[HP_Addict19]

My salesman emailed and said they are a KBB Dealer. And once the condition of the car is confirmed. But with that being said, he didn’t give me a straight answer. If the dealership would match what KBB says the car is worth.

 

[2ndAmend]

If I recall correctly, there are 2 KBB values: Trade-in, and Private Sale.

Do what makes you comfortable. Like I said, I do it the hard way, win or lose.

 

[HP_Addict19]

Almost forgot to mention I have to pay 7% sales tax in my state. So yea it’s a no brainer. I’m pretty sure I’m gonna trade it in.

‘And if for some reason they try to screw me on what KBB and Carmax say what the car is worth. I’ll sell the Camaro to Carmax.

I know a lot of guys that either got their money back, made a small profit or took a small loss selling their 3-5 year old cars to Carmax. With low miles and excellent condition.

 

[HDwrenchTX]

I know a lot of guys that either got their money back, made a small profit or took a small loss selling their 3-5 year old cars to Carmax. With low miles and excellent condition.

is there a 4th option I'm not aware of?

 

[HP_Addict19]

is there a 4th option I'm not aware of?

Yes. Some other places will set you up with perks. Like a night with a Hot hooker. Lmao

 

[Xylander]

I heard about a lot of shady shit with Carvana and car titles. F*ck them.

Carvana allegedly leaving car buyers on the hook after selling cars without title

Some buyers have claimed to have waited about a year for the title, well over the 30 days allowed by law in some states for a company to provide the documents

www.foxbusiness.com

Well, that only affects buyers.

 

[Xylander]

is there a 4th option I'm not aware of?

Yeah, it's called a major or regional auction. The car could also be listed on something like carsandbids.com. I've bought and sold from that site, great experiences all around.

 

[HDwrenchTX]

Yeah, it's called a major or regional auction. The car could also be listed on something like carsandbids.com. I've bought and sold from that site, great experiences all around.

break even, profit or loss was the point

 

[Big Swede]

I've never had any problem with cars that were financed

I'm just saying in the example if the car you buy is $80 and they give you $20k for your trade in you pay taxes on the $60k if your trade in is paid off. If you still owe $10k on that trade in then you pay taxes on $70k.

 

[NoCoHC]

Time is money I would take a couple thousand less not to deal with tire kickers. I'm considering trying the Cars and Bids auction site if I sell one of my cars.

 

[ceebydeeby710]

Bring Me the Vin offered $10k more than Vroom for my SS before I decided to keep it. I will pay for the convenience of dealing with a dealer rather than ever trying to sell privately. And I wouldn't mess with Carvana, I don't think they'll be around much longer.

 

[Jon P]

You might want to check your local tax laws. In MO if you trade your vehicle in you will get that tax credit towards your new vehicle as many have said already. However if you sell privately you can still use the sale as a tax credit towards the new vehicle but there is a time limit. Which I believe is 30days from the sale. Basically you have the same time limit to use the tax credit as you do to title the new car.

Just depends on what it is the best financial decision for you. Private sale can run you into a timing issue with the whole tax credit deal. That’s why allot of people just trade it in because they don’t want to hassle with the paperwork. But selling privately usually will net you thousands more then trading.

 

[GNBRETT]

Bro there are only 5 states that dont pay sales tax on cars so u pay sales tax everywhere its common. And most over $50k pay a higher rate. It comes down to the taxes u save from the trade in vs. the money ur losing from selling it privately.

If ur willing to lose thousands then trade it in....... Otherwise put it up for sale. Why do u think all these car sites are giving what u think is decent money for ur car?

Their not being generous bro! They are selling it for WAY more than what the KBB is claiming they are worth so get off the KBB kick and what they are telling u they will give u. Its worth a lot MORE.

Almost forgot to mention I have to pay 7% sales tax in my state. So yea it’s a no brainer. I’m pretty sure I’m gonna trade it in.

 

[Slowpoke387]

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.

