Need input, sell or trade 01 ST?

[Denise Hayes 2]

The dealer has offered $9,000.00 on the 01 XLT ST, 68,000 miles. Should I try to sell first, and what amount? My 07 is due here next week. As far as sales tax on the 07, is it better to trade in the 01 , and is there a substantial tax savings?,

 

[Casey B]

How is there a tax savings? Some of your trade in cash will pay the taxes but they are still there. You'll come out better if you can sell it to a private party and talk the dealer down as much as possible on the new one. Check edmunds.com or kbb.com for your value. A private party can benefit by not having to pay taxes if they buy it from you.

 

[Ben Poche]

if you trade a vehicle in Louisiana the $9000 they give you on trade you do not pay tax on the first $9000 of your new vehicle. $9000 does not seem to bad i guess it depends on the demand for ST'S where you are.

 

[A1cntrler]

I sold my '01 for 11,400 using the Private Party pricing on edmunds.com as a starting guide. It said it was worth 11,700. Sold it in about 2 weeks. I put an ad in the classifieds onin the local paper and on AutoTrader.com (linked off the edmunds site). I had a person a day calling about it, and a person about every other day coming to see it.... My dealer Trade in was about 9,000 as as well. I did not know there was an XLT model in 2001. I thought they went as Premimum, Deluxe and Standard... BTW--Mine had close to 100,000 miles on it and a 4x4

 

[Michael Edreich]

Trade it, less hastle, less tax

 

[Andy Pelletier]

I had my '01 up for sale for 2 months on cars.com with only a couple hits...ended up trading it in. Got$10,500 for it...less hassle and fair enough price I suppose...good luck

 

[michael larkin 2]

9000 is a reasonable trade in, NADA and KBB both are around 11500-12500, so it isnt bad on the trade in, you are gettinga fair deal, if u pay the tax on selling it, you only come ahead maybe a 1k, so t I woudl opt for the trade in

 

[Thomas Rogers]

Denise, as others have said there is a tax savings because the tax you pay on the new vehicle is based on the cost of the vehicle LESS the trade-in amount, and that could be substantial. In PA, with a 6% sales tax and a $9,000 trade-in, that would be $540 of tax avoidance/savings.



Now, if you are CONFIDENT that you could get a couple of thousands MORE for the Trac by selling it third-party, and CONFIDENT that it would sell quickly AND without hassle, than there really is no discussion now is there. $2000 extra in your pocket vs $540 saved...$2000 wins every time.



But, just how CONFIDENT can you be that it will sell at that higher price, quickly (or at least in the timeframe you need), and without a lot of fuss? That's the gamble of third party sale, and why so many people will simply trade-in if the difference is minor.



Do you have the time (a few weeks to a month) and opportunity to try to sell it first? Is there a safe place nearby with high traffic volume that you can park it once it is all shined up, and put a 4-Sale sign and phone number on?



TJR

 

[John Moore]

I traded my 01 with 106,000 miles in and got $10,000. That was a fair enough price for me. 9k may be good for yours. You have to weigh the cost of hassle.

Ended up getting an 06 Titan though... it was about 9k less than the 07 ST.

 

[Casey B]

I have a question regarding trading in to a dealer. What if the vehicle has an extended warranty? For example, I have an '01 with 69K on it. Premium warranty goes until 100k or March '07. Is this a bargaining tool?

 

[23Ballistic randyvanaken]

Tell the dealer you want more for your trade. If they want you in the New Vehicle they will work with you. Dont let them tell you they can't. All you have to do is tell them another dealership offered a certain amount but you would really rather deal with them. If they can do it and give you the price you want on the new vehicle you will give them your business.





I have also learned it doesn't hurt to ask for things when dealing. Tell them to throw in window tint. They usually do to get the deal done with no problems.

 

[Michael Edreich]

you will be pro rated the cost of the remaining warranty..... its not transferable,

 

[Casey B]

RAVEN- My warranty is transferrable, as it was transferred to me for $50. Same thing applies to another transfer if I decide to sell. They track it by the VIN because I've never had to show paperwork for the warranty.

 

[Michael Edreich]

well in that case you cannot be reimbursed the pro rate and it would be a bargaining tool, more so in a private party sale

 

[Fer Echegaray]

If it's transferable for $50, you would get only those $50, wouldn't you?

 

[Casey B]

It is a premium warranty with another 9 months or 31k miles. The guy I bought the truck from paid over $2300 for it and when I bought it he paid the $50 transfer fee to me. Since I've had the Trac the warranty has cost me $300 in deductables but saved me close to $4k in repairs. I don't plan to keep it much longer and I will be negotiating with either a dealer or private party.