Kia Soul Forums :: Kia Soul Owners banner

1 - 20 of 21 Posts

·
Registered
Joined
·
192 Posts
If you traded in a Clunker for Cash - the Dealer is required to tell you what the Salvage Value of your trade in is.

Question - Did your Dealer/Salesman tell you or show you on your sales order - what the value of your trade in clunker is?

My Salesman showed salvave value of $50.00 and showed a credit for $4550.00 reducing the MSRP of my Soul Plus.

If your not sure - go over your Bill of Sale or Sales Order and see it you find anything listed there as salvage value.

Just curious...

Carl B.
Clearwater, FL
 

·
Registered
Joined
·
528 Posts
Hello From Florida

wow great deal man , i just might have to buy another one ~~i still have an old 1987 dodge van to turn in :p
 

·
Registered
Joined
·
1,003 Posts
My salvage value was $25 only. He said all clunkers were $25 no matter what make or model. I'm thinking it was worth more and they are pocketing the money
 

·
Banned
Joined
·
288 Posts
My salvage value was $25 only. He said all clunkers were $25 no matter what make or model. I'm thinking it was worth more and they are pocketing the money
That's probably true. The dealers are supposed to disclose the scrap value to you, so they can make it whatever amount they want.

I didn't get an estimate of the scrap value, mainly because it's probably only worth $50, and the dealers are supposed to pocket at most $50 to offset the cost of the sodium silicate they have to put in the engine.
 

·
Registered
Joined
·
68 Posts
I read yesterday on CNN that several people that took advantage of this program, are now finding out there old car, which they had already turned in, and received the new car, are not eligible. The program re-evaluated the MPG on some of the clunker cars, making them not fit in the program.

I hope this program works in the end, to think we are spending 1 billion dollars to encourage people to trade in old cars. Which is good for the environment and hopefully the economy too.

While a great deal for the consumer - not so sure what it will do for the tax payer, but heck the Gov spends money like there is no tomorrow!
 

·
Registered
Joined
·
1,003 Posts
cashforclunkersfacts.com has a list of cars that changed for better and for worse:

Now eligible: http://www.cashforclunkersfacts.com/cars-now-eligible.pdf

Not eligible anymore: http://www.cashforclunkersfacts.com/cars-no-longer-eligible.pdf

Also they took a poll of the dealers this weekend and said that based on those numbers, the money will be gone in one week (when it's supposed to run through Nov 1). So if you're still thinking about doing it, you better hurry and do it or you'll miss your chance. Congress has to appoint more money if they run out too fast which could take a couple months seeing how slow they are to do anything.
 

·
Registered
Joined
·
192 Posts
Discussion Starter #9
I read yesterday on CNN that several people that took advantage of this program, are now finding out there old car, which they had already turned in, and received the new car, are not eligible. The program re-evaluated the MPG on some of the clunker cars, making them not fit in the program.
I seriously doubt that is the case. The reevaluated EPA Mileage reduced the original mileage estimates from the 80's and 90's in almost every case. If it wasn't reduced it stayed the same.

I hope this program works in the end, to think we are spending 1 billion dollars to encourage people to trade in old cars. Which is good for the environment and hopefully the economy too.

Having followed this legislation for months as it worked its way though the Congress - I feel that I can assure you that the CARS Program has little to no effect on the environment but it may help the economy a tiny bit.

It was a bit of a political tip of the hat - to the GREEN's that voted for the present Political Party in power.

While a great deal for the consumer - not so sure what it will do for the tax payer, but heck the Gov spends money like there is no tomorrow!
I agree that it is a great deal for consumers - The CARS program was lobbied for by the National Automobile Dealers Association, as a way to help the New Car Dealers just as the Fed's were bailing out the US Auto Makers. People that own New Car Franchises are for the most part wealthy contributors to both political parties and the Financial Melt Down hurt them as much or more than the average group of citizens.

If the program works - that is. if it gets good support - the funding can be increased from $1B to a total of $4B

FWIW,
Carl B.
 

·
Registered
Joined
·
445 Posts
.....the money will be gone in one week (when it's supposed to run through Nov 1).
I hope it runs out very soon. I don't have an eligible vehicle and the rise in demand will make it very difficult to get a good deal. I had hoped to buy mid-August, but with this and the realization that I like "Ignition" orange for a Soul I may have to wait!
 

·
Registered
Joined
·
445 Posts
I saw an article on MSNBC.com yesterday that alluded to this, but didn't really address it.

One thing that bothers me is that when I go to the government website to look up my car (ineligible by a long shot), the data that are there are provided by owners, not any official source. The specific model and year of my car don't even show up, although if you search just right you can find examples for the year before and the year after.

One of the people quoted in the CNN article said the number changed for his car by 1 mpg overnight. I wonder if the original info was an average of use-supplied data and an increase in reporting changed the average.

I still say this program would be better if they elimated the 18 MPG max and specified a defined increase of MPG between the old and the new. It still wouldn't help me under my current plans, but it would catch a lot more low-MPG cars and show a better average increase across the board.
 

