'Cuz I did on Friday!
We've been idly discussing a car purchase for awhile. The clunker in question was my '99 Ford Expedition which has 121,000 miles on it. Aside from that vehicle we have a '05 Ford pickup truck and my son has a '00 Chevrolet pickup (both are full size trucks).
My daughter who is a 17 YO senior in HS (as of August 20 :) and I shared the Expedition. Luckily we have a lifestyle in which we don't drive a lot. Since we live within blocks of both my husband's and my work place, which is also where my son attends college, the three of us ride our bikes in daily. My daughter drives to school but that is a 5-mile round trip. The Expedition was purchased when our kids were younger and we were traveling more. As you see by the mileage we got our use out of it!
Anyway, with the economy and especially car sales so affected I started thinking it might be a good time to replace the Expedition aka the pigmobile. Although it was running well it was definitely more car than we now need. Still, a functional paid for vehicle is nothing to toss away lightly, and a functional paid for vehicle that is safe for a new driver and that you don't worry about her dinging (hey who cares) is a Very Good Thing.
So the thought was more or less an idle 'wouldn't it be nice'...until the CARS program was announced. I checked and indeed the tradein/resale value of my car was way below $4500. Only higher level was a 'retail' price and I think those numbers are inflated.
I started shopping and pricing seriously last week assuming the cash for clunkers money wouldn't last till November, the govt estimate of the time frame. However I had no idea a billion dollars would be gone in one week!!! I had narrowed down my car choice to a Ford Fusion but on Thursday I heard the program was suspended. I was irritated but figured oh well it wasn't meant to be.
And then Friday morning I saw in the paper that dealers were still honoring the offer, so I surfed around, called a dealership and confirmed they would be honoring the CARS program at least through midnight. Armed with an internet price quote from them I headed up there Friday afternoon.
And...I am now the proud owner of a 2010 Ford Fusion. I had printed out all the relevant documentation so I got the $4500 with no problem. Ford also has $1500 incentives on that vehicle. Bottom line is I got a car with a sticker price of $23,000 for $15,500. With tax/tag/title and that ubiquitous dealer fee my out the door total was $17,000. I had been prepared to go up to $18,000 so I'm happy. Because stock was low I got them to sell me a model with a sunroof for the same price they quoted me one without. It was a cash deal so no funny business on financing either. I also told the salesman several times I didn't want to wait around and get stuck in rush hour traffic. So the whole thing took only a couple of hours. I arrived in my clunker at 2:30 and drove out in my new car at 5 pm.
I'm really pleased. The old car got gas mileage of about 10-12 MPG. The new one is rated 25 overall, 23 city traffic (which is mostly what we drive). It has all the latest safety equipment, fun to drive and that new car smell. What's that called, the world's most expensive perfume? Both my daughter and I did have a bit of a heartstring tug driving away. As she said, it felt like we left our pigmobile behind. That car served us very well and in some ways I wish we could have kept it awhile. OTOH if we had driven it another year or two the trade-in/resale value would have been even lower. I feel like we got a 25% discount on something we would have been buying anyway due to a series of coincidental economic factors coming together. My husband the ardent conservationist isn't completely thrilled. His take is that 'that car wasn't a clunker, it was running fine'. Which is true I suppose but still on a business basis it makes sense, at least it does to me :).
So, anybody else cash in their clunker?
Ann
stinky-gardener
jakabedy
Related Discussions
Does anyone have a good method to secure cash at market?
Q
Anyone else get Cash for Gold?
Q
Anyone use Cash4Gold?
Q
Cash for Clunkers - two questions
Q
happytobehome
kgwlisa
User
theroselvr
theroselvr
stinky-gardener
jasonmi7
theroselvr
maddielee
jasonmi7
happytobehome
golddust
teacats
happytobehome
stinky-gardener
barb5
jasonmi7
lowspark
stinky-gardener
IdaClaire
Ideefixe
lowspark
theroselvr
lowspark
jasonmi7
golddust
runninginplaceOriginal Author
theroselvr
golddust
IdaClaire
idie2live
jasonmi7
happytobehome
tishtoshnm Zone 6/NM
stinky-gardener
happytobehome
pammyfay
maddielee
golddust
denali2007
teacats
golddust
pris
OllieJane
jones123_123
OllieJane
teacats
jones123_123