Cash for Clunker at MSRP of a new car?
I recently bought a Toyota camry 2010 with my trade in car, but im not satisfy with my purchase. I have to pay with the MSRP value with my cash for clunker program. I didn't get to combine the rebate and cash for clunker program. The dealer guy told me that the policy of cash for clunker is that if you trade in your car you have to pay on the MSRP price of the car... For some reason i think it's not true... Can someone correct me?
- Uncle BoLv 71 decade agoFavorite Answer
Total BS. One deal has nothing to do with the other.
You can negotiate any price on a new car. if it has a rebate or special offer, you are entitled to all of that.
The CFC deal is NOT negotiable. You either qualify for the rebate or you don't. Simple as that. That money comes from the US govt and the dealer can't change the rules.
On the 2010 Camry there seems to be some regional rebates. Can't tell if they are dealer incentives or consumer rebates; I'm getting conflicting information. Still, if it is a consumer rebate, that money is yours unless you accepted another incentive like discount financing.
Factory-to-dealer cash is NOT for consumers and dealers are NOT obligated to give you that money.
Bottom line - Sounds like your deal is done, so enjoy your car. Not much you can do about it now except chalk it up to experience and do a better job next time.
- 1 decade ago
This is part of the Obama Hope and Change in action. It should be called More Cash for Dealers , Screw the Average American Program. My father in law went to the Ford Dealer to buy a 2008 Ford Ranger base model. Cars Direct Invoice price was about $13000, MSRP was about $15000, and the sticker price at the dealer was $18500. When he asked the salesman why the sticker price was $18500, he stated that cars were priced that way due to the cash for clunkers program. So essentially the dealer is marking up the MSRP Prices on all vehicles so that they get their rebate from the government and get a sizable profit from the consumer. Another wonderful Obama stimulus gimick that has NO oversight and leaves the American people vulnerable to shady salesman tactics. Wake up America. This guy endorsed Fannie Mae and Freddie Mac. We all know how the housing market is doing today right?
- 5 years ago
While the price increase is apparent, the most likely reason that the Car dealers are making more money is that The cash for Clunkers program encourages people to buy cars that they otherwise would not have bought. The cash they would get for their old car is more than they probably would have gotten for it if they sold it in the first place. If you haven't heard the cash for clunkers program has done so well that its out of money and has been asking for another $ 2 billion to keep going. and anyway what with all the car dealers charging outrageous prices for things you could buy elsewhere for a fraction of the price, e.g. mud flaps, floor mats, the savings that people make are smaller then the discounts that where previously available. Therefore they spend more money on cars and the dealers just rake it in
- euroman71Lv 61 decade ago
Not true. Cash for Clunkers program has nothing to do with dealership giving you money. Government reimburses dealers $4500 for qualified 'clunkers'. That said, you should have negotiated a price and any other rebates or discounts should have applied. Dealer really screwed you. Sorry.
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- PMackLv 71 decade ago
Why didn't you ask this question before you bought the car? On one hand it's too late, you really did get taken here. They might really have such a policy, but I doubt it. If so, it's their policy, and has nothing to do with the government rebate program.
I think they have a "this guys looks gullible lets see if we can get him to pay MSRP" policy.
Legally you don't have a leg to stand on, but them lying to you is unethical to say the least. You could talk to the manager and threaten to go to the media unless they throw you a bone.
- Anonymous1 decade ago
If you happened to go to a dealership that actually had the car you wanted than MSRP is a fair price.. Think about what that stands for..
Manufacturer's Suggested Retail Price. Your lucky to even get a car because nobody has one and the car you gave up probably wasnt' worth anything so, it seems to me you came out ahead.
- mccoybluesLv 71 decade ago
If you accepted their offer and purchased the car it's too late for you. The deal is done and the car is yours. There are no do overs once the contract is signed and the car is delivered.
Why would you sign the contract if you felt the deal wasn't right? Nobody pays MSRP for a car these days, no one.