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I would trade it on a beater... Posted by MisplacedYankee [Email]  (#1756) [Profile/Gallery]
(more from MisplacedYankee) on Tue, 6 Aug 2002 15:49:12
In Reply to: Re: I would like your opinions please - thanks !, SS, Tue, 6 Aug 2002 14:35:28 Members do not see ads below this line. - Help Keep This Site Online - Signup |
...then you can roll the loss over to the beater and pay it out over time - maybe that will help lessen the blow. If you do a dealer trade with your car (which is worth a heck of a lot more) you won't have to pay tax on the beater. Other than general depreciaition most people lose money in the first year due to the tax they had to pay when purchasing the vehicle -- this way you lessen the blow a little (or a lot) depending on how much you downsize. Don't ever let the dealer try and use this as a tactic to give you a bad trade value either -- sometimes they will say "Well you won't have to pay any tax so thats like getting $xxxx.xx more for your trade!".
Now if you are concerned that the dealer will give you a bad trade value then find a buyer locally and work the sale thru the dealer so you can save the tax. I have never worked with a dealer that wasn't willing to do this for me. This always gave me the best of both worlds - reduced tax impact and much better value for my "trade".
Another idea to get maximum value for your car is to put it on a lot for consignment. You crack a deal with the dealer to let it sit on their lot. They usually get $500 for doing this, but you can generally get a lot more for your car because it is sitting on a dealer lot. Worked for me a while back when I had the same situtation and lived in Chicago and did not need a car at all. I waited a month and a half and got a little more than I owed - the dealer made $500 easy cash- everyone was happy. After I sold it I just rented cars on the weekend (when the car rental places had the best deals).
- Joe
posted by 12.37.36...
_______________________________________ Current: 1999 Saab Viggen Other Saabs Owned: 2000 Saab 9-3 Viggen 2002 Saab 9-5 Aero Other Current Rides: 2015 MB GL63 AMG 2014 Jeep Wrangler Unlimited Custom & Lifted 2011 Audi R8 V10 Spyder 6MT 2011 Bentley Supersports W12 2007 Honda CRV
, Tue, 6 Aug 2002 15:49:12 <-- Viewing This Message
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