Say you had a $4500 Cash for Clunkers Credit......

What would you buy as your car? We'll just assume you get a $4500 credit. (Clunkers must get less than 18 miles a gallon combined fuel economy, as rated by the Environmental Protection Agency.).


Rules:
The new car you're buying must get at least 22 mpg
A new SUV or small truck must be rated at least 18 mpg
No minimum when you're buying an extra-large work truck or van.

What car/SUV/van would you get?

Would you finance the difference or pay in cash?

Use your own needs as justification and assume this will be your primary mode of transport (i.e. you won't have your current car).

 

Honda Civic

http://automobiles.honda.com/civic-sedan/price.aspx?Model=FA1559EW

or

Toyota Corolla

http://www.toyota.com/corolla/trims-prices.html#?view=showroom&vehicle=3

I like these cars, cheap repairs, etc.

probably finance it if the rate was low or zero, otherwise, I could just pay cash I guess but sucks having $12k deleted out of your bank account at once.

 

On a related note, isn't it amazing how many people jumped on what basically amounts to a tax cut?

Too bad there isn't a $4500 tax credit. That would really stimulate the economy overall, and not just auto dealerships.

 

IF YOU DON'T DO IT NOW BY CHOICE YOU WILL BE FORCED TO LATER SO CHOOSE NOW.

 

Dodge Magnum.

I have wet dreams about owning one of those things.

 

New car that I want to own... drawing blanks, pretty much. If the much rumored Subaru/Toyota RWD light-weight coupe was already in production - I might have been interested. Right now? Drawing blanks.

If I must choose something or your will decapitate me... Maybe a Honda Fit as an around the town runabout... but I do not really want it either.

 

if you don't have a lot of free way driving, a honda fit would be pretty sweet. like a go-cart.

 

I'm thinking about trading in my beater pickup (1997 Chevy SS) for a Ford F-150. My other cars are pretty decent, however I could use more towing capacity and a larger truck bed, so if I take advantage of the program, that would be the one I'd go with.

 

My choice!
Audi S8!

 

HCP -- that's a good call.

I would think long and hard (that's what she said) about getting a Dodge Charger.

 

charger doesn't qualify - no model gets better than 21 MPG avg.

 

Except I will point out one thing to you. The government kicks in up to $4,500. They get the person buying the car to probably kick in over 20k into the economy. Where if you just give them a $4,500 tax cut, they may or may not spend it, and then they only inject $4,500 into the economy. So by the government giving them $4,500, they get a person to kick $20k+ (If the car cost that much, note disclaimer most cars do.) into the economy.

Now then if you consider the fact that the car companies are going to have to pay taxes on that money, and that workers who work for them that keep their jobs have to pay taxes on their income, the program will partially pay for itself. I can guarantee a mathmatician/economist went through the math and figured out that over the haul, when the taxes come back in, this program will almost completely pay for itself.

 

Oh -- guess I was looking at highway mpg.

 

if anyone is serious about doing this here's the official NHTSA guide that lets you check eligibility
of clunker vs. new -

http://www.fueleconomy.gov/feg/CarsSearchIntro.shtml

 

I would buy a Scion Xb if it is eligible. Then I would buy one that needs rebuilt from a salvage yard. Then I would rebuild the wrecked one using the parts from the new one I just bought. Then I would sell any of the parts I had from the new one that were still good.

Then i would quit paying the loan on the new one and when they came to repo it I would tell them to bring a flat bed and then I would lift the small pieces that were left and place them on the flatbed myself.

Then I could file bankruptcy and not worry about needing a car for at least ten years.

There might be some flaws in this idea, but those could be worked out if I really thought about it.

 

Honda Civic Si

 

That's exactly what I'd do. Only I'd stop after "I would buy a Scion Xb".

Yes, it is eligible and I also have two trade in vehicles that are also eligible - but one is worth way more than the $3500 rebate I'd get. I want the limited edition Red Release 6.0 model:

[video=youtube;BjocIH1nctE]http://www.youtube.com/watch?v=BjocIH1nctE[/video]

BNM