Originally Posted by jeremyc74
It comes off the sales tax. When you trade a vehicle in, the trade in has already been taxed once. The amount the dealer is giving you for the trade in gets taken off before the sale tax is calculated, so you don't pay sales tax on that amount.
That might vary from state to state, but I think most are like this.
What it comes down to is that if your state charge around 6%, and the dealer is willing to give you $17k for a car, you need to sell it private party for at least $18k to even break even.
Trading in car example:
BMW MSRP $40,400
Feb 09 Discount -$1,400
Minimum Trade -$14,000
7% IL. Tax +$1,750
3/09 Si payoff +$15,000
Doc,Lic,Tit, misc +$500
Cash down -$7,000
=$35,250 To be financed.
This is the Minimum deal I will accept on a trade.
$14,000 for My 2007 Civic Si is dirt cheap. It will sell at dealers for $18.5-$19.5k in March 09 with 17,000 miles in excellent cond.
$1,400 off MSRP on the 135i in March 09 should be easy IMO.
All BMW has to do is accept this and the problem is solved.
Thanks for all the support and putting up with me. I am having a hard time staying with getting a 135i, it is becoming a pain in the @$$. I don't know anymore if its worth it.
I don't know why this is so scrambled up, I had everything in a neat line????????
I forgot to ask.
How many people think the numbers above are possible????????