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Small Victories: Sold our car this morning
Posted on 6/8/19 at 5:36 pm
Posted on 6/8/19 at 5:36 pm
12 year old Nissan with 150k miles. Got $3500 for it.
The dealership that sold us our new (used) car offered $1000 for the trade in. Took two months and about $50 total in insurance costs, but we sold it for $2500 more than what we would have gotten I we settled with the dealership’s offer.
The dealership that sold us our new (used) car offered $1000 for the trade in. Took two months and about $50 total in insurance costs, but we sold it for $2500 more than what we would have gotten I we settled with the dealership’s offer.
4
Posted on 6/8/19 at 6:24 pm to StringedInstruments
Minus the tax benefits of a like kind exchange but you still came out ahead.
Posted on 6/8/19 at 7:19 pm to lynxcat
quote:
Minus the tax benefits of a like kind exchange but you still came out ahead.
How retarded are you? The tax situation doesn’t change, it’s just not a single transaction
Posted on 6/8/19 at 8:10 pm to StringedInstruments
quote:
12 year old Nissan with 150k miles. Got $3500 for it.
Good feeling, isn’t it?
Sold our 2008 Honda Odyssey a couple weeks ago to the second person to look at it for $8,700. Had 125k miles and still ran like a top and drove like a Cadillac. Best offer I had on trade was $5,500. Most were $4,000-4,500.
Posted on 6/8/19 at 9:05 pm to Mr.Perfect
quote:
How retarded are you? The tax situation doesn’t change, it’s just not a single transaction
I think he means you would have saved tax rate xs 1000$ so like $100 lol.
Posted on 6/8/19 at 9:24 pm to Mr.Perfect
quote:Trade in does have a tax benefit to you. If you’re buying a car for $20k and are getting $8k on your trade in, then you only pay sales tax based on $12k difference instead of the full $20k.
How retarded are you? The tax situation doesn’t change, it’s just not a single transaction
But in your case, the sales tax savings from a trade in would’ve been less than $100, so you came out way ahead selling it yourself
Posted on 6/8/19 at 9:38 pm to Tiger Prawn
Yes, exactly.
Sales tax benefit is what I was referencing albeit like-kind exchange may not be the right terminology in this case.
Sales tax benefit is what I was referencing albeit like-kind exchange may not be the right terminology in this case.
Posted on 6/9/19 at 9:46 am to S1C EM
Trade in value will always be lower than private party sale. It doesn’t mean a dealer was trying to frick you. Look them up on KBB. it’s just how it is.
Same thing if you go try to buy a used car and you know the trade in value was 3k lower than what they were asking albeit what they are asking is a fair KBB resale value they will laugh at you. He will show you KBB value and work with you in that range but he ain’t gonna sell it for what it was traded in at lol.
Same thing if you go try to buy a used car and you know the trade in value was 3k lower than what they were asking albeit what they are asking is a fair KBB resale value they will laugh at you. He will show you KBB value and work with you in that range but he ain’t gonna sell it for what it was traded in at lol.
Posted on 6/9/19 at 10:17 am to Fat Bastard
quote:
Trade in value will always be lower than private party sale. It doesn’t mean a dealer was trying to frick you. Look them up on KBB. it’s just how it is.
Same thing if you go try to buy a used car and you know the trade in value was 3k lower than what they were asking albeit what they are asking is a fair KBB resale value they will laugh at you. He will show you KBB value and work with you in that range but he ain’t gonna sell it for what it was traded in at lol.
Ummmm. I never said what was offered on trade wasn’t fair. I’ve been through the process a good 20 times. Also worked in the car business briefly out of college nearly 20 years ago. They have to make a profit. That’s business and no one is blaming them for that. I’m simply saying it’s a good feeling when you put a little time and effort in and get a substantially bigger return yourself. In my case, I was willing to eat three or four months worth of insurance payments if need be. I actually had it sold within a week, so didn’t even have to deal with a full month of the extra vehicle on my policy.
I think you missed my point.
Posted on 6/9/19 at 10:39 am to StringedInstruments
Did you finally sell your rental? IIRC, it had become a money pit for ya.
Posted on 6/9/19 at 12:03 pm to hungryone
Yep. Last summer. So glad to have it off my back.
Posted on 6/9/19 at 6:50 pm to StringedInstruments
how did you advertise it?
Posted on 6/9/19 at 8:31 pm to Jimmy2shoes
Can’t speak for OP, but I posted in several FB yard sale groups and the FB marketplace. I also posted on the Letgo app just to see if it was any more effective, but it seemed to be worthless. Buyer came from one of the yard sale groups.
Posted on 6/9/19 at 11:06 pm to Jimmy2shoes
quote:
how did you advertise it?
Facebook marketplace.
Posted on 6/10/19 at 7:36 am to Mr.Perfect
quote:
How retarded are you? The tax situation doesn’t change, it’s just not a single transaction
Depends on the state. In KS, for example, in order to get credit for a car sold/traded it has to be on the same ticket as the purchase of the new vehicle. In other words, you don't get to reduce the purchase value of the new one by the selling value of your old one unless you trade it in at the dealership.
Posted on 6/10/19 at 7:38 am to StringedInstruments
Just curious. I recently sold a car and paid $5 to Craigslist to list the car. I got a few inquiries the first week. After that week I listed it on Facebook marketplace and some other groups my inbox blew up. Sold in less than three weeks for more than double what dealership offered. 
Posted on 6/10/19 at 11:38 am to Tiger Prawn
I realize in in another state, but I have up to 90 days to sell my old one and still deduct it from price of new one. I have to register within 30 but can apply for a refund.
Posted on 6/10/19 at 2:08 pm to NYCMasterplumber
quote:
I dump my cars around 30,000 miles and this allows the dealer to give me a better price in trade in because of low millage.
Congrats, you are in the extreme minority and contributed zero to this thread.
Posted on 6/10/19 at 3:07 pm to Fat Bastard
quote:
Trade in value will always be lower than private party sale. It doesn’t mean a dealer was trying to frick you.
That's exactly what it means. Of course the dealer is trying to frick you - never forget that for a second.
Posted on 6/10/19 at 5:01 pm to NYCMasterplumber
quote:
I would never sell a car, privately as I do not want the aggravation of hearing someone saying the vehicle had had problems a few months later.
I don’t plan on answering a phone call from the guy ever again in my life.
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