applications have been rejected because of lack of proper documentation. Collect your paperwork carefully before you head for the car lot. For example, is there anything that may have interrupted your insurance coverage or otherwise could be a problem in helping you qualify?
- New car inventories are light so you might not get the car you want. Be flexible on such things as color and options.
- Dealers may try to make you sign extra paperwork since some are being left on the hook for rejected applications. Extra staffers have been hired to deal with the backlog of applications. We don't recommend signing extra paperwork and it is not a legal requirement to participate in the program.
- Instead of driving from one dealership to the next, use the phone and internet to cut your legwork. Telephone the dealer before you go and find out what they're still doing C4C deals. Dealerships have been dropping out of the program because it's been a hassle to obtain the refunds for trade-ins.
- Some dealerships have held consumers hostage by refusing to release their clunker. Bring an extra set of car keys and drive away if the salesman starts playing games with your trade-in.
- Do your own research before leaving for the dealership. Above all else, make sure your car qualifies and is worth less than the rebate you expect to qualify for.
- Posted by
- Philip Reed August 20, 2009, 2:11 PM
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- Categories:
- Car Buying, Car Negotiating, Fuel Economy
- Technorati Tags:
- Cash for Clunkers, dealers, Department of Transportation, extra paperwork, incentives, inventory, Obama, Ray LaHood
I did take advantage of the program. Or at least I tried. Evidently I paid my registration 3 days late this year & that is considered a lapse in registration. I protested but was assured I was not the only person this had been caught by this stupid rule. No, that did not make me feel better.
I should have left the dealership right then. But at this point I didn't feel as if I had a choice. My truck was on its last leg & I wasn't sure how much longer I could baby it.
My question is this... How I know that the dealershiip didn't take my truck, give me $500 trade in value & then turn around & get the $3500 for themselves?
Is there somewhere we can submit the VIN for rejected clunkers to make sure the dealerships aren't ripping us off? If not, there should be.