We are back! The Real Madness starts now!! www.highthrottle.com will be launching very soon. The Chase Begins Again... High Throttle: Thinking of trading in your old car? We've found our favorite 'Cash for Clunkers' calculator


Monday, July 13, 2009

Thinking of trading in your old car? We've found our favorite 'Cash for Clunkers' calculator

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Automakers are already maneuvering to try to outdo each other to take advantage of the government's Junkyardsmallpg-horizontal Cash for Clunkers program. That's what most of us have been calling the program that offers credit up to $4,500 to turn in an old gas guzzler in exchange for buying a new car.

To help you decide, Drive On has been
looking over some of the various "clunker calculators" that have turned up to tell you the gas mileage and trade-in value of your old car, and how it compares on both factors with the new one. Kelley Blue Book is teaming with Ford to produce the kbb.com "Cash for Clunkers Calculator." Find it by clicking here. And look what Hyundai is finding already:

Hyundai is already jumping ahead of the others with a clunkers program. The brand expects to gain about 10% in additional sales from the program, says John Krafcik, president of the U.S. division. So far, the biggest trade-in is - drum roll please - the Ford Explorer. That glut of Explorers from the late 1990s is going to fill the clunker lot, Krafcik predicts. The Ford brand overall is the most traded-in vehicle. But he says Hyundai dealers are also seeing old luxury cars showing up, including Mercedes-Benz and Cadillac vehicles. What gas sippers are people buying? He said the practical Elantra is most popular so far..

Source: usatoday Via: Kbb


Ju said...

Car dealers are increasing prices for good MPG cars because of the increased demand (artificial) from the cash for clunkers program. Not being critical, but it is basic supply/demand economics.

With the price increases, some markets will will give consumers no net benefit. It is poorly written legislation. Especially since the turned in cars will have a trade-in value equal to the scrap metal -- because all cars under this program must be taken off the road.

So some cars that qualify, may actually be worth more than the redemable voucher. Especially in down-turn economy, since the value of your car increases because more people tend to purchase pre-owned.

I don't qualify for cash for clunkers because my car already gets good gas mileage. But my dad swears by the car buying process here:

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