Mine was a 2008 Kia Sorento. It had under 100k miles and I kept it clean. Paint and interior were fantastic. I told my dealer give me 4k for it and I bet you can sell it for 8k in this market. He said sounds good. He was able to sell it within one week for 8k…$2 instead of $1?
Dealer didn't even want to quote my trade-in so the vending machine got it. They've had it for ~2.5 months and still can't sell it. Currently asking $1,240 over what they paid for it, after coming down $3,000.
Totally read that as 2x KBB value and made a bad joke, my bad.
My experience has been that dealerships offers suck big times.
You would not pay any taxes unless you sold it for more than you paid for it which as you mentioned it was old so I doubt that would happen so no taxes at all.
Used car prices vary by region right now. So listen to the advice but do some research locally. Also trading in may have sales tax advantages to factor in. Good Luck!
If you don't trade it in on the vehicle you are purchasing, you will probably have to pay sales tax on the full amount. In Alabama the trade-in reduces the amount sales tax is paid on.
I like to settle on financing and price on the car I am buying. I never talk trade in until then. Then I ask them what they would give me for my vehicle. I will share with them my best offer from Carvana etc. They are a little snippy when you do it that way, but it takes all their leverage away.
Phinney RIdge in the house- Great farmers market and beer next door - Sold our place there a couple years back- Fun area.
Unrelated to your actual question - But how do you know your delivery ETA?
I bought a Maverick as a gap vehicle from Granger, until my Bronco came in. Drove it for 6 months, put 6K+ miles on it. Needed to sell when Bronco came in and got offers from 5 dealers - Carmax, carvana, vroom, givemeyouvin, one other and an Auction Estimate from Carmigo. Most offers were around 33K or little over, Carmigo's estimate was 36.5. Carmigo suggested a reserve at 35.5, I said great. Setup super easy, all online, 1 day auction. Highest bidder was 35.4 - I said sold! Local Transport comes to pick up truck and inspect, I call Carmigo, get a copy of wire transfer emailed on the spot - transport takes truck. Super easy. Bought truck for 26,800 plus tonneau, sold for 35,400. I found the truck on the internet in Indiana, near Chicago for 41,163. Anyway, something you might consider. Very interesting business model, Carmigo is based out of Tupelo, MS. They charge a $350 flat fee. I'll link my referral code below, which will give you $50 (and me a $100 visa card) if you sell through them.
