I am about to trade in my 2001 black ITR this week to the dealer. I am getting $16,700 for it (a very lame price). The dealer said he can't hold his price for very long and is putting on the pressure. I am sure he intends to make some good money on this trade.

The car is in great condition and only has 22k miles on it. I munched the front and right qtr panel 2yrs ago and its been fixed beautifully. Otherwise, it has the normal tiny rock chips and scratches. I also have a set of very light weight rims (with some old Khumos on them).

I am located in NYC. If anyone is interested in putting in a fair price for the car and can do a cash transaction very quickly, pls contact me at rltrock2@yahoo.com
I can forward a ton of pictures if you care. SERIOUS BUYERS ONLY PLEASE!

Ron

 

That price is not that bad considering it was in an accident.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by B2FiNiTY &raquo;</TD></TR><TR><TD CLASS="quote">That price is not that bad considering it was in an accident. </TD></TR></TABLE>

Heh, I second that. That aint too bad at all. That's about my car, 22K miles, 2001, but in pretty decent condition, no accidents or anything. I figured if I decide to sell, $19K private party price, and around 17K dealer trade-in.

I've heard of much worse trade-in prices.

 

goddamn! Ask them if they want a PY for that price. I'd have mine fixed up in no time and out there.

Dealers typically don't give much for used cars when buying back - you really can't expect what you'd be able to get in a private party sale....

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by rltrock &raquo;</TD></TR><TR><TD CLASS="quote">I am getting $16,700 for it (a very lame price).</TD></TR></TABLE>

Remember that trading the car in may have a sales tax advantage to you. In most tax jurisdictions, you pay sales tax on the net amount you are paying after the trade-in, not the entire amount of the new car. Let's say you're buying a new car for $30,000. If your sales tax rate is 8.75 percent (I think this is correct for New York City), you would pay $2,625 (8.75 percent of $30,000) in sales tax if you just buy the new car. But if you trade in a car for $16,700 at the same time, you only pay $1,164 (8.75 percent of the $13,300 difference) in sales tax. So that trade in of $16,700 actually saves you $18,161 on the purchase - which is not a bad price at all for your car, and is hardly what I would call "getting ripped off".

That's the way it works in most places. In a few places (including California), you still pay sales tax on the full purchase price, and the trade-in doesn't save you anything. And in a few places, you get a credit on the sales tax if you sell your current car to another dealer, or even a private party, at roughly the same time as buying your new car. But in most places, you will get the sales tax advantage only if you trade in the car at the same time and place as you buy another one.

 

Well, it's typical dealer behavior. His car is very low mileage and probably in good condition. Don't be in such a rush and sell it privately for more money.

 

it sounds like a great price, but the real is story is this trade in price AND what he's paying for the new car. tell us your negotiated price on the new car and we'll see what the invoice is on edmund's. he might be dangling a nice trade price and whacking you on the new car. do tell!

nsxtasy is correct, you do have a tax advantage. however, you almost always do better in a private sale and paying the higher sales tax.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by magic hat #9 &raquo;</TD></TR><TR><TD CLASS="quote">nsxtasy is correct, you do have a tax advantage. however, you almost always do better in a private sale and paying the higher sales tax.</TD></TR></TABLE>

That is often, but not always, the case. Sometimes the dealer's trade-in price, after figuring the sales tax advantage to you, IS as much as you would get in a private sale. Furthermore, even if it isn't, a private sale involves some risks that you don't have with a trade-in - bounced checks, flaky buyers, liability, test drives, etc. Finding a buyer willing to buy at a higher price than the dealer (after adding in the sales tax advantage) may take a while, and will certainly take your time to post ads, deal with respondents, show the car, weed out the lowballers and tirekickers, etc. So those advantages may offset a minor price advantage from a private sale.

I'm not saying this is always the case; Mr. Hat is right, you can often get more, net, from a private sale. Heck, if you've got the time and you don't mind the risks, by all means go for the private sale and try to get more; if you don't get one within the time you need it, then go for the trade-in, knowing that it's still not a bad deal.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by nsxtasy &raquo;</TD></TR><TR><TD CLASS="quote">Mr. Hat is right</TD></TR></TABLE>

lol.....

 

Kill Kathie Lee Gifford??

Mr. Hand!!

Chris - whos sorry for the OT.

 

I also agree with naxtasy....16700 for trade-in is somewhat like 18000 you get from a private sale. I don't think that price is that bad at all. Depends on how soon you plan to get a new car......you can try to sell it private.

btw, what kinds of car you plan to get next ?

 

I would try these websites.
http://www.Thepartstrader.com
http://www.ITRCA.com
http://www.ebay.com
http://www.autotrader.com
you might be able to get alittle bit more for your ITR..
Good luck!

 

That's an awesome price for trade in. Here in Fl, my friend Ashley got 12K for trade in to Lexus 00 PY with 33K on it, perfect condition. One of the mechanics bought it for 14700.

 

From a dealership thats a reasonable price. Its not like they offered $14k or something. From a private party you obviously can get a couple grand more. If you want more money sell it private party.

 

What NY dealer is that?

&lt;---Opie who would take that much for #97... well maybe

 

Sorry, I probably should have mentioned that the price I quoted includes the sales tax benefit. I put it in this way so a private buyer knows what effective price they have to beat. Good catch though!

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by rltrock &raquo;</TD></TR><TR><TD CLASS="quote">Sorry, I probably should have mentioned that the price I quoted includes the sales tax benefit. I put it in this way so a private buyer knows what effective price they have to beat. Good catch though!</TD></TR></TABLE>

oh, well then you're getting ripped off

you shouldn't feel pressured by the salesdude. he'll come around as soon as you mention you going to another dealership. if the miles are the same, you car shouldn't change in value in a few weeks.

 

Dang, even insurance companies offer more than that. But yeah, don't mean to jinx anyone, I'd sell it private party to make a couple grand more.