View Full Version : Cash for Clunkers Idea?

08-24-2009, 11:37 AM
Just wanted a quick opinion from you guys. The cash for clunkers program ends today, but I had an idea. I'm in the market for a new vehicle and I do have a worthless clunker that I could get a $4500 value for with the CFC program. I'm not interested in any of the vehicles in my price range, but I thought maybe I could get a vehicle through the program, and retrade it in this week even and make a profit. For example:

I find a vehicle for $13000, and trade in my clunker which brings the final cost down to $8500. Later I bring it to a different dealer as a trade in and make $10000, which is an overall profit of $1500.

What do you guys think about this? I know someone's probably thought of this, but I can't find an answer. Do you think it would work?

08-24-2009, 12:13 PM
i doubt you'll make that much trade-in value off of it.

08-24-2009, 12:59 PM
As soon as the vehicle leaves the lot it looses so much value that you won't make 10g off it unless the car is like a 25k car and then you might as well just buy what you want.

08-24-2009, 03:57 PM
Not only that, but this program has so many restrictions. What vehicle do you have? Just because its a clunker doesn't mean it qualifies for the program.