Quote:
Originally Posted by srcstc
Every time I've gotten a trade in value at a dealership I've been shocked. I don't know why I bothered.
All I did was put it up on Craigslist and it sold in less than a week to the first person that came to see it. And he paid exactly what I was asking.
Sent from my iPhone using Tapatalk
|
I've done both trade and private sale. Both can work for you if you do your research, my last deal I did a trade. Good for me my Uncle retired from GM. I had a GMS number, which means price is locked, I can see the pricing on a login site from GM before going to the dealer. My doc fees are locked as well. So cash or trade I know the price of the new car. I was able to get above NADA for my trade. When I looked at complete sales for same condition cars on websites I traded for about $2,000.00 less than if I had sold it myself, but it saved me about $1400.00 in taxes. When I figure what I make an hour and the cost of ads dealing with the public. It not worth the $600.00 I could have
maybe made extra.
Quote:
Originally Posted by ron scubadiver
Not every state has a sales tax break for trade ins, most notably California.
|
California is just about its own country..LOL
Seems most states allow only having to pay taxes for trade diff which allows the buyer to move closer to a breakeven point vs. private sale.
Quote:
Originally Posted by Ernest T
Most dealers use NADA blackbook which is only available to dealers.
|
Not correct, these are separate books. NADA (National Automobile Dealers Association) is mostly used by Insurance companies, Banks, and Credit Unions. It provides the Retail, Wholesale, and Loan value of vehicles. I've never run across a dealership that uses that as their trade guide. I use it because it on the high side...
PS: The public can use NADA free.. Just go to their site and load in your info on the car.
Blackbook is a dealer tool for getting trade values and you will find that number to be the lower of most guides.
As far as foreign cars holding value better. I think that is more of a thing of the past, now it's more of supply and demand.
Just my thoughts and what I've seen
