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Program logo The Toyota Corolla was the program's top seller according to U.S. DoT [1] The Ford Explorer 4WD was the program's top trade-in according to the U.S. DoT [1]. The Car Allowance Rebate System (CARS), colloquially known as "cash for clunkers", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel ...
Time your trade-in: Try to time your trade-in for when your remaining loan balance is less than the value of the car. This gives you positive equity to put toward a new vehicle purchase.
Knowing the current trade-in value of your car is very important, Fix said, and it requires doing some homework and using sources such as the Kelley Blue Book (KBB), True Car and Edmunds.
Negotiate: If you plan to trade your car in at a local dealership, be prepared to negotiate with a salesperson. They’ll try to get the best deal possible to make a profit when they sell the car ...
But you should give your car a thorough cleaning, either in your own driveway or via a car wash service before trading it in. Read more: check out our picks for the best car insurance companies 3.
Incentives may also vary based on how well the car in question performs in these “green” categories. [8] For example, the buyer of a Tesla Roadster, a fully electric vehicle, will receive a much larger tax credit than the buyer of a standard hybrid, which will pollute much more during its lifespan. [9]
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Electric car buyers get a €4000 (US$4,520) discount while buyers of plug-in hybrid vehicles get a discount of €3000 (US$3,390). Premium cars, such as the Tesla Model S and BMW i8, are not eligible to the incentive because there is a cap of €60,000 (US$67,800) for the purchase price.
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