C5ROADRUNNER

Got a call from a supporting dealer today (well, he sounded like some kid cold calling on his first day) looking for business.

I'd bought a '98 C5 from them new; they weren't discounting when I bought my C6.

Anyway, I was wondering what forum members are doing with their trade-ins? Selling outright or trading in? When the dealer is 500 to 1000 or more miles, is the dealer helping to get the trade-in to their lot? I am guessing not but have to ask.

I would consider upgrading from my 05 coupe to 06 roadster if it were painless and didn't cost much.

Vermonter

One thing to check is that if you sell outright and then buy a new vette from a dealer, what is the sales tax liability? Some states make an allowance if you sell privately, but you need to produce the paperwork. Trading to a dealer is usually easy...the value of your trade is deducted from the gross sale to determine tax CAVEAT: each state may differ slightly in how tax is handled, so don't assume anything and double check the laws in the state that you are registering your vehicle.

rodfl99

Just for the sales tax issue alone, I always think you better to try and trade........plus some other issues...

I bought an 04 by searching the GMBUYPOWER and getting the best deal...then asked what they would do for my Lincoln LS based on the fact that it was in Very good condition......we agreed on a price over the interent based on the condition that I told them (we agreed up front and put it in writing what condition the car was in).........drove it out to Texas from FL and made the trade....

Did the same thing for my 05..........agreed on a fair price for the 04 based on the condition (also put in writing)...........both dealers were up front and I made this deal by driving to St Louis...

Hope this helps...

SeaFive

If you can find a buyer who will pay more than the trade in allowance ...


AND


If you can find a dealer who will do an 'in and out" deal for you, you can have the best of both worlds. You get a better price for the car you are selling, and still get the sales tax savings because the used car is technically bought from the dealer.

03clyde

This what I'm trying to do with the sale of my C5 so a good chunk of sales tax on the new C6 is absorbed by the value of the C5.

Good luck

BTW - my dealer is doing this gratis. when I mentioned this at another dealer they offered to do the same thing for a "fee." I left after hearing that.

jnx911

What deal did they offer? You have to calculate it with/without trade tax savings, plus can you sell yours, etc,etc. Only you can make that call. If money is no object, trade it in and don't look back.

fenderowner

Ended up trading my '04 C5, after calculating that the tradein price the dealer was offering plus the tax savings was within about $1000-1500 of what I thought I could get from a private sale. I decided that was worth not having to hassle with selling it myself. Again, it all depends on how much it's worth to you not to have to fool with the sale of a vehicle to a private party. And I agree: the best of all worlds would be the "in and out" referred to by other posters. HTH.

Shylor

And that is what a "Stealership" counts on by buying your trade. You can almost 100% of the time make more by selling your car yourself than trading it in. But the ease of the deal is what helps most people shallow the loss. Since I'm very frugal, I would sell mine myself.

SellingBMWforC6

If you can do an "in & out" that's great, but I bought from MacMulkin and did a courtesy delivery, so no such luck. But definately saved thousands selling myself.

Dennis B

I traded my 04 C5 roadster with 5000 miles on it for a brand new C6 roadster. I went to a few dealers and the most they offered me was $38000. After haggling that the C6 was really last years model......they raised the trade to $41000 which I felt was a decent price especially since it was the middle of December......so I agreed to the deal. I have to look at it as if I got the 06 at a discount off of the sticker and in addition, I also got the tax break which was quite a hefty amount to have paid. All in all.......I think I did the right thing.....it was easy.....fast and problem free........the worst of it all is now I have a gorgeous Velocity Yellow roadster sitting in the garage all winter!!!! I sometimes wonder if I did the right thing here guys!!!

Closer_2001

In TX, a dealer who does the in/out does have to pay VIT Tax on your car, even if it never sits on the lot. This is about $40-$80 depending on the price for the trade.

Also, most banks will not fund a used car unless they have a title.

So, lets say your car has a payoff and the new buyer is financing.

The dealer will send their money to your bank. Then your bank will send the dealer the title. Then the title is sent to the buyer bank, then they will send the dealer the $ back. That process can take 10-30 days.

It would not be unreasonable for a dealer to ask you to cover those costs.

AtHomeSoda

Here in CA... the price of the new car..If $57,000 gets taxed... and if you trade in a car... it just lowers the amount you pay... but you still pay tax on the whole thing. I am looking to sell my Silver C5 and get a 2006 C6, but the stealership made me feel like my C5 was almost worthless... the car I drive and love everyday... they offered me $12,000. In autotrader the lowest is almost $4,000 more than that, private party. I think I could sell for $15,000 pretty quick, as it is a great car. And that would go to pay more of the $4,400+ sales tax..