So I have a clunker. A perfect candidate. Let's just say I'm pushing 250,000 miles! If I traded-in my car today, I would be happy to get $200 out of it. So you can see how I would be stoked to jump on board with the Cash for Clunkers program. Getting $4,500 for my clunker is a screaming deal. The downfall though, you HAVE to buy new. Normally, we would never look into buying a new vehicle.
So, here's the debate...
A) Do we forgo the opportunity all together and hope my car keeps running for many years to come? When it dies, buy used.
B) Do we settle on a "cheap" new car to get the $4,500 rebate, then resale it within a year?
C) Do we buy a new "investment" car that we'll keep for many years to come and hurry and jump on this clunkers craze?
The worst part about this is money is running out fast and they may suspend the program all together if the senate doesn't pass additional funding. So, contrary to my typical style, I have to act fast. And yes, I have lost sleep over this. Not sure what to do...
3 comments:
It really is a tough decision to make, and I'm torn with what suggestion I think you should do. I guess if you have time, do more research to see how much you could get the car for, what the payment would be, how much for insurance, etc...and then stand back and look to see if it's really worth it. Good luck!
We have a clunker car that's had it's last breath (Scott's old explorer) so we ended up just purchasing a used car because it was still a better deal then the trade in. But GOOD LUCK it's a hard decision!
Buy used, most dealers are doing their own "cash for clunkers" and they will offer you a similar amount.
P.S. you guys can always ask me or Oliver to find out any info.
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