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Discussion Starter · #1 ·
Yo, I went to 2 seperate Honda dealers (please don't ask why in fear of being flamed), they offered ~ $20k, wouldn't budge. I tried convincing them it's worth more than that. KBB lists about $22.5 for good, $24.1 for excellent condition. I'm telling you my ride is CLEAN. '01 330Ci 44,000 miles 5 spd, prem, sprt pkg, xns, hk. Any thoughts? Not worth it, right?
 

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thats wierd. i just traded in a 2000 328ci w/ premium and no sport or xenon for $18,000. It had 46,000 miles btw. I think you can do better. I am now waiting for new E90 :woot:

byunts said:
Yo, I went to 2 seperate Honda dealers (please don't ask why in fear of being flamed), they offered ~ $20k, wouldn't budge. I tried convincing them it's worth more than that. KBB lists about $22.5 for good, $24.1 for excellent condition. I'm telling you my ride is CLEAN. '01 330Ci 44,000 miles 5 spd, prem, sprt pkg, xns, hk. Any thoughts? Not worth it, right?
 

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Der Meisterstück
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Kelly Blue Book unfortunately is no longer the source for used car values anymore. Dealers only use KBB if the number are in their favor, i.e. when selling the used car off the lot. Trade-ins are an entirely different story. Dealers and insurance companies do not refer to the KBB numbers when they are paying you or buying a car off of you. They refer to true "market" value. Usually "market" value is lower than KBB. Market value like its name sake, is the actual price indexed for your vehicle determined by market conditions effecting your car's value. Conditions such as market demand for the vehicle in question...
 

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yea sell it privately duuude

i remember this one dealer offered me $6500 for my 2000 solara with 70k miles. Which was like $3000 less than the dealer trade in.

"STEALERSHIPS"
 

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FrankieFlamez said:
That's true - but when you trade your car in you save on the taxes.
But we're talking a considerable difference in price, enough to offset the tax credit, and then some. Recently, the dealer offered me $19k for my '01 Z3, but I sold it privately for $25. I'll take $6k over a measly $1200 tax credit (on a $30k car.)
 

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That is actually trade-in value. 02 Ci's at 20sth miles sell at 28k. 01's at your mileage sell at 23 or maybe 24. So that's about right for trade-in. With the tax break, trade in is equivalent to selling at 21-22. So you have to decide whether you can sell privately for a couple of k more. If the car is very clean, put it on autotrader, see how goes.
 

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you always make out better if you sell it it privately

it pays i think at the back end. give it a dry you can't lose anything to see what offers you get then make up your mine.
bobm3 :woot: :woot:
 

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Yesterday I talked numbers to trade in my 1 and a half month old 330ci and it was a HUGE loss (about 11K from what I paid), so I traded in my ex wife's M3 instead (she gets the 330ci). I think BMW's only hold up their value so you don't feel raped after a 4 years or so.
 

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the honda dealership actually gave me kbb excelent tradein but it was a pretty low mileage bimmer.
in that case it was better to trade in because i save on taxes. if i would of sold it privately i would have have to sell it for what i purchased it for which is impossible.
 

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Just a Brand-wh0re Elitist
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i traded in my 01 330i with 28k miles for $23k at a BMW dealer. I went under by a grand but....I got a 03 330i instead so I am ok with it.
 

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i got 23k for my 00 328ci w/ 79k miles. :craig:
 

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Discussion Starter · #14 ·
FrankieFlamez said:
That's true - but when you trade your car in you save on the taxes.
Sorry fellas, but I need a little edumacation on this topic of tax savings. The dealership tried explaining it to me, but I took it really lightly thinking they would say anything to make me sell low. Basically, here's the scenario. You already know my car's worth. I owe $16k on it. The car I was looking to get was listed at $13.6k. What portion of this trade-in would I be paying taxes on?

Thanks
 

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byunts said:
Sorry fellas, but I need a little edumacation on this topic of tax savings. The dealership tried explaining it to me, but I took it really lightly thinking they would say anything to make me sell low. Basically, here's the scenario. You already know my car's worth. I owe $16k on it. The car I was looking to get was listed at $13.6k. What portion of this trade-in would I be paying taxes on?

Thanks


the difference in price from the trade in value and the sale value. but in ur case there would be no tax since there is not really a sales value. I think.
 

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byunts said:
Yo, I went to 2 seperate Honda dealers (please don't ask why in fear of being flamed), they offered ~ $20k, wouldn't budge. I tried convincing them it's worth more than that. KBB lists about $22.5 for good, $24.1 for excellent condition. I'm telling you my ride is CLEAN. '01 330Ci 44,000 miles 5 spd, prem, sprt pkg, xns, hk. Any thoughts? Not worth it, right?
ummm. I think it is "gyp", and awfully rude. :hmm: :rolleyes:
 

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GarrettF said:
Not if you get the guy to pay you in cash....

well the seller would not pay taxes, the buyer would.


even if the buyer bought in cash....how is he gonna explain to the DMV that he got a new car? thats where you pay taxes to, the DMV. The tax you pay the dealer goes straight to the DMV when you register the car
 

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byunts said:
Sorry fellas, but I need a little edumacation on this topic of tax savings. The dealership tried explaining it to me, but I took it really lightly thinking they would say anything to make me sell low. Basically, here's the scenario. You already know my car's worth. I owe $16k on it. The car I was looking to get was listed at $13.6k. What portion of this trade-in would I be paying taxes on?

Thanks
You are getting a car that's worth less than your current car?

Not sure how tax savings work on that but here is a normal situation:

Say the car you are trading in is worth $10k.
The price of the car you are buying is $15k.
The sales tax is 10%.

If you buy the car without a trade, the tax would be $1500 ($15000*10%).
With the trade in, you only pay the tax of the difference (15k-10k)*10%=$500. So it's $1000 in tax saving.
 

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BlackChrome said:
You are getting a car that's worth less than your current car?

Not sure how tax savings work on that but here is a normal situation:

Say the car you are trading in is worth $10k.
The price of the car you are buying is $15k.
The sales tax is 10%.

If you buy the car without a trade, the tax would be $1500 ($15000*10%).
With the trade in, you only pay the tax of the difference (15k-10k)*10%=$500. So it's $1000 in tax saving.



yikes.....forgot that you washington folk get reamed on sales tax.
 
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