Not really. Some issues: eligibility, trade-in value of your old clunker (maybe more than $3,500 or $4,500), also your clunker may worth more than its face value (consider the insurance cost and property tax of a new car).
MyMoneyBlog has did some analysis on his/her own (used) vehicles; and Edmunds.com has a comprehensive article including a FAQ.
Continue reading Is cash for clunker a windfall for consumers?