How does the cash for clunkers program work?

Saturday, August 1st, 2009 | Automotive

I have an old 91 Toyota Celica that guzzles gas and barely gets me to work. How does this new program work? If I am eligible, how much would I pay on a new car?
ok I know that I can get up to $4500 for a new vehicle. Got that. What I am asking is how do I know if I qualify? What do they look for? Is the $4500 considered the down payment? Do they still do a credit check? I just want to know the process.
Thanks

Yeah, it’s all kind of confusing. Here’s an article that spells it out pretty clearly. http://www.ehow.com/how_5221986_cash-clunker.html

Hope that helps!

6 Comments to How does the cash for clunkers program work?

Estella
August 2, 2009

You could get up to $4,500 back to go towards a new vehicle
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FleetTech
August 2, 2009

All the information and criteria needed to qualify is at the site below:
http://www.cars.gov
References :

PETER GRIFFIN
August 2, 2009

Celica is a small, fuel efficient vehicle. Therefore, it does NOT qualify.
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xx_satanic_mechanic_xx
August 2, 2009

91 Celica may not qualify.

Of course they do a credit check. You still have to qualify to buy the car if you are financing. Or, pay cash and not get a credit check. Yes, the money is treated like a down payment.

How much would you pay??? The selling price of the car, plus taxes and fees, minus the $4500 (if you qualify)
References :

bethany85g
August 2, 2009

Yeah, it’s all kind of confusing. Here’s an article that spells it out pretty clearly. http://www.ehow.com/how_5221986_cash-clunker.html

Hope that helps!
References :

Lallybroch
August 2, 2009

You can use the Qualification Calculator on Ford’s Cash for Clunkers website. It will tell you what you qualify for.

http://www.mahalo.com/ford-cash-for-clunkers
References :

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