Anyone using a trade in when getting your camaro?

[InventoryGuy]

Originally Posted by RallyFever

Never trade in a vehicle if you can help it.
Sell your vehicle privately prior to the arrival of your Camaro.
You'll get more for your card; MSRP or less on the Camaro.

You need to remove the cards from the dealer's hands.....

it all depends......... stop speakiing from prejudice

If you are in a state that taxes off trade differnece then trading is often a better option.

Example: Buying a 31k Camaro with a 8k trade. Trade differnence of 23k. If you have a sales tax of 8%, that means you would have to sell your trade for about 8700 to break even with the overall value. Then take into effect the added grief and exposure of you selling on your own. Did you know that if someone is driving your car on a test drive as an individual and gets in an accident you are responsible?

Basically take the whole picture in when you are doing the deal. And always look at the total drive out price when purchasing, that wil linclude all fees and tax savings and that will tell you the best overall way to go. But is dealing with an upfront dealership worth a few hundred more? Up to you to decide.

[Silverghost]

Originally Posted by InventoryGuy

it all depends......... stop speakiing from prejudice

If you are in a state that taxes off trade differnece then trading is often a better option.

Example: Buying a 31k Camaro with a 8k trade. Trade differnence of 23k. If you have a sales tax of 8%, that means you would have to sell your trade for about 8700 to break even with the overall value. Then take into effect the added grief and exposure of you selling on your own. Did you know that if someone is driving your car on a test drive as an individual and gets in an accident you are responsible?

Basically take the whole picture in when you are doing the deal. And always look at the total drive out price when purchasing, that wil linclude all fees and tax savings and that will tell you the best overall way to go. But is dealing with an upfront dealership worth a few hundred more? Up to you to decide.

This coming from a man whos income is based off this and is biased, sell your car yourself, you will ALWAYS come out better than the dealer can do for you, ALWAYS.

[mcernik]

I ordered my Camaro on Saturday. I through out feelers to all the dealers in the area to find out what they were going to be charging, most came back with MSRP. So the real question was who would give me the most for my trade in.

Yes there are sales tax implications. When you trade in a car that comes off the sales price that gets taxed (at least in Wisconsin). So I had the option

A. Wait till the car came in and then trade in mine. After seeing the Camaro, I would probably take peanuts for my trade just to drive off in it) and it would be 6 months older and worth less.

B. Take cash for the trade in and just put down the deposit. If I did that and came back it would be like I was putting a down payment on it and would have had to pay an extra $900 in sales tax.

C. Get a price for my trade in, give them the car now. ( I went with this option, I got a fair price for the car, dont have to worry about selling it myself in this crumby economy, I get the sales tax break, and I can drop the insurance on the car for the next 6 months)

The car was going to be in storage till April anyway so I'm not really out anything.

[The_Stache]

Keeping my truck unless they offer an obscene amount for it (over 6-7k)..

According to KBB my truck is 3500... its an 04 with 75k miles on it... Its worth more than 3500 to me just in convenience alone. I would rather save up 3500 than trade in a truck that still has 200k miles left in it for peanuts..

[camaro5]

I've got a couple of vehicles I'll be keeping.

My late Dad's Lincoln Town Car. 47K miles, always garaged, like brand new. Can only get $2-3000. No thanks. Same for my 2000 Nissan Maxima. All values have plummeted.