Pulling trigger soon, anybody use Ford's $1000 trade-in assistance?
 

Per Ford's website:

I tried to find more details about the program online, but was unsuccessful. When I inquired about it at the dealer, they didn't sound like they understood all the rules either. What I'm interested in learning is likely in the "fine print."

I currently don't have a trade-in, but what would stop me from buying a 1995-or-newer beater on Craigslist, to qualify for the $1000 trade-in bonus? Yes, you could call this "gaming the system" but I don't know why I'm being discriminated against for not having a trade-in either. :)

Does the bonus stack (as in, do I get Fair Market Value on the traded vehicle PLUS the $1000? Example: $500 beater + $1000 trade-in assistance bonus cash = $1500)?

Does Ford's fine print protect them from paying out the full $1000 if the beater is only worth $500? (i.e., is the bonus cash capped at whatever the Fair Market Value is, so a beater worth $500 would only earn $500 trade-in assistance, making it a wash not worth the trouble of finding, buying, and registering a beater)?

Can Ford reject the trade-in assistance if the trade-in doesn't meet its definition of "1995 or newer Ford-Lincoln-Mercury or competitive vehicle"? Does that mean they'll accept a Chevy but not a Hyundai? Does the competitive vehicle have to be a truck if I'm looking at purchasing an F-150?

Ford will pretty much accept anything as a trade in to qualify for this offer...within reason. Ultimately...the dealer you choose to deal with can call Program Headquarters to make sure you qualify.
You must have owned and had registered the trade for a minimum of 30 days prior to the transaction.
The $1000 Rebate doesn't change...doesn't matter what the trade value is.
The trade allowance is determined by the dealer...not by Ford.

Hope this helps!!!

It does help, thank you very much! So the requirement for 6 months of ownership during "cash for clunkers" has been relaxed?

That was a Federal Program...Fords' rules for special programs generally involve 30 days.

Thanks. Someone posted this on another forum:

Do you think Ford will continue offering this incentive beyond 1/3/12?

What kind of documentation does the dealership typically require to validate/verify 30+ days of ownership?

I know every little bit helps but boy that seems like a lot of time and effort for $1000 incentive by the time you find a beater, go see it/drive it/buy it and then go have it registered and pay tax, title, registration, etc. not to mention you may have to have it inspected. Just my opinion but I'd wait another month and maybe incentives will change again.