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  #1  
Old 08-31-2012, 05:56 PM
stormace stormace is offline
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Location: bay area
 
Join Date: Oct 2004
Posts: 177
Mein Auto: f01, fx35, f10
Trying to get a 3 series BUT need to get rid of cars!!

Hi Festers

Here's my scenario, I'm trying to get a 3 series into my stable, but my dilemma is this:

2010 Prius V lease up March 2013. 10K over mileage at the moment, .15/mile. $1500 penalty. 20k residual

2004 Infiniti FX35 (own) 87,000miles kbb.com estimate it to be 15k-17k value

2012 Wife's minivan (can't touch that, lol)

My question is, what should I do to rid myself of the prius and fx35? I never sold a car privately before, but what would you guys do?
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  #2  
Old 08-31-2012, 08:14 PM
chrischeung chrischeung is offline
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Location: Dallas, TX
 
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Posts: 7,230
Mein Auto: 2012 ActiveHybrid 7 SWB
Drive them to Carmax in Roseville, and sell them.
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  #3  
Old 09-01-2012, 07:09 AM
SARAFIL's Avatar
SARAFIL SARAFIL is offline
I know a thing or two...
Location: Northeast USA
 
Join Date: Feb 2003
Posts: 7,399
Mein Auto: '13 BMW 335xi
Fr the Infiniti, get a trade estimate from BMW dealer as well as a quote from Carmax.

For the Prius, determine the cheaper option ... (a) paying remaining payments and mileage penalty, or (b) difference between Carmax offer and your payoff.
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  #4  
Old 09-01-2012, 09:21 AM
stormace stormace is offline
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Location: bay area
 
Join Date: Oct 2004
Posts: 177
Mein Auto: f01, fx35, f10
Sounds like I really need to pay Carmax a visit.

As for the Prius, we have about 7 more months of payment left. Currently it is 7000 over mileage which is a $1350 hit. residual is 20,500. If I buy the car using the remaining residual, there is tax on it too right? So at least $23000? Stupid question, sorry.

Essentially, CarMax offer needs to be better than the residual + remaining months + tax. Correct?
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  #5  
Old 09-01-2012, 01:55 PM
SARAFIL's Avatar
SARAFIL SARAFIL is offline
I know a thing or two...
Location: Northeast USA
 
Join Date: Feb 2003
Posts: 7,399
Mein Auto: '13 BMW 335xi
Carmax is a dealer so they pay it off directly with no tax. They can also get the title directly from the bank, which you can't do if you sell privately.
__________________
2013 BMW 335xi Sedan
Estoril Blue / Black Leather

6MT, M-Sport, Premium Pkg, Cold Weather Pkg, Dynamic Handling Pkg, Tech Pkg, HK Sound, M Performance Exhaust, M Performance Power Kit

Former: 2011 335xi Coupe -- 2009 MCS JCW -- 2006 MZ4 -- 2002 325i -- 1997 318ti -- 1991 318i
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  #6  
Old 09-01-2012, 05:08 PM
stormace stormace is offline
Officially Welcomed to the 'Fest
Location: bay area
 
Join Date: Oct 2004
Posts: 177
Mein Auto: f01, fx35, f10
So that means if I can get more than the payoff + remaining months and if it turns out to have equity, I pull the trigger. No need to worry about taxes since it is dealership?
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ED on 3.30.07 |'07 335i coupe|BlackSapphire|CoralRed|Nav|Comfort|Sports|Pr emium
Redelivered, Reunited! 5.24.07
2013 F10 535i|TiAg|BlackDakota||Tech|MSport|Premium|Multi Contour|Hifi|Rearview Camera|PDC
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