SRT Hellcat Forum banner

Trade ins?

12K views 91 replies 30 participants last post by  april77 
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.
 
Yes they do, but that goes into what I was saying about the tax break. It depends how much profit they want to make off of it. Let's say you have a car you can sell for 50 grand and you want to trade it in for a 60 grand car, but the dealer only wants to give you 45 grand. If they give you 45 grand for it on a trade in for a car that they're selling for 60 grand, when you register that car, you only have to pay tax on the difference, in this case it's 15 grand. So instead of paying tax on 60 grand, your paying tax on 15. New York sales tax is 8.65% If you sold the car privately and paid tax on 60 grand, you'd be paying $8,100 in tax, so you be spending 68,100 on the car. Sales tax on 15 grand is $2,025, so you'd be paying 62,025 for the car. The difference between 68,100 and $62,025 is $6,075, which is greater than the 5 grand difference you would of got if you sold the car privately so in this case, it would pay to trade in, even though your getting slightly less for the car.
 
For sure! I'm definitely down!
Awesome! We need to organize this in another thread. I'm thinkin mid April when the weather starts warming up? We can either meet at a diner for breakfast or something, or get lunch somewhere and hang out for a bit on the parking lot drooling over each others cars lol.

I most likely won't have a Hellcat at that point so I hope y'all don't mind me bringing my 2014 Shelby :p
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top