Cash for Clunkers Question

[alfred russel]

Assuming this program gets more funding, is there anything stopping me from buying a car from a junkyard or something in barely working order for a few hundred and using that to get $4500 off a new car?

[Caliga]

Hey, that's a good idea.

[Grey Fox]

This part :

Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in

[ulmont]

Assuming this program gets more funding, is there anything stopping me from buying a car from a junkyard or something in barely working order for a few hundred and using that to get $4500 off a new car?

Q: Can I go to the junkyard and buy an old car and use it for a trade?

A:  You have to have owned the car for a year and show continuous registration and insurance for the clunker you trade in.  Sp any recent car purchases, trades or transfers would not qualify.

http://www.cashforclunkersfacts.com/bill-faq and see also http://www.cars.gov/faq#category-06

[alfred russel]

Bummer.

[KRonn]

This part :

Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in

Correct. Though if you did have some old gas guzzling junk box, barely worth anything, this is a handy plan for getting some cash saved on a new car.  For people with more fuel efficient older cars (over 18mpg) in need of a new car, this plan is of no use.