guess the trade in value

[nxhappy]

Depends on what your time and hassle is worth to you. Between the tax break and not dealing with the hassle of a private sale, it can make a lot of sense to just trade in.

so what is the tax break you will receive for a trade in of $30k ??

 

[Buckwheat 1]

so what is the tax break you will receive for a trade in of $30k ??

Usually the tax break is a reduction in sales tax on the trade in amount.

 

[DHG1078]

so what is the tax break you will receive for a trade in of $30k ??

In Louisiana, the tax rate is 4% I think, so it would save $1200 or so. Some local governments charge an extra 2% on top of the 4%, and i'm not sure if they allow the discount on that extra 2%. If so, it would make it a savings of 1800 ish.

 

[DHG1078]

These states only tax you on the final sale price after incentives and trade ins. So knock 30k off the purchase price and you are only taxed on that.

 

[rotor_powerd]

so what is the tax break you will receive for a trade in of $30k ??

Whatever the sales tax percentage is on that $30,000. Here it's 3% so $900. If I can get an effective trade in of $30,900 and have the deal done vs. spending an unknown number of days or weeks dealing with private buyers to get $35,000, I'd be tempted to pull the trigger. Especially if I'm getting a good deal on the truck that I want.

 

[nxhappy]

guess it depends on the trade offer. Obviously $1200 won't mean shit if they are raping you for $7000 off private party value.

 

[blk02edge]

Its based on what the GT500 is worth.

Yea, but will they give him 34k with a raptor priced 10k, 5k, 0k above msrp? Vehicle value is hardly relevant rather than difference paid

 

[sleek98]

In Kansas it can be close to 9.5% and you don't get the credit unless you trade it in.

On the Missouri side we get the credit if we sell the car private party or trade it in.

 

[BlksvtCobra01]

Gonna say 27k. I think the air bag recall affects these too.


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[13COBRA]

Richard, we're all waiting.

 

[gimmie11s]

my guess is nothing more than $28k. Car has too many miles to fetch "premium" dollars and there are too many "new and exciting" offerings at this time in the same segment that are drawing more attention; gt350, hellcat, new zl1, up coming gt500, Camaro 1le (sick car) etc etc.

all this is great news for us in the buyers market, but shitty news for you and other sellers unfortunately OP.

try CarMax too....

 

[rotor_powerd]

Richard, we're all waiting.

Must be busy signing papers on his new Raptor by the light of midnight oil. Lol

 

[Dusten]

I never understood why people trade in. I mean, you know you're getting boo-food, right?

SMH

Washington deducts trade value from final sales price before calculating sales tax. So getting 30k trade in nets me 3k less in taxes. Now is the effort of a private party sale worth another 2k?

Hell when I traded in my s4 it negated sales tax completely on the car we bought.

 

[Never_Enough]

$25k

I was offered $28k-$32k to buy my Z06 outright by a couple local dealers. (I"m not selling it to buy another car)

 

[black99lightnin]

Is this trade in value based on getting a new raptor at msrp?

I had already negotiated the price on the Raptor at MSRP.

so what is the tax break you will receive for a trade in of $30k ??

They take the trade value off the selling price and you're taxed on the difference. It also goes by what Parish(county) you reside in. For me that would be 8.5%.

In Louisiana, the tax rate is 4% I think, so it would save $1200 or so. Some local governments charge an extra 2% on top of the 4%, and i'm not sure if they allow the discount on that extra 2%. If so, it would make it a savings of 1800 ish.

Wish it was only an additional 2%.

Richard, we're all waiting.

$30K. And I held off for the time being. He is supposed to talk with his GSM and see if they can get me more money.

 

[rotor_powerd]

Right on the money. I'd be surprised if they come up much more.

 

[13COBRA]

That seems a few grand short to me. NADA Clean Trade is $35,750 (meaning they can easily get $42,900 financed on it, or 120% of value). The national auction price shows it should be worth $34,300.

 

[black99lightnin]

That seems a few grand short to me. NADA Clean Trade is $35,750 (meaning they can easily get $42,900 financed on it, or 120% of value). The national auction price shows it should be worth $34,300.

That's what I was thinking. It's not such a bad car to hold on to if I can't make the deal that works for me.

 

[Serpent]

Are you going to try and sell it on your own now? Maybe wait it out and sell closer to summer. I sold my car with intention of buying a sports car during winter (normally cheaper than summer time).

 

[AustinSN]

List it for $38k while you wait for them to get back to you.