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Getting rid of the old vehicle

SKT

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Gotta shop around.

Can’t blame a dealership for not offering top dollar on a trade-in. Most of their money is flipping used cars and the service department. Little profit is made on new cars.

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BillyHW

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I will probably be going for the convenience of a dealer trade-in.

My vehicle isn't worth much to begin with though so I probably won't be losing that much on the trade-in either, considering.
 

cclark20

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Try using Vroom. I sold a 3 year old Ram 1500 to them last Feb. Fairly easy process, sent some photos, mileage, VIN etc. I accepted their offer & they arranged to pick it up. My finance company had the payoff that afternoon & I had a deposit for the balance the next morning. Their purchase offer was significantly better than Carmax, Carvana and the rest of car purchase businesses They also beat the dealer trade in offer by over 4K. I maybe could have worked a couple dealers against each other to get close to that deal with the tax savings. It was definitely easier than doing the trade in back and forth BS with most car dealers.
 

JDMRN81

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My wife and I were looking at a 2018 Jeep GC Altitude and inquired about trading in her 2013 Mazda CX5. KBB private sale was around 14K and local dealer offered 4K. I immediately said no and walked out. I was willing to go as low as 10K to not deal with selling privately. It all worked out for the best because I found the same GC Altitude from a dealer nearby and saved 1K on it compared to the other dealer. And, put Mazda up for sale for 13K and sold it for 12,100 within 3 days. We paid cash for the GC so didn't have to finance anything. Selling privately usually makes the most sense unless the dealer offer is too good to pass up. I'm willing to give up about 3K if it means not hassling with selling privately.
 

tarndesigns

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Anyone have any suggestions on getting out of a lease a year early to get into a JL? Currently leasing a VW GTI... I used to own a YJ and I've been missing it.
 

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galleywinter

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Everyone's talking about trading with the dealer to save on the taxes. It must be a state by state thing. In Arkansas you can still get the sales tax break if you sell to an individual. A bill of sale is required. I know what you are thinking. Why not make a phony bill of sale and save some money. When the buyers goes to the DMV to tag what you sold him and says it sold for X amount and then you tag say your new rig and say it sold for more they will know and you can expect a bill from the state :) Don't ask me how I know. Anyway. I guess we are lucky and can claim the difference on our sales tax on private sales. We have 30 days to tag. We pay our sales tax and tag at the DMV within 30 days. No TT&L done at the dealer. My 2015 loaded, Hard Rock is still listed from $37-$42K used at dealers. Say the dealer comes off that might get it for $35-$36K. Black Book has my trade from $30-$34K. I'd do $34k but you know they aren't giving top trade and I'm not trading for $30K. I'll keep it first. I'll list it on Autotrader, EBAY, Craigslist, etc... for $36K and no less that $33K takes it. Somebody gets a Hella Deal and I get $3K more than what the dealer would do.
 

robplumm

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Everyone's talking about trading with the dealer to save on the taxes. It must be a state by state thing. In Arkansas you can still get the sales tax break if you sell to an individual. A bill of sale is required. I know what you are thinking. Why not make a phony bill of sale and save some money. When the buyers goes to the DMV to tag what you sold him and says it sold for X amount and then you tag say your new rig and say it sold for more they will know and you can expect a bill from the state :) Don't ask me how I know. Anyway. I guess we are lucky and can claim the difference on our sales tax on private sales. We have 30 days to tag. We pay our sales tax and tag at the DMV within 30 days. No TT&L done at the dealer. My 2015 loaded, Hard Rock is still listed from $37-$42K used at dealers. Say the dealer comes off that might get it for $35-$36K. Black Book has my trade from $30-$34K. I'd do $34k but you know they aren't giving top trade and I'm not trading for $30K. I'll keep it first. I'll list it on Autotrader, EBAY, Craigslist, etc... for $36K and no less that $33K takes it. Somebody gets a Hella Deal and I get $3K more than what the dealer would do.
Yeah...VA doesn't take the trade into account for tax purposes. You pay taxes on the sales price before trade-in. Just another effed up law in this state that screws ppl on taxes.

As for trade-in vs private sale...bluebook is minimally different in regard to those on mine ('12 JKUR). So really comes down to convenience.
 

Redneck_Jedi

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so will carmax take a 10 year vehicle with 170 K on it?
Donate it to a charity, and get the tax write-off.

I tend to keep my cars a long time (12+ years), so trade-in wise they aren't worth a whole lot. Most charities are happy to take old high mileage vehicles, because even if they are no longer suitable as reliable transportation, many use them for parts or as auto-mechanic and auto-body teaching opportunities.
 

galleywinter

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Yeah...VA doesn't take the trade into account for tax purposes. You pay taxes on the sales price before trade-in. Just another effed up law in this state that screws ppl on taxes.

As for trade-in vs private sale...bluebook is minimally different in regard to those on mine ('12 JKUR). So really comes down to convenience.
Damn. Full sales tax on a $49K buy. Wow. I'd be dropping steel bumpers, safety group, hard top, etc... from my order. After invoice and 6% discount mine comes in around $48k on a $55K MSRP. If I sell for $34K that gets subtracted from the $48K. I pay on $14k @ 4.5% state around another 1.5% for local. 6% on $14k. I'm cool with that. 6% on the full 48-49K. BS!! But then again we usually come in @ 49th on the poor state rankings. Thank god for Mississippi :)
 

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robplumm

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Damn. Full sales tax on a $49K buy. Wow. I'd be dropping steel bumpers, safety group, hard top, etc... from my order. After invoice and 6% discount mine comes in around $48k on a $55K MSRP. If I sell for $34K that gets subtracted from the $48K. I pay on $14k @ 4.5% state around another 1.5% for local. 6% on $14k. I'm cool with that. 6% on the full 48-49K. BS!! But then again we usually come in @ 49th on the poor state rankings. Thank god for Mississippi :)
Yeah...I was pissed when I bought my last one. Paid $31.5k out the door...so great price, but got taxed on that despite a $10k trade-in. Makes a difference at 4% sales tax

Yeah...VA may not be poor...but we get nickeled and dimed to death. Don't get me started on the yearly property taxes on that vehicle. At $40k, would be paying around $1500/year in property taxes...actually a deterrent to getting a new one.
 

gumbyhoss

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2013 JK Sport - bought for $23.9 in '14 with 2.5k miles. Sold for $22k in '17 with 12.5k miles. Spent about $4k on upgrades but you never see a return on that stuff.

Sold privately. Had it listed on forums, Craigslist, Cars.com, and Ebay. Forums didn't work, Ebay is expensive b/c they take a % if you actually wind up selling though them (I didn't). Craigslist was Craigslist - tons of uninformed lowball calls with cash offers and a few good local leads. The Cars.com listing is what sold it. I think it was $50 to list but I made a few grand more than trade-in.
 

StyleGuy

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Oklahoma gets taxed on the full price also. No allowance for trade in. On a lease we also get taxed on the entire vehicle purchase, then if you decide to purchase later you get taxed again on the buyout price. Two separate transactions.
 

wanderer

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Thanks Katy
 

Matt The Hammer

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We are handing our worthless junk vehicles down to the kids.
Much as I said this before I had my own kids... now? I'm getting my kids the safest car I can. Who more needs all of the newest safety features than a new driver? Especially one that's your own kid.
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