Where Everybody Knows You're Numb

A new car for $5,550? More automakers throwing their own cash into 'clunkers' deals

A new car for a net price of $5,550? That's what Kia says that qualified 'clunker' drivers need only pay to own a new Spectra sedan.

Kia is among the growing list of automakers that are putting their own cash against "cash for clunkers" deals. That's the federal program that just began to offer drivers of older, gas-guzzling cars incentives of $3,500 or $4,500 to buy new, more fuel-efficient models.

Chrysler was the first to put its own cash against the deal. It matched the $4,500 that a buyer would receive if their older, gas-guzzling trade-in met the requirements to receive themaximum government incentive. Now, even luxury makers are jumping on board:

BMW is offering a $4,500 eco credit on both its new diesel models, the 335d sedan and X5 xDrive35d SUV. Like Chrysler, you don't have to have a qualifying clunker trade-in to get the BMW discount, but it sure helps to have both automaker and federal incentives. The only BMW diesel that qualifies for the federal dough is the 335d. At a base price of $43,900, it barely sneaks in under the government $45,000 price cap. The X5 has a base price of $51,200. Because both are diesels, they get better gas mileage than comparable gas engines.

Kia is advertising $3,500 of its own cash in addition to the government's $4,500 clunker money for buyers of the Spectra sedan. Since the car lists for $13,550, it figures between the two incentive pots that buyers could leave the lot with a new car for a net price of only $5,550.