[Blackdevil77]

For those of you that may know or have experience with this particular situation, what happens if you want to trade in a car that's worth more than the car you're trading it in for? For example, I have a 2014 Shelby with a little over 7,300 miles on it which the trade in value is more than that of the cost of a new SS Camaro. If I wanted to trade it in for a 2016 Camaro, what happens? Do I get screwed? I'm sure the dealer isn't gonna pay me the balance/difference. I've been trying to sell it privately but it's very hard to find a buyer with that kind of money to buy a car privately, especially at this time of year.

Anybody have any advice/recommendations for me?

[Geno]

Originally Posted by Blackdevil77

For those of you that may know or have experience with this particular situation, what happens if you want to trade in a car that's worth more than the car you're trading it in for? For example, I have a 2014 Shelby with a little over 7,300 miles on it which the trade in value is more than that of the cost of a new SS Camaro. If I wanted to trade it in for a 2016 Camaro, what happens? Do I get screwed? I'm sure the dealer isn't gonna pay me the balance/difference. I've been trying to sell it privately but it's very hard to find a buyer with that kind of money to buy a car privately, especially at this time of year.

Anybody have any advice/recommendations for me?

Bend over and grab your ankle's. LOL

[Blackdevil77]

Originally Posted by Geno

Bend over and grab your ankle's. LOL

I figured that would be the case

[Zeke.Malvo]

If your car indeed is worth more in trade-in than the new car (+ taxes), then yes, the dealership will pay you.

[Blackdevil77]

Originally Posted by Zeke.Malvo

If your car indeed is worth more in trade-in than the new car (+ taxes), then yes, the dealership will pay you.

In my state, you pay the the tax on the difference when you trade a car in. So let's say it's an even trade, then I shouldn't be paying sales tax on the new car. My cars trade in value ranges from 50-52k. 55-57k if sold privately, but that's not easy to do with an expensive car unless it's being sold at a dealership. Nobody really wants to drop that kind of money on a used car from a private seller.

[fastball]

Originally Posted by Blackdevil77

For those of you that may know or have experience with this particular situation, what happens if you want to trade in a car that's worth more than the car you're trading it in for? For example, I have a 2014 Shelby with a little over 7,300 miles on it which the trade in value is more than that of the cost of a new SS Camaro. If I wanted to trade it in for a 2016 Camaro, what happens? Do I get screwed? I'm sure the dealer isn't gonna pay me the balance/difference. I've been trying to sell it privately but it's very hard to find a buyer with that kind of money to buy a car privately, especially at this time of year.

Anybody have any advice/recommendations for me?

The dealer will give you the difference, but you NEVER get from a dealer what you can selling it on your own. The dealer is going to have a ceiling on what is going to be their profit margin and they won't give you a dime more for the car than that. I know it's easier to trade a car in than sell it yourself, but I have gone through the hassle and for the money it's worth it. Especially if you have a really nice car.

If you have a 2014 Shelby Mustang in premo condition I suggest selling it yourself. You'll easily get $3000 more than you can possibly get out of the dealer.

[alaskajoel]

I've had a dealer pay me for the difference between trade and new purchase before. As long as the numbers make sense to them, absolutely they'll pay you for it.

As for trade vs private sell, it depends on a lot of factors. Where I live, it makes more sense to trade it in for $3000 less than selling it myself. A stupid 9.5% sales tax means over $4085 in taxes on a new $43,000 2SS which can be reduced dollar for dollar when trading it in. Effectively, this means that as long as the trade-in offer from the dealership is about 90% or greater compared to whatever I could get private party, I trade. Dealers know this math too, so their best offers tend to be right around 90-94% of private party sales prices.

States and even specific cities or counties vary by their rules though so investigate it before deciding. Trading your car in Montana for example often makes make zero sense because there is not a sales tax benefit at all (no state sales tax in MT.) In Chicago though, we get screwed with 9.5%

[Blackdevil77]

Originally Posted by fastball

The dealer will give you the difference, but you NEVER get from a dealer what you can selling it on your own. The dealer is going to have a ceiling on what is going to be their profit margin and they won't give you a dime more for the car than that. I know it's easier to trade a car in than sell it yourself, but I have gone through the hassle and for the money it's worth it. Especially if you have a really nice car.

