Quote:
Originally Posted by exc911ence
Here, the value of the trade-in gets deducted from the sale price of the new vehicle before the 12% sales tax is calculated so you can save a bundle (thus adding value to your trade) if the vehicles are not too far apart price-wise.
That's a major incentive to take less cash on trade vs. a private sale and as stated before, frees you from entertaining a long line of time-wasters walking up your driveway.
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This
I did trade ins twice.
First time was a Ford Tempo I was trading in on a second hand Nissan 240SX. They gave me $2500 for it, coincidentally was what I paid for it 3 years earlier, and it did not run because of the electrical system going to crap. Gave a good price on the 240, they thought they would make it back on the financing. I paid it off in a week, 3 weeks before any of the usury level interest rates kicked in and sort of screwed them.
Traded the 240 in on my wife's next car, played them about the same as the first guys.
PITA to sell stuff private party, but it is sometimes worth it. Sold a pickup my wife had because the dealer would not get within $5000 of what it was worth. She had it 2 years and we sold it for what she paid to buy it.