[Cat-Man-Do]

I think it honestly depends. If you can get significantly more for your car selling it privately, then by all means, try and sell it privately. If a dealer decides not to screw you over on a trade in and you live in a state that allows you to pay the difference on sales tax with a trade in when you purchase a new vehicle, then it would probably be wiser to do that. Unless you can get more by selling it privately then you would with the trade in value AND tax break. When I bought my Shelby, the dealer offered to give me $24,000 for my trade in, which was a Focus ST that I paid $25,600 for brand new the year before, so it was a no brainer. It was almost like I lost nothing.

IF I decide to get a hellcat, then I would have to trade my Shelby for it. Whether or not I trade entirely depends on if the Dodge dealer wants to screw me on the trade or not. I wouldn't be making this move until there are charger hellcats on dealer lots, so I have some more time to decide.

You are spot on. I decided to sell my truck outright because I was afraid of getting taken on the trade piece. Doesn't do me any good to get the car at MSRP if they take me for $5k on the trade... My only issue is that now it looks like I am car-less for about a month. Looks like I'll be riding the Harley or borrowing my wife's car....

 

[Cat-Man-Do]

agree on the less hassle, tax beni and I trade 90% of the time, but depends on what you are trading. in this case, I had a GM 2008 4x4 truck in good shape which is easy to sell here in AZ.

 

[Cat-Man-Do]

if you can only sell the car privately for 50, how can a dealer sell for 60? I bet they would only give u 40

you don't get charge tax on the gas guzzler tax do you? I'll be really pissed if we have to pay taxes on the taxes

 

[Cat-Man-Do]

Well, that is some bullshizzy. Good thing I get to write off all that tax on my return. I'm running out of things to donate.

I agree, I don't think they can do that. So I did go look at the POC and the MSRP is cheaper than the the option price, so they must back it out. (so they could add it to the total). So, I'm off the ceiling a little now...

Was also thinking about the trade in vs. selling outright and losing that tax advantage, but at Tammie points out, we can deduct the sales tax on our state taxes. Makes that wash.

 

[Cat-Man-Do]

Can't write sales tax off anymore as of 2014 At least not in Texas

hey I don't want to hear anyone from Texas complaining about taxes you don't pay state income tax!

I think we can deduct still in Arizona better check with my accountant on that...