[Magic-Man]

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.

[ceb]

Originally Posted by Magic-Man

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.

Hard to say. Used prices are still pretty high right now but (depending on your state tax laws) a private sale may yield more money.

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.

[Kolyan2k]

Originally Posted by Magic-Man

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.

that depends what you pay for your new car. $24k max, but offer can be as little as $20k

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

[Strepthroat]

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.

[Magic-Man]

Originally Posted by Kolyan2k

that depends what you pay for your new car. $24k max, but offer can be as little as $20k

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

The highest trade offer I got was $22k & lowest was $19k

[Magic-Man]

Originally Posted by ceb

Hard to say. Used prices are still pretty high right now but (depending on your state tax laws) a private sale may yield more money.

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.

What tax breaks? I've never gotten a tax break trading a car in.

[ceb]

Originally Posted by Magic-Man

What tax breaks? I've never gotten a tax break trading a car in.

Depends on your state. In MD, for example, you only pay sales tax on the difference between the value of your trade and the cost of your new car if done in one transaction.

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.

[Kolyan2k]

Originally Posted by Magic-Man

The highest trade offer I got was $22k & lowest was $19k

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.

[Magic-Man]

Originally Posted by ceb

Depends on your state. In MD, for example, you only pay sales tax on the difference between the value of your trade and the cost of your new car if done in one transaction.

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.

Well, my new car is going to be a lease.

[Magic-Man]

Originally Posted by Kolyan2k

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.

Don't need to trade my car so no problem waiting till I sell it myself.

[MVK2012]

you will always get raped trading in the car. They gotta make a profit some where

[eisenb11]

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!