When to sell, that is the question... - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Blueclyde · 01-16-2011, 04:40 PM

Definitely going to purchase this HP Edition Camaro, no matter what they call it. The question is when to unload the current 2SS/RS.... Thinking of doing it now.

Jcobra · 01-16-2011, 04:44 PM

Sorry to change the subject but what lowering springs are you using.

Blueclyde · 01-16-2011, 04:48 PM

Quote:

Originally Posted by Jcobra

Sorry to change the subject but what lowering springs are you using.

No lowering springs installed. The is a stock stance and it seems low to me compared to others.

2SSRS@Gen5diy · 01-16-2011, 05:00 PM

Don't sale get a weekend car.

*mlee* · 01-16-2011, 05:04 PM

Save on Taxes if you wait and trade it on a Z...

Blueclyde · 01-16-2011, 05:22 PM

Quote:

Originally Posted by 2SSRS

Don't sale get a weekend car.

This is a weekend car, or even less than that. Purchased June 2, 09, 8000 series VIN. I have about 2400 miles on it. This car has never been wet, not even by a hose...

Blueclyde · 01-16-2011, 05:24 PM

Quote:

Originally Posted by mlee

Save on Taxes if you wait and trade it on a Z...

Very good point! I will definitely consider this. The dealer will give me less but that may equal the tax I have to pay.

UCI CamaroFan · 01-16-2011, 06:59 PM

Quote:

Originally Posted by Blueclyde

Very good point! I will definitely consider this. The dealer will give me less but that may equal the tax I have to pay.

but the question is whether the tax savings will be greater than the depreciation taken one year from now...

omegaman · 01-16-2011, 09:00 PM

This isn't precise but the depreciation is around $300 to $350 per month, or about $4000 per year. If you sell now you will avoid the depreciation loss and save yourself 4k.

On the trade-in side of the equation, in 12 months time the value of the car will be roughly 30k. Let's asume the cost of Z/28 is 48k. Difference of new car and trade-in is 18k. 8.5% tax on 18k is $1530. Tax on entire sales price of new car (48k) is $4080. Therefore tax savings on trade-in is $2550 (4080-1530).

Selling the car now will net you roughly $1450 (4000-2550) as opposed to waiting and trading the car 12 months from now.

As this is your weekend ride (mine too) you should seriously consider selling. You will save money.

OldJedi · 01-16-2011, 09:06 PM

I see you are in Detroit, if you do decide to sell the car, would it be better to sell it in the spring or summer after it is warmer and no snow. I have absolutely no experience selling a car up north and I am just asking.

Mark H · 01-16-2011, 11:38 PM

I must be missing something, I've never traded a car in the same time I bought one. What's this tax savings your talking about?
Thanks

camarowa · 01-17-2011, 04:38 PM

Quote:

Originally Posted by Mark H

I must be missing something, I've never traded a car in the same time I bought one. What's this tax savings your talking about?
Thanks

You only pay sales tax on the difference.

h2oplay · 01-17-2011, 04:59 PM

I agree about trading it in, but with that resume, low mileage, never wet, you could get a premium for it selling outright....

omegaman · 01-17-2011, 05:13 PM

If selling the car to a private buyer you should be able to get high book value, or very close to it.

A dealer will not pay high book, but will most likely only pay a special trade-in book value based on "good" condition.

01-16-2011, 04:40 PM	#1
Blueclyde Drives: 2023 ZLE Join Date: Jun 2009 Location: Detroit Posts: 1,717	When to sell, that is the question... Definitely going to purchase this HP Edition Camaro, no matter what they call it. The question is when to unload the current 2SS/RS.... Thinking of doing it now.

01-16-2011, 05:04 PM	#5
mlee CamaroFans.com Drives: ZLE & ZR2 Join Date: Oct 2008 Location: Conroe, TX Posts: 37,973 View My Garage	Save on Taxes if you wait and trade it on a Z... __________________

01-16-2011, 09:00 PM	#9
omegaman Drives: very poorly Join Date: May 2009 Location: Glendale, Arizona Posts: 550	This isn't precise but the depreciation is around $300 to $350 per month, or about $4000 per year. If you sell now you will avoid the depreciation loss and save yourself 4k. On the trade-in side of the equation, in 12 months time the value of the car will be roughly 30k. Let's asume the cost of Z/28 is 48k. Difference of new car and trade-in is 18k. 8.5% tax on 18k is $1530. Tax on entire sales price of new car (48k) is $4080. Therefore tax savings on trade-in is $2550 (4080-1530). Selling the car now will net you roughly $1450 (4000-2550) as opposed to waiting and trading the car 12 months from now. As this is your weekend ride (mine too) you should seriously consider selling. You will save money. __________________ 2013 Camaro ZL1, Crystal Red, Auto, Exposed Carbon Fiber, Navigation.

01-16-2011, 09:06 PM	#10
OldJedi Use the Force Drives: 2015 Corvette Z51, 2018 Porsche GTS Join Date: Jan 2010 Location: Davie, Fl. Posts: 3,862	I see you are in Detroit, if you do decide to sell the car, would it be better to sell it in the spring or summer after it is warmer and no snow. I have absolutely no experience selling a car up north and I am just asking. __________________ Walk softly, carry a light saber and drive a ZL1!

01-16-2011, 11:38 PM	#11
Mark H Drives: 04 Denali Join Date: Feb 2010 Location: stockton ca Posts: 390	I must be missing something, I've never traded a car in the same time I bought one. What's this tax savings your talking about? Thanks __________________ But Officer, I swear its just a vacuum leak. Those red things? those are smog pumps! 2004 Sierra Denali ----- 2/4 drop LSX 438 TWIN TURBO LSX Block Video Block number 00370. Build Date 04/17/2007

01-16-2011, 04:44 PM	#2
Jcobra Drives: 2010 2ss/rs M6 Join Date: Nov 2010 Location: Il Posts: 931	Sorry to change the subject but what lowering springs are you using.

01-16-2011, 05:00 PM	#4
2SSRS@Gen5diy Drives: 2014 Z/28 #82+#192, 18ZLE 66Nova Join Date: Oct 2008 Location: By the lake in AZ Posts: 15,728 View My Garage	Don't sale get a weekend car.

01-17-2011, 04:59 PM	#13
h2oplay Winners find a way Drives: 2010 2LT/RS M6 Join Date: Jun 2010 Location: NE Ohio Posts: 1,137	I agree about trading it in, but with that resume, low mileage, never wet, you could get a premium for it selling outright....

01-17-2011, 05:13 PM	#14
omegaman Drives: very poorly Join Date: May 2009 Location: Glendale, Arizona Posts: 550	If selling the car to a private buyer you should be able to get high book value, or very close to it. A dealer will not pay high book, but will most likely only pay a special trade-in book value based on "good" condition. __________________ 2013 Camaro ZL1, Crystal Red, Auto, Exposed Carbon Fiber, Navigation.

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