Not sure what to do..

[ThrowbacK]

I just received my built email. My truck is coming between April 26 and May 4. My 2020 Corolla needs a new home… I owe about 12k on it. Ford offered 17,500 for it. CARVANA App offered 21,200. Obviously I like the 21,200 more, but isn’t there a better incentive to trade into dealer?

thank you

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[ThrowbacK]

Also, my new truck is going to be 32k if that matters

 

[Rob Cactus Gray]

if you trade in at the dealer you won’t have to pay sales tax on the $17,500. 6% for Florida plus whatever local sales tax ~2%. So $1,400 value. Makes the trade in value of $18,900. Carvana wins. Check car max and others too.

 

[Johnkn]

On the sales tax issue, check with your state, some will allow the tax credit off the new vehicle sales price even if you sell to other than the new vehicle dealership....


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[LeersMav]

I just received my built email. My truck is coming between April 26 and May 4. My 2020 Corolla needs a new home… I owe about 12k on it. Ford offered 17,500 for it. CARVANA App offered 21,200. Obviously I like the 21,200 more, but isn’t there a better incentive to trade into dealer?

thank you

Try CarMax or Driveway.com ...... The 2nd one may pleasantly surprised you so make sure you're sitting down when you press Submit.

 

[FWDMav]

Tell the Ford dealer that you want $18900 for the Corolla trade or you will sell it yourself.

 

[ThrowbacK]

Tell the Ford dealer that you want $18900 for the Corolla trade or you will sell it yourself.

Why 18,900?

 

[DJF]

Try CarMax or Driveway.com ...... The 2nd one may pleasantly surprised you so make sure you're sitting down when you press Submit.

Just tried Driveway.com and I was pleasantly surprised with the offer.

 

[James L. Harrison]

Just tried Driveway.com and I was pleasantly surprised with the offer.

So how much was the offer?

 

[Adospeed]

In most cases, I'd say save yourself the drama of arriving at the dealer with another variable THEY could potentially leverage and use in THEIR favor.

If you can go in there with just the focus on your truck, I would say you are WAY better off......and telling by the comments, it appears that Carvana or others might be a better route.

 

[pickupdude]

i just sold to carmax and they gave me way more than carvana offered and way more than it blue booked.

 

[MakinDoForNow]

On the sales tax issue, check with your state, some will allow the tax credit off the new vehicle sales price even if you sell to other than the new vehicle dealership....


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Definitely check with your state on proper procedure. In order to get sales tax reduction on your new car purchase you will have to possibly collect the tax from the buyer and turn it in to the state office or possibly provide the receipt proving the buyer paid it (probably you will have to go with the buyer when he transfers title and pays the tax and get a certified copy). If you sell it to another dealer or carvana be sure to get proof of what they pay you and their tax reporting name with number and a statement that they are buying it for resale. If they are buying for their personal use you may have to collect it and then turn it in. Check out possibilities how it can be done in your state.

 

[Angry Hippo]

The dealer won't give you a good trade in value. They're hoping you'll accept being low balled just out of convenience. There is no 'incentive' to trade your car in other than that.

My Ford dealer offered me 5-7k less on my CX-5 than carvana, vroom, autonation, carmax etc.

I found my best price by calling a local used car dealer. With a little bit of haggling and they bought it for more than any of the "we'll buy your car.com" places were offering.

It won't be worth it trying to haggle with the dealer to get fair value for your trade-in. In this market you should sell it elsewhere.

Why 18,900?

That's the approximate amount of difference once taxes are factored in from a Carvana sale.
It's a win-win for the dealership and the buyer. Dealer still gets a car under market value and the buyer still gets a good price and convenience of one transaction.

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