Do you guys know what the trade in value of a 2000 R with 34,000 miles is? I'm getting a bit conservative now that I'm having a kid and am thinking of trading the R in for something else. I would sell it myself, but I don't own it outright - so this is much easier.

thanks

 

my guess would be anywhere from 17-18.5k

youll walk out of there holding your rearend

 

my friend only got 16k for his with 40-45k miles. i would sell the car to a outside party then trade it in, you'll get more $$ that way.

15-17k is what your looking at trading in your vehicle.


[Modified by DeL SLo, 6:04 PM 12/22/2002]

 

I was offered $16k as an outright purchase by a dealer. '00 with 25k miles. I left.

 

From the research I've been doing lately you could probably get anywhere's from $29-21K for it privately. Give it a try.

 

actually if your gonna trade in the car for another one, the dealership will often times screw you, but you might be better off doing it anyhow b/c of tax purposes.

 

Check Nada.com for an acurate figure. This is what all dealerships use even though they will probably offer less than what is stated. As Soup **** mentioned, you will save the difference from your new purchase and the trade in on sales tax.
I would try to sell it outright. You will get far more for it. It's not that much more of a hassle. All a prospective buyers lender will ask for is a statement proving how much is owed on the lien. Their lender will cut you and your bank a check for the sale price. The bank will refund you the difference.
Good luck

 

danelot, so I don't need the title to sell it privately? I thought that I would.

 

Technically, no. But it's much easier, especially with out-of-state buyers, to have the title in hand.

I ended up paying the car off with a credit card balance transfer check. But I didn't owe that much. I sold the car in time to pay off the card when I got the statement, so I didn't owe any interest.

 

You don't have a title for it? In NY you get a title from DMV and states at the bottom who owns the lien on the car. You sign the title over to the buyer. The buyer can obtain a statement from your lender that the lien has been paid off. I'm not sure if it works this way in other states.

 

The lending bank had the actual paper title for my R. When I paid it off, they sent it to me.

I'm refinancing my Volvo right now - the actual title lives in Jacksonville, FL at the current lender. I had to get a photocopy of it for the new loan. Once a check is cut, the title will be mailed to the new lender.

 

the dealer here just recently offered me 21,000 for my 00 R w/ 38,000 miles on it. It was the Subaru dealer. And to top it off, they wanted to sell me the WRX wagon for 22,800. Go figure. I might have to jump on that deal.

tj

 

That varies from state to state, but... it may not be what you think, either - for two reasons. Here's why.

1. In most states, you only have to pay sales tax on the difference between the purchase price and the trade-in price. So, if you get $15K on your trade-in while buying a $25K car, you only pay sales tax on the $10K difference that you're paying. You would save X percent of $15K in sales tax. Except that in a few states (and I think California is one of them) they will charge you sales tax on the full $25K purchase, not on the $10K you're paying. So you don't get the sales tax break either way, trading it in or selling it privately, so you may as well sell it privately since you'll get a better price.

2. In many states, you don't have to trade the car in at the dealer to get the sales tax break. Even if you've sold the car to a private party, as long as you did so within the previous 60 days of buying a new car, you only have to pay sales tax on the difference between the two amounts, so you still get that sales tax break. The dealers don't tell you this, so you think you're getting a better deal when they give you a lousy price, but it's definitely true in some states, including Illinois. So you DO get the sales tax break either way, trading it in or selling it privately, so again, you may as well sell it privately since you'll get a better price.

Check the laws in the state where you live to find out how it all works. You can probably find out about it if you do the research on your state's website; you may find that it's documented on the website for the state's Department of Revenue, rather than the DMV.

Good luck.

 

You dont save much on the tax break from trading in your vehicle. You'll only save about 500-1000. I rather sell the vehicle to a private party and get 2-4k more.