Should I sell my old car to get an emissions-based rebate from my state government?

"My state has a program that will give you $3,000 if you get rid of your old car and buy a new one.

I have about $7,000 saved up, and with the $3,000 voucher, I'll have $10,000 toward a new car. The car I want is $13,000.

Should I make this deal? Will a lender even finance me for such a small amount ($3,000)?"

Answer provided by
Eric Schad
Answered on Jun 03, 2021
“That sounds like a pretty great deal. If you can get $3,000 for free, why wouldn’t you do it?
As for financing the remaining amount, it doesn’t hurt to ask. If you’re getting a new car, chances are lenders won’t deny you the loan, especially if your credit score is good.
Shop around and you should be able to find a great rate that meets your needs.”

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies