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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)?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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.”
View full answer
- Gregory R.
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