That's the bad news. But, I'm trading it in on a 991. Dealer in CT is giving me $58k for the trade.

The car is an '08 with 31k, manual 4S in perfect shape. Thoughts? Too little? Ok value? Looking for perspective. (oh $5k off of the sticker on the new ride). Thanks!

 

Sounds like there lo-ballin you on the trade in!

 

I hear you, and feel the same - but what can I do? It took a week of negotiating for them to give me any discount off the sticker of the new car.
Maybe the move should be to buy the car in a different market from where you live - then the dealership would be motivated to deal.
Thx.

 

Don't know about you guys but I never, ever, ever trade in my cars to the stealer. It's a given that they will low-ball it like GOLENJEEPTJ have said. Understandable because they have to resell it and make a profit. Not on my dime though. I have better experience selling it to Carmax and bringing a check back to the dealer as part of the down payment. Just my .02. Of course if there are no time constraint then selling the 997.1 to a private party will yield the most $$. Carmax is in between the stealer and a private party in my opinion and experience.

 

and this is why I love this forum, will go to Car Max this weekend and see what they can do.

Thx!

 

You will have to pay sales tax on the full purchase price if you sell outright to a third party instead of trade.

If you trade you will pay sales tax on the difference between the trade in value and the price of the new car.

In Georgia the sales tax is 7%. 7% of 58,000 is $4,060.

You will need to sell outright for at least $62,060 to break-even.

 

Another option that worked for me was to have the dealer sell it on consignment. Yielded $8k more than trade in amount offered and was then able to take advantage of tax advantage and paid sales tax only on the difference between consignment sale and new vehicle.

Good luck.

 

That sounds great!

Surprise the dealer would do that.

How to they benefit?

 

It's a good thing that Carmax isn't in the business of buying and selling cars and therefore doesn't need to make a profit to keep the doors open!

 

Most dealers will do it and savy buyers know it. Dealer gets another sale and there is no cost to them for doing it. Have done this myself. Motivated my buyer by accepting a slightly lower offer in exchange for there letting the dealer handle the transaction. Everybody wins.

 

That is fine if you're in a state that doesn't charge tax on the full sale value, not the net difference (like CALIFORNIA). Don't know about CT.

I always sell private and negotiate the best cash deal on the next car.

 

Not sure about other states but in Cali, sales tax falls on the buyer. They will pay this when they register w DMV. Let me know if I am wrong. If so, need to delete my profile. Lol
If one were to sell to a private party for instance, the seller do not collect sales tax to send the Uncle Sam. The buyer will pay tax based on the sale amount on the pink slip when he transfer title at the DMV.

 

That is correct.

 

Thanks RaidersR1.