Why is my trade in value so high?
I have a 2002 Flagstaff 228 popup that I bought in 2007 from the original owner for $4500.00. I was quoted in writing a trade in value of $5000.00 when I was looking.at used class c motorhomes at ...
Forum Discussion
Most people are quick to say "sell it outright so you don't get screwed by the dealer on trade." Well you aren't getting screwed as bad as you think sometimes. Obviously if the dealer low balls you big time, then yes he is screwing you. If he offers you trade in value, or even above, then you should consider trading. The higher the number of you trade value, the less tax burden you will have on the new vehicle. I'll use a 2012 Ford Escape as an example. I just traded it in for a Jeep Wrangler Unlimited. The blue book trade value for excellent was approximately $13500. Yes, I got excellent for my trade....it can happen. The 3rd party value is listed at approximately $15200. That is a difference of $1700. My tax burden was reduced on my Wrangler by $13500. At a 10% tax rate, which we have, I had to pay $1350 less in taxes than if I would have not had a trade.
Just to clarify, I did receive a considerable discount on my Jeep that was in line or higher than all other dealers in the area.
So, had I decided to sell my vehicle outright, assuming that someone would actually buy it and pay the full retail price, I would have cleared a whopping $350. How much is your time worth?
Just to clarify, I did receive a considerable discount on my Jeep that was in line or higher than all other dealers in the area.
So, had I decided to sell my vehicle outright, assuming that someone would actually buy it and pay the full retail price, I would have cleared a whopping $350. How much is your time worth?