If you have a 2014 Shelby Mustang in premo condition I suggest selling it yourself. You'll easily get $3000 more than you can possibly get out of the dealer.

Yeah I know, I've just had horrible luck trying to sell the car the past few months. All the offers I got were such low ball offers, dealerships offered me more for a trade in.

[mt3130]

In this case, it would be stupid to sell the car privately, if the OP values his time at all.

Lets say you sell it private for $55k. Then you take that money and buy a 2SS for $50k. The sales tax rate for Suffolk County, NY is 8.625%, so he will pay sales tax of $4,312.50 on the purchase of the new Camaro.

Same situation except he trades the car in to the dealer for $50k. Since his car is worth the same or more than the Camaro he is buying, and you only pay sales tax on the price difference where he lives, so he would pay no sales tax.


Sell private for $55k, $50k new Camaro costs $54,312.50.
Trade in for $50k, $50k new Camaro costs $50k.


If he sells the car privately, he will make $5k more, but it will cost him $4,300 in taxes plus listing fees, netting him only a few extra bucks for all that work.

[Blackdevil77]

Originally Posted by mt3130

In this case, it would be stupid to sell the car privately, if the OP values his time at all.

Lets say you sell it private for $55k. Then you take that money and buy a 2SS for $50k. The sales tax rate for Suffolk County, NY is 8.625%, so he will pay sales tax of $4,312.50 on the purchase of the new Camaro.

Same situation except he trades the car in to the dealer for $50k. Since his car is worth the same or more than the Camaro he is buying, and you only pay sales tax on the price difference where he lives, so he would pay no sales tax.


Sell private for $55k, $50k new Camaro costs $54,312.50.
Trade in for $50k, $50k new Camaro costs $50k.


If he sells the car privately, he will make $5k more, but it will cost him $4,300 in taxes plus listing fees, netting him only a few extra bucks for all that work.

Exactly, you are 100% correct and you think exactly like me. Only thing I was questioning is the Camaro I get probably wouldn't be 50k, odds are it would be worth less than what the trade is worth. It was that scenario that I was wondering what happens. The difference probably wouldn't be much, but if they throw me the difference, then it certainly is a no brainer. They'll probably be much less inclined to give me a discount on the car though if they already owe me money just by paying sticker.

[hognutz]

Originally Posted by Blackdevil77

Yeah I know, I've just had horrible luck trying to sell the car the past few months. All the offers I got were such low ball offers, dealerships offered me more for a trade in.

have you just tried ebay??? I sold my zl1 there but not much over trade in value.


I hate trading in because you have to negotiate two deals basically but when I sold my z06 I sold it for the exact same money as one dealer offered me trade so I kicked myself.


if you do try to do the trade I would work the deals separte. IE negotiate what they will pay for the GT500. then what the SS will be. I mean you should be able to get supplier/affialate price ~300 or so under invoice pretty easy. not sure if they are doing any better than that yet.

they would basically being giving you money back at the end if you own the GT500 but if it makes sense to them they will.

[Blackdevil77]

Originally Posted by hognutz

have you just tried ebay??? I sold my zl1 there but not much over trade in value.


I hate trading in because you have to negotiate two deals basically but when I sold my z06 I sold it for the exact same money as one dealer offered me trade so I kicked myself.

I tried Ebay, Cars.com and Craigslist. Cars.com and Craigslist generated absolutely no activity at all, what so ever. Not even one low ball offer from those 2. Ebay just generated a lot of low ball offers. Any recommendations of where I should try selling this car?

[mjgocamaro_girl]

I would recommend you price your Camaro. My 2SS is going to be close to $51,000 + tax and fees. The 2SS has lots of options included but when you start to add things like MRC, NPP, wheels, etc price can get up there.

[mjgocamaro_girl]

My dad was trying to convince me to buy a 2014 Shelby instead of the new Camaro. He has a 2011 Shelby and says I am crazy for going with the Camaro. I like the Camaro because it has performance and IMO also more luxury gadgets and comfortable interior.