What did you do with your previous vehicle

[KCHahn]

Nothing at this point. Waiting for the Maverick to arrive.
Then, I'll probably use tax refund, to do more much needed
work on the current Ranger. May use part of it, to get a few
aftermarket parts I'd like to add.

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[dddinstructor]

I sold my 2005 Toyota Tacoma. Not a four wheel drive, just a pavement princess but she was a great ride while it lasted. 100k miles, great condition, and sold it to a friend for $16,500.

 

[Sykotyk]

Had an 03 Buick Regal that was on palliative care at the point I ordered my Maverick. It died in November for good. It's waiting for spring for a trip to car heaven (junk yard). Bought a beater and drove it for three months. Sold it to a friend who needed it for next to nothing. Back down to just three personal vehicles in my name.

 

[Stealth Raccoon]

My 97 Chevy S10 has less than 120k miles on it - it's not going anywhere; gotta have a spare in case some dirty jobs need done. Thankfully I have space to store a vehicle.

 

[pa-outdoorsman]

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.

Not sure what you mean. What state do you live in? In my state the buyer had to pay sales tax on a private transaction but seller owes nothing. You already bought the vehicle and paid taxes on it. Why would you owe tax when selling?

 

[Braderick]

Sold the 2015 Fiesta ST today, to a dude 1,000 miles away.

I’m $1,800 shy of the original purchase price…after 7 years.

This used car market if FN nutz.

 

[kmish203]

Not sure what you mean. What state do you live in? In my state the buyer had to pay sales tax on a private transaction but seller owes nothing. You already bought the vehicle and paid taxes on it. Why would you owe tax when selling?

You don't owe taxes when selling. You save money on sales tax when you buy a car with a reduced price due to the trade in. I've explained it enough in here, google "trade in tax credit" if you still can't follow.

 

[sparky52]

The book on my 4 year old car (I paid 30k new) was around 23k. Nissan offered me 20k on a Frontier but tried to add 15k ADM, then 5k ADM. I asked 26k at Ford for the trade on the Mav and they offered 23k so I took it. That 23k plus the sales tax break was enough for me. I took the deal. O% financing deal at Ford was a no-brainer.

 

[ThrowbacK]

You don't owe taxes when selling. You save money on sales tax when you buy a car with a reduced price due to the trade in. I've explained it enough in here, google "trade in tax credit" if you still can't follow.

So would it be better for me to trade in my Corolla and get 17,500 from ford or sell to Carvana for $21,000. I owe 13k on it

 

[NCbronco]

I drive my other vehicle 1966 Bronco on the weekend and let the Maverick rest a little.

 

[L Martin]

You don't owe taxes when selling. You save money on sales tax when you buy a car with a reduced price due to the trade in. I've explained it enough in here, google "trade in tax credit" if you still can't follow.

NC auto tax is 3%. So 3% of the difference between trading and selling is rarely a deciding factor.

 

[Dad]

My 97 Chevy S10 has less than 120k miles on it - it's not going anywhere; gotta have a spare in case some dirty jobs need done. Thankfully I have space to store a vehicle.

That S10 grew up to be the Colorado. Both very good trucks.

 

[SnyperX]

Traded my 2015 Nissan Frontier Pro4X with 75k miles for $21,500. Paid off current load and used equity on my Mav.

 

[leap3535]

Does anyone know how it works if my trade in is a leased car that isn't up yet? Would I even get any money for it?? I'm worried I'm gonna have to pay to trade it in

 

[kcamp317]

I put in the info and VIN on my 2016 Ford Escape SE I currently drive to the Carvana website. Its super low miles, around 27K and pretty optioned out. They offered 18,300 for it as of a few days ago. I'll probably go that route whenever my Maverick order comes in (hopefully) later this year. I doubt the dealership could even approach that as a trade in.......used car market is insane right now. We will see how things are looking later on when things actually happen and the order comes in and re evaluate. Funny thing is I didn't pay near that back in 2018 when I bought it used (2 yrs old) with 10k miles on it.

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