[topvar]

How many of you are waiting for this program, before you pick up your new Soul? My Clunker is a 98 Windstar that I will get $4,500 for. I noticed that one member said on top of the $4,500 he is getting an additional $200 for the scrap value of his car If anyone has more info on this please post it as when I mentioned it to the Dealership today they didn't know what I was talking about. Any extra money back sounds good to me.

 

[Dragonfire]

I am also waiting for the program to start so I can trade in my 94 Isuzu Rodeo, which I'll get $4,500 for (and barely, the Rodeo is 16 mpg and the Soul is 26).

As for the additional $$$ for the scrap value of the car, I've heard conflicting reports on this. Some sites say you'll get this, and some say you won't. What's certain though is you won't get the whole trade-in value (like, if your car was worth $1,000 at trade-in, you won't get the $1,000 since the car won't be resold).

I was hoping there would be some kind of incentive for the Soul, whether it be cash back or low interest rate, but nope. They are offering 0%, but that's for people with perfect credit and it's only for 24 or 36 months.

 

[beckie66]

Here is the official website: http://www.cars.gov/

 

[Dragonfire]

Here is the official website: http://www.cars.gov/

Okay, I went over the FAQs again on this website to see if there were any new/updated ones, and found this:

In addition to the credit, will I get the full value of my trade-in vehicle?

No. The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with the dealer for your trade-in vehicle is not likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle.

So I guess you'll also be able to get the scrap value of the vehicle. Although it obviously won't be too much.

 

[alnbang]

Cash for Clunkers

Since Kia is part of Hyundai and Hyundai has told their dealers to go ahead and accept clunkers. I got the clunker deal last Friday 7/3 here in Phoenix. I got $50 scrap value for my '86 Ford Bronco and the $4500. Thus far, I love my Soul, cars have come a long ways since '86.

 

[Dragonfire]

Since Kia is part of Hyundai and Hyundai has told their dealers to go ahead and accept clunkers. I got the clunker deal last Friday 7/3 here in Phoenix. I got $50 scrap value for my '86 Ford Bronco and the $4500. Thus far, I love my Soul, cars have come a long ways since '86.

What?!? Are you sure? There's nothing on the Kia website about this, and so far on news articles they've only been mentioning Hyundai.

If this is true, then hot dog -- I might get my car next week!

 

[gregx59]

I drove my new Soul away 4 hours ago, and I used the cash for clunkers program, but I didn't get any scrap value. It's contingent on final program terms as delivered to the dealer, but we all know what they are. I'm lovin' it. Wish I'd bought the iPod cable before I left the dealership, I'll be going back tomorrow for one.

 

[JakeCourtney]

I signed all the paperwork for the car and everything, then they made me sign a waiver. My car is parked in storage until the 24th or whenever they decide the final rules on the cash for clunker program. They wouldn't let drive it off the lot.

How are people taking advantage of the cash for clunkers program and being able to drive their cars away while I'm screwed waiting a month. They didn't mention crap to me about the scrap value thing either.

 

[gregx59]

I was kind of surprised they let me take mine, my credit is rocky because of a failed business in the past. But they're evidently confident they can put it together.

 

[wildman]

They are holding mine with a $500 deposit until the 23rd or 24th. They said they can't officially process until the details have been formalized. Only getting 3500 for mine, and they said the scrap value was negotiable, but they don't yet know how that's going to work. My car was worth more, but has a few minor problems, and over 200,000 miles. I felt it was best to get it off the road.

 

[Ebacherville]

MY dealer is making us wait till the final details drop on the 23rd - 24th, as for scrap value, my dealer says they have to disclose the value but don't have to pay me it, I'm going to call that BS if they pull that.. I have put $500 down to hold the car with a check.. so I'm holding the cards on this game..

However the dealers only know as much as we do right now, questions like the scrap value and how taxes are changed, is the $4500 taxed like a trade in value, or is it taxed like cash in the sale... thus why my dealer is waiting..

However scrap value is very little since the recycler can't sell the drive train whole its just the value of the metal in the car for the most part.. figure out your vehicles weight and current scrap metal prices... thats your value.. give or take The dealer can also charge a $50 fee to process the clunker.. so for the person with the old Bronco.. $50 bucks sounds about right.. the cars pretty old and common and parts are not heavily in demand .. about $100 in scrap metal value minus the $50 = $50..

 

[topvar]

I'm also having to wait till the 23rd. I expect to get something for the scrap, even if it is only $50.00

 

[71gremlinx]

The minimum value for scrapping a car would be in the 150 to 250 dollar range, the dealer is can keep 50 dollars of that for their trouble - they must disclose this to you the remainder should be applied as a down payment. Most dealers that have jumped the gun on doing the cash for clunkers program aren't doing this and I have a feeling when they submit their paperwork they are going to have some trouble.

 

[topvar]

Thank you for that info 71Gremlinx. Is there anything I can print out, and take to the Dealer with me to show him how he is required to pay me the scrap value for my Clunker. I am sure there are others on this board who would like to do the same.

 

[lukef03]

I work at Crown Kia in Dublin Ohio and we have been taking cash for clunker cars in for almost 2 weeks now.

 

[topvar]

Hi! Lukef03, How much have you been paying people on average for the scrap value of their car with the cash for clunkers program?

 

[lukef03]

around $100. As a dealership this is so new we have no idea if we are doing it all right but the good thing is if we do it wrong it doesnt hurt the customer at all.

 

[MD-Soul]

I'm having a hard time believing this will all be worked out by the 23rd. The Feds never do anything quickly. I was talking to a salesman last night and he said his dealership is concerned because the way they understand things right now, the check they get from the federal government is going to be considered income and thus taxable. My old beater is worth $3,500 with CARS so I hope they figure it all out quickly so I can get into my Soul.

 

[alnbang]

Wildman, you should get $4500 for your clunker deal, search the web or go to cars.gov. I found this today:
Government Incentives

Starting later this month, the government will give people $3,500 for scrapping gas guzzlers if they buy new cars that go at least four miles further on a gallon of gas, or $4,500 if the new vehicle gets 10 miles more per gallon.

 

[Dragonfire]

Well, the thing is that it HAS to be worked out by the 24th. The law requires it. Although I don't understand how they'll get 20,000+ dealers registered for the program in under 7 business days.

I really hope it begins on time though, because I NEED this car now. Especially since it's one of the hottest summers on record here in Central Texas and my A/C is broken.