According to http://www.cars.gov, the government has adopted a program to help get gas guzzlers off the roads.   As with any government program, there are many hurdles to jump in order to qualify for this program. The program will rolled out in about thirty day. as the NHTSA is now formulating the rules.   Below are the highlights:

The Car Allowance Rebate System is a new program from the government that will help you pay for a new, more fuel efficient car or truck from a participating dealer when you trade in a less fuel efficient car or truck.

Your trade-in vehicle must

* have been manufactured less than 25 years before the date you trade it in
* have a “new” combined city/highway fuel economy of 18 miles per gallon or less
* be in drivable condition
* be continuously insured and registered to the same owner for the full year preceding the trade-in

Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.

The amount of the credit is $3,500 or $4,500, and generally depends on the type of vehicle you
purchase and the difference in fuel economy between the purchased vehicle and the trade-in vehicle.  Different requirements apply for work trucks.

The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with the dealer for your trade-in vehicle is not likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle.

As you can see, there is a downside to this program,  as with most that the government institutes. You will only benefit if the salvage value of your vehicle plus the rebate combine to give you a good trade in value.   However, if your car is an older model (generally they were the gas guzzlers), you may find this is a way to part with it and and get enough money for a good down payment.

Do not be fooled.  This is not any additional money for you.   It is just a way to get you on your way to a newer, more fuel efficient vehicle.  The most obvious mistake people can make is to assume that this money will be over and above their car’s trade in value.  NOT!

Contact us if you need assistance in buying a car under this program, or if you just help in cutting through the hassle of purchasing a new vehicle.

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If you ask any car salesperson, they rely on the emotional attachment of the customer to the car they are looking to buy. This is mistake number one.
Although everyone has to love the car they buy, the buying process itself should be devoid of emotion. That way, if your terms are not met, you are comfortable walking away.
To begin the process, determine EXACTLY which car you want, and stick to your guns. Don’t buy something just because the sales department wants to get rid of it. Determine make, model, engine, transmission, trim package, and all options before you begin shopping. This is the only way you are going to get a good cost comparison. Any deviation from your criteria will make a difference in the price.
Recently, internet pricing seems to be the best way to get what you want, and you have it in writing with little or no double talk.
Compare several dealers, and always ask them for the “drive out price” This will include tax, doc fees (total profit for them), and title/tag. When you get this price, print it and take it with you when you go to test drive the vehicle.
Don’t get pulled in by extended warranties. The are extremely pricey and generally only cover catastrophic problems. Most manufacturers are offering generous warranties to begin with.  Finally, you should have a pretty good idea of what you will pay for a vehicle before you ever darken the door of a dealer.  Do your research, compare what listings are out there and KNOW that you will always pay less than advertised.  How much less will depend on how well you negotiate. Remember that whoever blinks first loses.

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