laserred38

Good. I figured that was the case, but considering the IRS, I wouldn't be surprised if they taxed you on a loss

roadracingmustang

Depends on what you paid for the GT. If you paid MSRP you got took. If you got $3000 or more in incentives you probably did okay. Clean trade in on your V6 is $18,300 at NADA. That being said they always try to pay low and sell high.

The last time I traded a car I accepted $1000 below clean trade but I bought the new car at $100 over invoice plus a $1000 cash back so the trade loss was a wash. It took the dealer 8 months to sell the car I traded due to it's unique model and a weak market. Meanwhile we were driving a new car and not dealing with idiots.

Trying to sell a car outright can be a huge pain. Especially if you are trying to get retail. The problem with a used 2012 is the book retail is almost what you can buy brand new car for with the incentives so they aren't going to sell real fast.

NickMac14

Here in Florida, the buyer pays a 6% sales tax on whatever vehicle they are buying. If you trade-in a car at the time you purchase a new vehicle, you deduct the price of the trade-in from the sales price of the new vehicle to determine the sales tax owed. If you sell your car to a private party and then go and buy a new car later you basically lose the deduction on your sales tax. In my case if I got $10K for my trade, I'd have to get $10,600 from a private party sale to break even. This is my understanding of the sales tax here, but I'm not an accountant, nor a tax attorney.

tbear853

So, why did you sign on the line? Surely you knew they were gonna offer what leaves them some room for a profit to compensate them for the detailing prep, lot time, time money is tied up, & risk of it not selling soon?

It ain't sold yet has it?

Never look back. Decide what's fair in your mind, what's acceptable to you, make your deal ..... and then just go forward and look for your own opportunities.