SRT Hellcat Forum banner
  • Hey Everyone! Enter your ride HERE to be a part of this months Ride of the Month Challenge!
1 - 20 of 57 Posts

·
Registered
Joined
·
251 Posts
Discussion Starter · #1 ·
What would you guys do? Trade in a 2018 Camaro 2SS 5600 miles. Excellent condition. For my ‘22 Hellcat when it arrives. My salesman sent me a link for online referral with kbb and it’s 500 more than Carmax online appraisal.
‘My salesman said I’ll get a tax credit too trading the car in. Only tax I would pay is on trade difference. Does he mean the cost of the car after the trade in value?
 

·
Registered
Joined
·
683 Posts
What would you guys do? Trade in a 2018 Camaro 2SS 5600 miles. Excellent condition. For my ‘22 Hellcat when it arrives. My salesman sent me a link for online referral with kbb and it’s 500 more than Carmax online appraisal.
‘My salesman said I’ll get a tax credit too trading the car in. Only tax I would pay is on trade difference. Does he mean the cost of the car after the trade in value?
If new car is 80K and they give you 20K for your trade you pay tax on 60K
 

·
Registered
2015 Challenger SRT Hellcat M6
Joined
·
809 Posts
Shop it around and get offers from Carvana, Vroom, and few other online car buyers. Private party sale will probably bring the best price, but then you have to worry about test drives with potential buyers and their level of driving skill in that they won't wrap your Camaro around a tree.

Another option is to check with smaller specialty dealers who sell high performance cars and see if they will sell your Camaro on consignment. One such dealership is the same one I bought my Hellcat from.

 

·
HOTM Winner
2020 Challenger Hellcat Redeye Wide Body
Joined
·
11,553 Posts
Trade it in. You're going to save a few thousand in sales tax on top of whatever theyre offering you.
 

·
Registered
Joined
·
683 Posts
I sold my first hellcat to a ford dealer and he gave me higher than the best KBB cash offer I had WITH the additional 6.25% tax savings we get in my state. so I figured I wasn't losing anything by not trading it in. was a little more than MSRP. I didn't want to deal with private sale because of scammers etc
 

·
Registered
Joined
·
299 Posts
Sell it privately. Ull get way more and even off set the taxes ur saving.

Of course they are offering u a lot cause they are gonna turn around and sell it for a lot more. Why dont YOU sell it for a lot more and put the money in YOUR pocket!
 

·
Registered
2022 Jail Break on order
Joined
·
851 Posts
You’ll get the most money private sale. I just sold a car last week privately and got 20% more than most dealers offered me for it.

Usually if you price the car privately a few thousand lower than dealers are selling for they will come……

The only issue is your going to have to have a clean title with no lien. No one wants to bother with a car with a lien on it. When they pay the best way is go with them to the bank and have them cut you a cashiers check right there. That’s the way I like to do it.

The buyer can even get financing as well. The lender pay them and they can cut you the cashiers check. The lender wants a no lien title though!

If you have a large loan on it you can also use a line of credit like a home equity HELOC to pay tje car off and then get the title. If you flip the car quick it’s no big deal.
 

·
Registered
Joined
·
251 Posts
Discussion Starter · #14 ·
Well, I’m waiting to hear back from the salesman about how much exactly the dealership will give me. Compared to KBB and Carmax. Carmax gives really good and fair prices on newer excellent condition cars with low miles.

Edit: The Camaro is paid off.
 

·
Registered
A Van Down by the River
Joined
·
7,363 Posts
What would you guys do? Trade in a 2018 Camaro 2SS 5600 miles. Excellent condition. For my ‘22 Hellcat when it arrives. My salesman sent me a link for online referral with kbb and it’s 500 more than Carmax online appraisal.
‘My salesman said I’ll get a tax credit too trading the car in. Only tax I would pay is on trade difference. Does he mean the cost of the car after the trade in value?
Most likely come out better to trade for the tax credit as long as they're giving you a fair price for your car.
 
  • Like
Reactions: HP_Addict19

·
Registered
Challenger SRT Hellcat
Joined
·
2,343 Posts
Sell it privately. Ull get way more and even off set the taxes ur saving.

Of course they are offering u a lot cause they are gonna turn around and sell it for a lot more. Why dont YOU sell it for a lot more and put the money in YOUR pocket!
You would think this would be the case but I’d argue the majority of people prefer the ease of buying from a dealer. I can’t tell you how many times I have sold a toy car and offered it private party through auto trader, got either no hits or low baller tire-kickers, and wound up either trading it in or outright selling to a dealership for as much or more (especially with tax savings) than I was asking. And I have clean, well maintained, nice cars when I’m done with them has happened a LOT!

Also try out GiveMeTheVin.com as well.in my experience they have almost always came in substantially higher than even Carvana or Vroom. I’m talking $5k higher.
 

·
Premium Member
.2020 HCNBM6. ...2022 RENB...
Joined
·
2,510 Posts
Simple, just compare the trade-in offer to what you can get elsewhere considering the tax savings. It is highly unlikely the dealer will beat your other opportunities, but the key is whether the difference covers the convenience.

Personally, I do these things the hard way to save 50c. :)
 

·
Registered
Joined
·
299 Posts
Im not referring to the ease of it im referring to how much extra money u make. Of course its easier with a dealer and they love ppl that just dont want the hassle cause they make $5-8k off them.


You would think this would be the case but I’d argue the majority of people prefer the ease of buying from a dealer. I can’t tell you how many times I have sold a toy car and offered it private party through auto trader, got either no hits or low baller tire-kickers, and wound up either trading it in or outright selling to a dealership for as much or more (especially with tax savings) than I was asking. And I have clean, well maintained, nice cars when I’m done with them has happened a LOT!

Also try out GiveMeTheVin.com as well.in my experience they have almost always came in substantially higher than even Carvana or Vroom. I’m talking $5k higher.
 
1 - 20 of 57 Posts
Top