I have been searching online for this all day. I can't seem to find out how the value is determined. But according to the fueleconomy.gov website(below in red) we are suppose to get a credit for the scarp value of our vehicles. Did anyone get this credit on their deals? If so where was it indicated and how? I plan to call scrap yards tomorrow to see what they would value my SUV. I want that I want that credit!
From the website:
Important Things to Know
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Your vehicle must be less than 25 years old on the trade-in date
Only purchase or lease of new vehicles qualify
Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
You don't need a voucher, dealers will apply a credit at purchase
Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
The vehicle that you are trading in is required to be destroyed. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
From the website:
Important Things to Know
--------------------------------------------------------------------------------
Your vehicle must be less than 25 years old on the trade-in date
Only purchase or lease of new vehicles qualify
Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
You don't need a voucher, dealers will apply a credit at purchase
Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
The vehicle that you are trading in is required to be destroyed. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
