Trade in value 997 C4S cab
Three Wheelin'
Joined: May 2013
Posts: 1,262
Likes: 16
A few months ago I was looking at an '09 base C2 with about 18K on it which the dealer wanted $58K for. When I had them appraise my '05 base with 50K on it they quoted me a net cost of $40K. When I mentioned KBB they basically laughed at me. Needless to say I laughed back and walked out, but it was quite an eye-opener about trade-ins.
Racer
Joined: Aug 2014
Posts: 366
Likes: 9
I got $53K for my Range Rover Sport as trade in for my 997 Targa 4S. KBB estimated $57K for private sell. With the tax credit I got ($3.2K) the trouble/time requirement of selling it on my own only put me $800 ahead. It just wasn't worth it, so I dropped it off when I picked up the 911.
Rennlist Member
Joined: Apr 2011
Posts: 523
Likes: 5
From: Lower Left Corner
No tax credits in California. Full sales tax duem at time of registration, regardless of who you bought it from or what you sold/traded in. Rate varies, but it's 7.75% in San Diego County.
As a result, there is no incentive to trade to a dealer, other than convenience.
As a result, there is no incentive to trade to a dealer, other than convenience.
Addict
Rennlist Member
Rennlist Member
Joined: May 2004
Posts: 4,782
Likes: 235
From: Half Moon Bay, CA
Racer
Joined: Aug 2014
Posts: 366
Likes: 9
Buyer always pays sales tax. The benefit resides in paying tax only on the difference between your trade-in value and your purchase cost.
I got $53K on my trade-in and was purchasing a $59K 911, so I only paid sales tax on $6K, which was $360. Without a trade-in I would have paid sales tax on the full 911 cost ($59K) which would have been $3.6K.
Not every state offers tax credit on trade-ins. TN does. Hope this was clear.
I got $53K on my trade-in and was purchasing a $59K 911, so I only paid sales tax on $6K, which was $360. Without a trade-in I would have paid sales tax on the full 911 cost ($59K) which would have been $3.6K.
Not every state offers tax credit on trade-ins. TN does. Hope this was clear.
Three Wheelin'
Joined: Mar 2006
Posts: 1,814
Likes: 189
From: Chicago
Buyer always pays sales tax. The benefit resides in paying tax only on the difference between your trade-in value and your purchase cost.
I got $53K on my trade-in and was purchasing a $59K 911, so I only paid sales tax on $6K, which was $360. Without a trade-in I would have paid sales tax on the full 911 cost ($59K) which would have been $3.6K.
Not every state offers tax credit on trade-ins. TN does. Hope this was clear.
I got $53K on my trade-in and was purchasing a $59K 911, so I only paid sales tax on $6K, which was $360. Without a trade-in I would have paid sales tax on the full 911 cost ($59K) which would have been $3.6K.
Not every state offers tax credit on trade-ins. TN does. Hope this was clear.
On a side note, the Lease law changes next year, you will only pay taxes on the lease portion of the car!!
Currently you pay sales tax on the full value of the car.
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Joined: Jul 2014
Posts: 55
Likes: 2
CarMax will offer you about 10-15% less than auction/wholesale. Last year I was offered $15,500 for my 2004 Boxster S by CarMax (original owner, 40,000 miles, dealer serviced). Manheim MMR, the real source for dealers, said 21-22k. On trade I got 21.5.
