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Old 08-16-2010, 05:38 PM   #1 (permalink)
WannaNew1
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Trade-in or Sell outright

I will buying a new GMC in the next month or so.

I will be getting rid of my current truck.

I have been offered $15K as "Trade-in Value" - (only been to one dealership)

I could possibly sell it outright for more; but maybe not.

Is there any difference in trading a vehicle in and getting $15K for it as opposed to me selling it outright and putting $15k down?

I think I remember hearing something about the amount of tax I would pay would be different, but I could be wrong.

Thanks for your help.

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Old 08-16-2010, 06:34 PM   #2 (permalink)
Cwylie
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In texas when you trade in the a vehicle the trade in amout is decucted from the taxable amount.

15k Trade in
50k Purchase

You pay taxes on 35k vs the 50k.

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Old 10-05-2010, 11:08 PM   #3 (permalink)
PhxIrn
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Quote:
In texas when you trade in the a vehicle the trade in amout is decucted from the taxable amount.

15k Trade in
50k Purchase

You pay taxes on 35k vs the 50k.
We have the same tax consequences in Arizona.
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Old 10-06-2010, 10:45 AM   #4 (permalink)
stump_breaker
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If you sell it outright then, well, good luck. Been a real PITA for me.
Everyone wants what you have until you put a price on it.
I gave up and decided to keep her. My heart wasn't in it anyway.
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Last edited by stump_breaker; 10-06-2010 at 10:45 AM.
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Old 10-13-2010, 07:25 AM   #5 (permalink)
JMGAZ
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Im fighting that same battle now. Sell the 335i or trade it in. More than likely will trade it in, but am fighting for a few more dollars on the trade.
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