THIS.
Everyone knows private sale SHOULD net you more than trading and enough to cover the sales tax savings. And normally it would. Now? Not so much. Have fun weeding through tire kicking low balling time wasters these days. I can tell you that the ease of trading the car in and getting anything close to the same numbers -even if it was a hair less is worth it to me to not deal with the general public lol. And these days? Dealers are offering much more than in the past.
And everyone saying “hey the dealers are going to mark it way up anyway so why not just sell it yourself and get it all?” make it sound so easy lol. A dealer has a much better chance at that than you do.

 

[Xylander]

break even, profit or loss was the point

A person can always sell at auction with a reserve if they're worried about losing money. You just lose more profit if it meets your reserve.

 

[Reaperhwk]

THIS.
Everyone knows private sale SHOULD net you more than trading and enough to cover the sales tax savings. And normally it would. Now? Not so much. Have fun weeding through tire kicking low balling time wasters these days. I can tell you that the ease of trading the car in and getting anything close to the same numbers -even if it was a hair less is worth it to me to not deal with the general public lol. And these days? Dealers are offering much more than in the past.
And everyone saying “hey the dealers are going to mark it way up anyway so why not just sell it yourself and get it all?” make it sound so easy lol. A dealer has a much better chance at that than you do.

To each his own. Never traded a vehicle in always sold private and got way more than the dealers would offer. I would guess I have sold 6 vehicles privately. I make ads that are usually better than the dealers. Lol.
Clean tje cars up nice take them to a nice spot and take nice pics with an SLR. List on multiple sites as well. Make an enthusiast centric ad aboit how great the car was taken care of etc etc.


Tire kickers aren’t a problem there are ways to weed them out.

I actually sold a GTO last week; best offer from any dealers was 15k. Sold it for 23k private. From listing to sold was 2 weeks. Dealers make money of course you make more private sale if you want to put in the work. 8k was worth the 2 week hassle for me no doubt. I actually enjoy it.

I wild guess a redeye hellcat you’d get 15k more of you private sold it? No dealer will offer you a trade in price for what they will sell it for.

 

[Slowpoke387]

To each his own. Never traded a vehicle in always sold private and got way more than the dealers would offer. I would guess I have sold 6 vehicles privately. I make ads that are usually better than the dealers. Lol.
Clean tje cars up nice take them to a nice spot and take nice pics with an SLR. List on multiple sites as well. Make an enthusiast centric ad aboit how great the car was taken care of etc etc.


Tire kickers aren’t a problem there are ways to weed them out.

I actually sold a GTO last week; best offer from any dealers was 15k. Sold it for 23k private. From listing to sold was 2 weeks. Dealers make money of course you make more private sale if you want to put in the work. 8k was worth the 2 week hassle for me no doubt. I actually enjoy it.

I wild guess a redeye hellcat you’d get 15k more of you private sold it? No dealer will offer you a trade in price for what they will sell it for.

15k? Do you think dealers are making 15k on their trade-ins?

 

[Reaperhwk]

15k? Do you think dealers are making 15k on their trade-ins?

I don’t know I’m guessing. Figure they give you 70 or 75k and list it for 85k. I don’t have a red eye that I got trade in offers for and compared it to dealer list prices….. but safe to say I’d say Atleast 10k.

 

[Rio Lobo]

I'm just saying in the example if the car you buy is $80 and they give you $20k for your trade in you pay taxes on the $60k if your trade in is paid off. If you still owe $10k on that trade in then you pay taxes on $70k.

It doesn't matter if you still owe on the trade-in. In your example you would only owe taxes on the $60k difference. Think about it - even if you still owe on your existing car, you've already paid the taxes on it. So they're not going to double tax that $10k you owe.

 

[NoScat]

Thanks guys. Both KBB and Carmax are offering me alot. Just about what I paid for it 4 1/2 years ago. And The power train warranty runs out in December.

Sold!!!!!