Cash for Clunkers Deal

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Old 03 Aug 2009, 10:07 pm   #1 (permalink)
hibb
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Default Cash for Clunkers Deal

just finished a deal today. I got rid of an old Ford van that was
worth less than a thousand and got $3500 in trade. It wouldn't even
start anymore so I had it towed to the dealer. Here's the deal I
accepted:

2009 Toyota Matrix - $21,289 List price

Subtract $3500 for the clunker
Subtract $1500 rebate because the new car was a 2009

Add in sales tax, title transfer and the other crap dealers tack on
Add in $1400 for additional warranty coverage of 5 years or 125,000
miles

Subtract $9000 cash down payment.

Finance $9262.18 at just under 6%.

Still have the 2004 Camry to sell to pay off most of the loan. Dealer
offered me $4300 cash for it so it must be worth more even tho it has
over 173k miles on it. I hope to have this new loan paid off by this
time next year.

I was probably not at my best on this deal. I don't remember dickering
very much. And I must have had a weak moment when I decided to take
the extra warranty. But I still think it is a deal I can live with.
Guess I have to now anyway.

I just hope this Matrix holds up as well as my Camry did.

David
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Old 05 Aug 2009, 03:02 pm   #2 (permalink)
SMS
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Default Re: Cash for Clunkers Deal

hibb wrote:
> just finished a deal today. I got rid of an old Ford van that was
> worth less than a thousand and got $3500 in trade. It wouldn't even
> start anymore so I had it towed to the dealer. Here's the deal I
> accepted:
>
> 2009 Toyota Matrix - $21,289 List price
>
> Subtract $3500 for the clunker
> Subtract $1500 rebate because the new car was a 2009
>
> Add in sales tax, title transfer and the other crap dealers tack on
> Add in $1400 for additional warranty coverage of 5 years or 125,000
> miles
>
> Subtract $9000 cash down payment.
>
> Finance $9262.18 at just under 6%.
>
> Still have the 2004 Camry to sell to pay off most of the loan. Dealer
> offered me $4300 cash for it so it must be worth more even tho it has
> over 173k miles on it. I hope to have this new loan paid off by this
> time next year.
>
> I was probably not at my best on this deal. I don't remember dickering
> very much.


The dealers are using the cash for clunkers kickback in place of cutting
the price. Normally you bargain down from invoice, or up from dealer
cost, on a Toyota, not down from the bogus MSRP.
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Old 05 Aug 2009, 09:51 pm   #3 (permalink)
Shy Picker
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Default Re: Cash for Clunkers Deal

On Aug 5, 4:02*pm, SMS <scharf.ste...@geemail.com> wrote:
> hibb wrote:
> > just finished a deal today. I got rid of an old Ford van that was
> > worth less than a thousand and got $3500 in trade. It wouldn't even
> > start anymore so I had it towed to the dealer. Here's the deal I
> > accepted:

>
> > 2009 Toyota Matrix - $21,289 List price

>
> > Subtract $3500 for the clunker
> > Subtract $1500 rebate because the new car was a 2009

>
> > Add in sales tax, title transfer and the other crap dealers tack on
> > Add in $1400 for additional warranty coverage of 5 years or 125,000
> > miles

>
> > Subtract $9000 cash down payment.

>
> > Finance $9262.18 at just under 6%.

>
> > Still have the 2004 Camry to sell to pay off most of the loan. Dealer
> > offered me $4300 cash for it so it must be worth more even tho it has
> > over 173k miles on it. I hope to have this new loan paid off by this
> > time next year.

>
> > I was probably not at my best on this deal. I don't remember dickering
> > very much.

>
> The dealers are using the cash for clunkers kickback in place of cutting
> the price. Normally you bargain down from invoice, or up from dealer
> cost, on a Toyota, not down from the bogus MSRP.


Like I said, I was not at my bargaining best on this deal. I did look
over my invoice again after I posted the first note and the starting
price before the $1500 rebate was just over $20k not the MSRP I
reported in the OP.

I still think I screwed up when I agreed to the extended warranty.
Weak moment there. But I will have about 125k miles on the car at
about the 5 year mark.

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Old 05 Aug 2009, 11:29 pm   #4 (permalink)
SMS
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Default Re: Cash for Clunkers Deal

Shy Picker wrote:

> I still think I screwed up when I agreed to the extended warranty.


Probably so for a Toyota. Our Toyotas have never had any stuff happen in
year 4 or 5. Either stuff fails early or wear items start need replacing
well past five years.
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Old 19 Aug 2009, 10:33 pm   #5 (permalink)
daverockz
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Default Re: Cash for Clunkers Deal


> GUEST wrote:
> just finished a deal today. I got rid of an old Ford van that was
> worth less than a thousand and got $3500 in trade. It wouldn't even
> start anymore so I had it towed to the dealer. Here's the deal I
> accepted:
>
> 2009 Toyota Matrix - $21,289 List price
>
> Subtract $3500 for the clunker
> Subtract $1500 rebate because the new car was a 2009
>
> Add in sales tax, title transfer and the other crap dealers tack on
> Add in $1400 for additional warranty coverage of 5 years or 125,000
> miles
>
> Subtract $9000 cash down payment.
>
> Finance $9262.18 at just under 6%.
>
> Still have the 2004 Camry to sell to pay off most of the loan.

Dealer
> offered me $4300 cash for it so it must be worth more even tho it

has
> over 173k miles on it. I hope to have this new loan paid off by

this
> time next year.
>
> I was probably not at my best on this deal. I don't remember

dickering
> very much. And I must have had a weak moment when I decided to take
> the extra warranty. But I still think it is a deal I can live with.
> Guess I have to now anyway.
>
> I just hope this Matrix holds up as well as my Camry did.
>
> David


I used the cash for clunkers deal to get a new polar
white 2009 camry best decision of my life, my crap car couldn't
have gone for more than 3500 anyways.

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