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Trade-in value?
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10-26-2011, 09:42 AM | #1 |
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Trade-in value?
Curious as to what others are getting in regards to trade-in value on their cars.
Car in question here is in my sig. 48k miles right now & Auto trans. Just a few typical rock chips & a scratch on the decklid that was there when I bought it. |
10-26-2011, 09:47 AM | #2 | |
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If your state doesn't have any tax breaks for trading in a car, then anything you get over KBB or Edmunds "trade in - average condition" is a bonus to you. You can always get a realtime estimate from CARMAX. Their offers are generally slightly higher than dealers although they've declined recently. |
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10-26-2011, 09:57 AM | #3 | |
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I bought car for trade-in value so my trade-in was about $2k below trade-in excellent condition, but i also saved at least 1-1.5k on taxes. when i sold my 335i for cheap $26k pp, trade-in offers were as low as 20-22k |
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10-26-2011, 10:01 AM | #4 |
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Magic-Man, don't know if this helps but I traded in my 2009 328i E90 w/premium package w/heated seats last month. Dealer gave me $27,000 for it (owed $23,000 on it). Bought the car in September 2010, dealer was selling it for $31,00. Hope that helps.
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10-26-2011, 10:13 AM | #5 | |
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10-26-2011, 10:13 AM | #6 | |
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10-26-2011, 10:22 AM | #7 | |
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MD tax is 6%, so if I trade my car in for $30k and buy a new car for $40k, I only pay the 6% tax on the $10k. If I sold my car privately (or to Carmax or to another dealer) then I'd pay tax on the full $40k. Accordingly, I'd have to sell my car for $1800 more privately in order to break even. Many other states are similar. |
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10-26-2011, 10:29 AM | #8 |
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sounds about right. $24k is excellent condition, $22k is average. I bet even at $22k you are not gonna get a killer deal on a car you buy. Ceb explained the tax break, the same in MA. So you pretty much add that amount to your trade-in price....vs pp sale where you would sell higher but will have to pay full tax on new purchase.
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10-26-2011, 10:45 AM | #9 | |
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10-26-2011, 10:45 AM | #10 | |
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10-26-2011, 01:28 PM | #12 |
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Trading is great convenience, but not great on price.
For my 2008 328i E93 w 26k miles, I was offered $27k trade-in and $30k Carmax. Decided to keep the car a few months while waiting for my order and do a private party sale. Ended up selling for $32k (private party) + the savings of a few months of a rental car @ $760/month, so not too shabby! |
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