Comments on: How to Trade In Your Car With Cash for Clunkers http://www.moneyunder30.com/how-trade-car-cash-clunkers Personal Finance for the Young and Ambitious Fri, 19 Mar 2010 21:32:50 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Cars4Charities http://www.moneyunder30.com/how-trade-car-cash-clunkers/comment-page-1#comment-2699 Cars4Charities Mon, 10 Aug 2009 14:00:47 +0000 http://www.moneyunder30.com/?p=2308#comment-2699 Many cars won't qualify for a voucher because of the mpg requirement or because they don't run. In that case, a good option is charity car donation. By donating your car to charity, you'll get a tax deduction and the charity will get the proceeds from its sale. Many cars won’t qualify for a voucher because of the mpg requirement or because they don’t run. In that case, a good option is charity car donation. By donating your car to charity, you’ll get a tax deduction and the charity will get the proceeds from its sale.

]]> By: Miriam http://www.moneyunder30.com/how-trade-car-cash-clunkers/comment-page-1#comment-2702 Miriam Thu, 30 Jul 2009 19:04:02 +0000 http://www.moneyunder30.com/?p=2308#comment-2702 While this looks like a great deal on the surface, you should take into account whether or not you can pay cash for the car. A car payment and interest that you pay on it would make that rebate worth a lot less money. Another factor to consider is your depreciation factor. The best bet is to get a quality used car when you have enough cash to pay for it. If you have enough cash to buy the car new, then the rebate may help to balance out the depreciation hit that you will take. While this looks like a great deal on the surface, you should take into account whether or not you can pay cash for the car. A car payment and interest that you pay on it would make that rebate worth a lot less money. Another factor to consider is your depreciation factor.

The best bet is to get a quality used car when you have enough cash to pay for it. If you have enough cash to buy the car new, then the rebate may help to balance out the depreciation hit that you will take.

]]> By: Live for Improvement http://www.moneyunder30.com/how-trade-car-cash-clunkers/comment-page-1#comment-2701 Live for Improvement Wed, 29 Jul 2009 19:31:10 +0000 http://www.moneyunder30.com/?p=2308#comment-2701 The Cash for Clunkers voucher is great if you are already looking to buy a new car. It's important to remember that getting a good deal on a new car doesn't automatically mean that you can afford it. I almost tradeed in my clunker, but decided to pass it up because I would ultimately be spending money to save money, which nets a loss. I don't need another car payment, and when my clunker dies in the near future, I will probably buy a used car for a lot less than the price a new car with the voucher. Don't get suckered into buying something you can't afford because it's on sale. -Dan Malone- The Cash for Clunkers voucher is great if you are already looking to buy a new car. It’s important to remember that getting a good deal on a new car doesn’t automatically mean that you can afford it. I almost tradeed in my clunker, but decided to pass it up because I would ultimately be spending money to save money, which nets a loss.

I don’t need another car payment, and when my clunker dies in the near future, I will probably buy a used car for a lot less than the price a new car with the voucher.

Don’t get suckered into buying something you can’t afford because it’s on sale.

-Dan Malone-

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