What did you do with your previous vehicle

[user34fs7jge]

Traded in a 2021 Tesla Model 3 LR and dealer gave $51k. That was close enough to break even for me that I didn't want to bother with trying to sell it myself to pull a profit.

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[Jay144]

My previous vehicles were gone before the Maverick was even available...In March I traded my 2007 Edge SEL with 205,000 miles (that I bought new) for a 2021 Edge Titanium. In April, I sold my 2003 Grand Caravan with 204,000 miles (bought it new, also) and got a 2021 Transit Connect Titanium passenger van.

 

[athertonbt]

Dealer offered 31, Carvana offered 34500. Easy process.

 

[Bushpilot]

Umm, hello, Washington State Police? No, my name isn’t important. If I report insurance fraud, do I get a bounty ?

Oh, I wish it were insured.

 

[PNWMaverick]

We have too many vehicles but we did sell one to try and justify the Maverick.

It was sold to Vroom (do not recommend) because they offered $3,000 more than anyone else. The Maverick is mid transport as of this writing and we should have it in a few weeks.

 

[Egz]

One thing to consider is the tax break you get from a trade in to the dealer as opposed to selling third party. If trade in value for your current vehicle is $15k then you'd have to sell it for about $1000 more third party to come out even.

Do people pay taxes when they sell their car to John Smith? I have sold a few used cars over the years and never did. Always ask for cash and meet in a police station parking lot in the daytime so there is no funny business.

I don't taxes come into play at all for the person selling or trading in. Taxes are usually paid by the buying person when it comes time to title the vehicle. I have never had to pay taxes when privately selling a car.

*Taxes will vary on where you live, this being a point of view of someone living in Virginia in the US.

 

[kmish203]

Do people pay taxes when they sell their car to John Smith? I have sold a few used cars over the years and never did. Always ask for cash and meet in a police station parking lot in the daytime so there is no funny business.

I don't taxes come into play at all for the person selling or trading in. Taxes are usually paid by the buying person when it comes time to title the vehicle. I have never had to pay taxes when privately selling a car.

*Taxes will vary on where you live, this being a point of view of someone living in Virginia in the US.

If you get a trade in value of $15k on a $35k vehicle then you will pay sales tax on $20k, not $35k, on your new truck. That is how my dealer explained it to me in my state. That $15k difference comes out to $1,050 in my 7% sales tax state which is how much more the private party offer would need to be to come out ahead of the trade in offer.

https://www.realcartips.com/selling/010-states-that-allow-trade-in-tax-credit.shtml

 

[gametyme89]

I traded mine in. Went towards the new vehicle, and my sales tax was for the adjusted price of the new truck after applying the value of the trade-in vehicle.

2015 Ford Escape SE with 86k miles for $8,500. Not the best, but quick, easy, and convenient. Entire process done over the phone and through texts.

They came from Alabama the very next day (I live in Louisiana), dropped off my Maverick, loaded up the Escape, and went on their way.

 

[Dad]

I traded mine in. Went towards the new vehicle, and my sales tax was for the adjusted price of the new truck after applying the value of the trade-in vehicle.

2015 Ford Escape SE with 86k miles for $8,500. Not the best, but quick, easy, and convenient. Entire process done over the phone and through texts.

They came from Alabama the very next day (I live in Louisiana), dropped off my Maverick, loaded up the Escape, and went on their way.

One certainly can't beat that for convenience. Beats entertaining all kinds of false dealings with potential buyers and the time spent.

 

[Random]

Carvana check for double it was worth two years prior. They didn’t test drive it or even look inside.

 

[999]

Yes, they will.

So they will pay off the loan and the remainder will go into my account?

 

[Egz]

If you get a trade in value of $15k on a $35k vehicle then you will pay sales tax on $20k, not $35k, on your new truck. That is how my dealer explained it to me in my state. That $15k difference comes out to $1,050 in my 7% sales tax state which is how much more the private party offer would need to be to come out ahead of the trade in offer.

https://www.realcartips.com/selling/010-states-that-allow-trade-in-tax-credit.shtml

Figures, I live in one of the few states that doesn't do that.

 

[Adospeed]

I went full child mode, installed coil overs and slammed it. Note, street sweeper mode is tough in winter.

 

[tomahawk72]

Sold mine to Carmax for a little over what I had left on the loan. I literally made $7 dollars off the sale lol. It was a 2012 CRV with 102k miles in fantastic shape, no regrets

 

[Mach E Leo]

We bought my wife her Volkswagen Beetle Dune convertible used 2 years ago for 19000 sold to the Volkswagen dealership for 25000 last July win win
Sat on the money till delivery in January loving my maverick

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