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Old 12-15-2012, 08:35 PM
Bmwlvr60 Bmwlvr60 is offline
Officially Welcomed to the 'Fest
Location: New Jersey
 
Join Date: Oct 2012
Posts: 1,314
Mein Auto: BMW 528xi
Quote:
Originally Posted by rambos View Post
The hidden benefit in trade-in is that your trade-in value is deducted prior to the sales tax calculations. So if your trade-in is worth 10k and the 7% sales tax (depending your home state) you will save $700 on the net purchase price. Trade-in is recommended for higher trade-in values to close the gap between sales tax savings and dealer trade-in vs private party price. The other option is sell your car while waiting for the order if you could manage with your wife's car or public transportation. First finalize the deal with the trade-in with an exit clause in the contract for the trade-in. Three weeks is a very good time to sell your car privately. Always have your private party sales contract as buyer purchasing the car "As is" to avoid any after sales issues with the buyer. If this didn't workout then you always falls back to dealer trade-in.
Good luck.
NJ is this way too. With the addition of money saved on sales tax I was still better off selling my MDX on Craig's List; added $2100 to my bank account- paid for Dynamic Handling and Premium Sound Packages for new X3.

Sold the MDX in 2 days. No spam, but a couple of wholesalers called and 1 guy tried to low ball me. Showed the car to 2 guys and 1 bought it. Advertised in 7 areas around where I live- just copied the ad over each time. Deleted them all the day of the sale to avoid more phone calls.
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