Buying a new truck, trade-in and financing question

Taxes. When you trade in a car, that trade is value is taken off the purchase price.

Example:

$30,000 new car
$7,000 trade in for old car

You pay taxes on $23,000 instead of $30,000.

You also probably have to pay taxes on a private sale as well when you do not with a trade (not sure about that though as I have never sold a car though; only traded them in)

Trade-in credit is what they were talking about. I would not get pre-approved, if you know where your credit is, they you can go to a few sites (like neighbors FCU, your bank, etc) and they will have it online on what their rates are for the term & amount your attempting to finance. I would just go to dealer with "have approval with X bank and they are giving me Y rate, so if you can not beat it, then let's just work on numbers". 95% of my customers at my dealership get their rates beat by one of our lenders (navy federal or usaa are the only ones that give insane approvals & rates on customers that have weak to limited credit customers)

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You alright, Coach?

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The dealership said that I'll miss out on about an $800 credit if I sell my car myself, is there some type of trade in credit I don't know about??

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Some things to consider:

Could you sell your car for $800 more (net of whatever taxes you'd pay) than they're offering on the trade in? What's the cash price on the new car vs. the price with you trading something in? They're not anxious for you to take that credit simply to put a "free" $800 in your pocket. That, I'm fairly certain of.

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Also, when looking at financing options, would I typically get the best rate from my bank or the dealership finance people?

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Whether it's a car or a house, ALWAYS shop rates to get yourself the best deal. There might be a credit union with a better financing option or there might be a better option available from the dealer/manufacturer.