Selling Privately...

I somehow injured my knee at work over the last 6 months (not sure how) but it is to the point where it is hard to drive. So I have been thinking about selling my truck. It is a...

-2011 Silver Streak
-DC
-TRD Off Road
-6 Speed
-16k miles
-immaculate shape.
-I hit a deer back in March but it was all cosmetic damage. no structural or frame damage at all.

I purchased the truck for a great deal of $29k and some change OUT THE DOOR.

I just got a trade in offer of 26k at a Subaru dealership.

I'd like some opinions on whether it is worth it to try and sell privately...

 

it is worth it, tacos are hard to come by on the east coast, especially in that good of a condition, im pretty sure if you decide to sell it you wont have to wait long.

 

... ^^^ ... That is a good "trade in offer" especially when if you get the "trade in tax offset credit" ...

Actually for a vehicle that is listed in CarFax ... $26,000 cash (based on your $29,000. OTD price) is excellent.

If you trade for the Subaru (love those things) try to get a "TrueCar Price" on you new Subaru and $26k trade in and you are in great shape IMO ...

"TrueCar" pricing link--> http://www.truecar.com

.

 

I just got a trade in offer of 26k at a Subaru dealership.

[/QUOTE]

So, in Pa. on a trade in do you get credit for the tax on the trade value? You do in NY. If so that would put your trade in at a value to you of $27,680 with an 8% tax rate. Was the 26k offer off full sticker on the Subaru?

BTW, I have an 08 TRD OR AC 4x4, V6 auto and a 2014 Suby Forester. Have owned 5 Subarus now.

 

Yeah, They threw 25 at me right before I said anything. I said 26 and they didn't hesitate much. I know 26k is a seriously high trade in value. I expected to ask 25 and maybe get 24 or something.

But it brings me to.. how much more money do you think I can pull by selling privately?

 

Yes, you do get tax credit and no that was not on a full stickered car. (I sold Toyota for a while and have some negotiation tactics haha)

 

Sounds like a great deal, especially if your needs no longer warrant a truck.

 

... ^^^ ... Check Edmunds.com .... KBB.com ... NADA.com ... TrueCar.com ... for some pricing tips.

$26,000. cash for a $29,000 OTD vehicle (listed in CarFax) with 16,000 miles is a good price IF you can get it ...

And $26,000 trade in with "tax offset credits" and a "close to TrueCar sales price on the Subaru" is a terrific price IMO ...

Good luck with the sale or trade in ... and good luck with your knees too ...
.

 

That's what I just went through when preparing to buy my Taco.

If the difference in taxes collected on what you would have gotten for the trade isn't less than the private party 'extra profit', then you're actually not doing yourself any favors by selling privately.

An example since it sounds confusing.

Hypothetical trade in = $20k. Here in PA, that saves you $1200 in taxes on the new vehicle. (because you paid taxes on that $20k car originally so they credit you by not charging it on that portion of the new vehicle) So actual contribution to your out the door price is $21,200.

Sell it privately? You better get more than $21,200 in order to JUST BREAK EVEN with the trade in route. If you can get $22k, sure, you just got $800 more that you can reduce the final cost of the new vehicle with. But if you only get $21k, while it sounds like you got more than the trade offer, you actually lost out because the increase in collected taxes will end up costing you $200 more after everything is factored in on the out that final door price.

Not to mention there is a cost to listing the vehicle for private party sale usually, in terms of actual marketing (newspaper classifieds, thePaperShop, etc) or in terms of frustration. (Craigslist idiots that call nonstop with trade offers, never actually show up to look at the vehicle, suddenly can't come up with the funds, etc)

I'm sure the OP already knows this, but it's a good reminder and puts things in perspective.

FWIW, I'd only consider private party if you are sure you can make at least a grand extra or more; the frustration and wasted time is not worth only a few hundred dollar increase to me, when compared to the speed and simplicity of trading in. (I want my purchase experience to be a fun and enjoyable thing)

E.

 

Keep in mind that if you itemize taxes you will lose some of the sales tax trade in benefit. It still sounds like a good deal to me. Sales tax is the only reason I traded mine. I think there would a lit less trades if they ever did away with the trade in sales tax benefit.

 

I feel like I am going to break even no matter which way I go. I guess clean my truck up and start shopping around. I really love this truck so I may consider trading it for a 2013 super white with auto trans. Might be able to get even more for trade since a toyota dealership will be able to certify it.

 

Without all the particulars it is impossible to tell you a price. Go here and put in the information to get the right price.
http://www.kbb.com/

 

if you are trading then do not waste time cleaning.