I was just offered $51,500 by a dealer...

[JSFoster75]

I have a 2019 Mojito JLUR with 31,500 miles on it, https://givemethevin.com/ offered me $51,500 for it as a straight out purchase (or I can work with one of their dealerships on a trade)...

Factory Options on my Jeep:

• Adaptive Cruise Control
• Leather
• 8.4" UConnect
• Proximity Door Locks
• Steel Bumpers
• LED Lighting
• Paint Matched Hard Top & Fenders
• 2.0L 4cyl E-torque w/8 Speed Auto Trans
• Blind Spot Monitoring & Parking Sensors
• Headliners
• Remote Start

Aftermarket options:

• Front Bumper Hoop
• Rough Country 9500S Winch
• 6 wirelessly controlled LED Pods (Trigger Six Shooter Plus)
• 8 White/Amber Strobe Lights
• Tow Hitch with 4-Pin Flat Connector
• ACE Rock Rails/Sliders
• Brawlee rear LED Light Bar (Color changing)

Here's my hang up... I'd like to sell it outright for $55,000, but in TN I would only pay tax on the difference. If I trade for a vehicle that costs less than the trade-in value, I wouldn't pay any taxes. Right now I have enough equity in the Jeep to trade it for a $12,000 car and I could completely eliminate my payment and save myself the $800+/mo that I pay on it... (I overpay my bi-weekly payments)

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[hiimmike]

$800 a month seems to be a lot for a car. Then insurance and fuel and mods, etc. Maybe you make a lot of money though, I go by % of income so your household income is probably up around $250k/yr which is higher than mine and so we probably spend the same percentage of our income on a vehicle payment.

 

[mwilk012]

To the OP, just do the math on the specific vehicle you would purchase on trade in. The tax on it may be lower than you would think.

 

[JSFoster75]

$800 a month seems to be a lot for a car. Then insurance and fuel and mods, etc. Maybe you make a lot of money though, I go by % of income so your household income is probably up around $250k/yr which is higher than mine and so we probably spend the same percentage of our income on a vehicle payment.

the actual payment is under $600/mo., I just overpay it

 

[JbuckTN]

I have a 2019 Mojito JLUR with 31,500 miles on it, https://givemethevin.com/ offered me $51,500 for it as a straight out purchase (or I can work with one of their dealerships on a trade)...

Factory Options on my Jeep:

• Adaptive Cruise Control
• Leather
• 8.4" UConnect
• Proximity Door Locks
• Steel Bumpers
• LED Lighting
• Paint Matched Hard Top & Fenders
• 2.0L 4cyl E-torque w/8 Speed Auto Trans
• Blind Spot Monitoring & Parking Sensors
• Headliners

Aftermarket options:

• Front Bumper Hoop
• Rough Country 9500S Winch
• 6 wirelessly controlled LED Pods (Trigger Six Shooter Plus)
• 8 White/Amber Strobe Lights
• Tow Hitch with 4-Pin Flat Connector
• ACE Rock Rails/Sliders
• Brawlee rear LED Light Bar (Color changing)

Here's my hang up... I'd like to sell it outright for $55,000, but in TN I would only pay tax on the difference. If I trade for a vehicle that costs less than the trade-in value, I wouldn't pay any taxes. Right now I have enough equity in the Jeep to trade it for a $12,000 car and I could completely eliminate my payment and save myself the $800+/mo that I pay on it... (I overpay my bi-weekly payments)

I read this and understand your payment situation, but I am not sure of your question. I am not sure about the givemeyourvin, you may want to search the BBB on them, as they have several complaints. So for reference, if you trade-in your car and purchase a new $12,000 you are looking at just south of $1,000 tax. I did something similar and ended up trading in getting about $500 less including tax, but no hassle from selling it one place, and going to another to buy. Hope that makes sense. Now, what is your question?

 

[hiimmike]

the actual payment is under $600/mo., I just overpay it

Smart man! My wife doesn't understand why she cannot have a $550 car payment when she makes $34k/yr.... I told her to go move back with her parents.

 

[Billy Baldone]

I totally understand what you are trying to do. Unfortunately, a $12000 car today is what a $6-7k car was 2 years ago.

 

[hiimmike]

It sounds like you have plenty of equity in the vehicle, I say keep it until you MUST sell it. I think it will all work out as others have mentioned whose posts have been deleted, you're not currently at risk of losing an income. That's definitely a valid concern though.

 

[Carlton]

I have a 2019 Mojito JLUR with 31,500 miles on it, https://givemethevin.com/ offered me $51,500 for it as a straight out purchase (or I can work with one of their dealerships on a trade)...

Factory Options on my Jeep:

• Adaptive Cruise Control
• Leather
• 8.4" UConnect
• Proximity Door Locks
• Steel Bumpers
• LED Lighting
• Paint Matched Hard Top & Fenders
• 2.0L 4cyl E-torque w/8 Speed Auto Trans
• Blind Spot Monitoring & Parking Sensors
• Headliners

Aftermarket options:

• Front Bumper Hoop
• Rough Country 9500S Winch
• 6 wirelessly controlled LED Pods (Trigger Six Shooter Plus)
• 8 White/Amber Strobe Lights
• Tow Hitch with 4-Pin Flat Connector
• ACE Rock Rails/Sliders
• Brawlee rear LED Light Bar (Color changing)

Here's my hang up... I'd like to sell it outright for $55,000, but in TN I would only pay tax on the difference. If I trade for a vehicle that costs less than the trade-in value, I wouldn't pay any taxes. Right now I have enough equity in the Jeep to trade it for a $12,000 car and I could completely eliminate my payment and save myself the $800+/mo that I pay on it... (I overpay my bi-weekly payments)

I just entered the information for my 2021 JLURXR with 500 miles. They offered me 2k less than what you got for your 2019 with 30k+...

 

[intentsrig]

Just make sure you really want to get rid of it before you do it.

I have definitely had regrets from selling a vehicle.

 

[The Last Cowboy]

What can you buy for $12k? Maybe a decent YJ if you want to stay in a Jeep.

 

[Litfury]

I’m a big Dave Ramsey fan so I’m all about being debt free. Figure out what your goals are for the next few years, and if you can achieve them by keeping the Jeep by all means do so. If your goals can’t be met with the Jeep and you need to make some tough decisions there is absolutely nothing wrong with that either.

 

[starrs]

Get rid of the payments. If you can’t pay cash don’t buy it yet. I love jeeps, but it’s a rolling brick that sucks money daily. 600+ for a jeep is insane.

 

[starrs]

I’m a big Dave Ramsey fan so I’m all about being debt free. Figure out what your goals are for the next few years, and if you can achieve them by keeping the Jeep by all means do so. If your goals can’t be met with the Jeep and you need to make some tough decisions there is absolutely nothing wrong with that either.

He would say get rid of the jeep now! Lol

 

[linux_guy]

He would say get rid of the jeep now! Lol

I bet he is a hoot at parties too.

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