Depending upon how old of a car, and how many miles, it may be cheaper to get a new car right now. If not now, then starting sometime in November, lest the Cash for Clunkers gets another cash infusion and extended again.
Likely what will happen due to that program is that new car prices will see a temporary up tick. Once the govt rebate ends, then dealers will be very hard pressed to sell cars again - even harder pressed than before. Most people who wanted a car will pretty much have purchased it with the Cash for Clunkers deal. And you're likely not in a place to take advantage of that program regardless. If you're like most recent college grads, your car is likely registered to your parents, or was within the last year, for insurance reasons. So you wouldn't qualify - you'd fail the requirement that the car you're trading in be registered to you for a minimum of one year.