·
Registered
Joined
·
192 Posts
Discussion Starter #14 (Edited)
cashforclunkersfacts.com has a list of cars that changed for better and for worse:.
Ah.. THERE IS THE PROBLEM - phony Media Reporting or should I say "Repeating" rather than actual journalistic reporting.

If you went to the Official Web Site - CARS.GOV one of the first things they made very clear was that CARS.GOV was the only "OFFICIAL" site. They warned people not to be mislead by Commercial Sites... If cashforclunkersfacts.com got the facts wrong to begin with - then corrected their unofficial list - that is not the problem of the CARS Program.

Any Dealer that took information from "cashforclunkersfacts.com" etc when taking in a trade-in should be simply "stick" with the trade-in and take the loss. Since the "Dealer" would be considered the "expert" in this case - I doubt any court would make the Customer return the car or pay more...

I believe that the CARS.GOV site made it quite clear that the Official data/information would be made available the 24th of July 2009.

The Official CARS.GOV site shows over Eight Hundred Million remaining of the original One Billion as of the 28th of July. So only about 15% of the Federal Funds have been claimed by dealers so far.

FWIW,
Carl B.
 

·
Registered
Joined
·
1,003 Posts
The Official CARS.GOV site shows over Eight Hundred Million remaining of the original One Billion as of the 28th of July. So only about 15% of the Federal Funds have been claimed by dealers so far.
15% gone on the first weekend is a pretty big chunk. You also have to factor in all the dealers who took trades in and still haven't sent in their paperwork. I know my dealer hasn't sent in my paperwork yet on my new car because of a new loan that popped up for me.
 

·
Banned
Joined
·
288 Posts
Ah.. THERE IS THE PROBLEM - phony Media Reporting or should I say "Repeating" rather than actual journalistic reporting.

If you went to the Official Web Site - CARS.GOV one of the first things they made very clear was that CARS.GOV was the only "OFFICIAL" site. They warned people not to be mislead by Commercial Sites... If cashforclunkersfacts.com got the facts wrong to begin with - then corrected their unofficial list - that is not the problem of the CARS Program.

Any Dealer that took information from "cashforclunkersfacts.com" etc when taking in a trade-in should be simply "stick" with the trade-in and take the loss. Since the "Dealer" would be considered the "expert" in this case - I doubt any court would make the Customer return the car or pay more...

I believe that the CARS.GOV site made it quite clear that the Official data/information would be made available the 24th of July 2009.

The Official CARS.GOV site shows over Eight Hundred Million remaining of the original One Billion as of the 28th of July. So only about 15% of the Federal Funds have been claimed by dealers so far.

FWIW,
Carl B.
They made the list AFTER the EPA updated the MPG information of those vehicles. And just because the official data would be made available on July 24th doesn't mean anything. The program, by law, started on the 1st. And besides, if someone made a deal earlier in the month (like, say, for a Hyundai), and the MPG changed recently, the dealers are going to have to absorb that $1,000... They can't pass it on to the customer because the contracts were already signed, and they knew that there was a risk to beginning before the 24th.
 

·
Registered
Joined
·
278 Posts
I got free soul floor mats and $22.00 for my clunker minivan.. didn't really care , we paid $2500 for it 3 years ago.. drove the crap out of it and turned it in for the $4500.. and got 0.0% financing, Hell of a deal any way you look at it. and they didn't charge any "processing fees" for the clunker program like the government allowed.
 

·
Registered
Joined
·
278 Posts
They made the list AFTER the EPA updated the MPG information of those vehicles. And just because the official data would be made available on July 24th doesn't mean anything. The program, by law, started on the 1st. And besides, if someone made a deal earlier in the month (like, say, for a Hyundai), and the MPG changed recently, the dealers are going to have to absorb that $1,000... They can't pass it on to the customer because the contracts were already signed, and they knew that there was a risk to beginning before the 24th.

Yeah our dealer was saying also that if the government cought a dealer "cooking the books" or fudging info to get more clunker deals, they would get fined $15,000 per clunker.. thats a huge risk for a dealer.. but yeah some dealers went ahead of the official launch, they risked there own money.. they would have to eat that loss.. however if they sold a bunch of extra pre sales and got the business first that may of made up for any risk they took.
 

·
Registered
Joined
·
191 Posts
ineligibility

technically I did not qualify for the clunkers program. my previous vehicle was originally my parents and I purchased it from them 5+ years ago, I never changed the title to my name. their is something to the affect that the person whos name is on the title and has carried insurance for one year prior..... anyway, my dad was not cosigning on the loan therefore I would not qualify. Gas mileage requirements were easily within the range, traded my 99 V8 Ford Explorer AWD Limited <14mpg mixed driving!
I went to the Kia dealership, picked out my soul, and started the whole haggling process. It was actually fun for me!!! basically I told them I was going to wait till the cash for clunkers cause I wanted $4500 for my trade, not the original $3200 value they gave it! knowing I would not qualify anyway... thats a $1,300 increase on a bluff! :D
 
1 - 20 of 21 Posts
Top