Quick Question regarding my trade-in. Do I have the right assumption?

[jarzo]

Hi,

I've spent the day going back and forth with the dealership on a HD. Here are the numbers:

MSRP: 68,455
Sales Price: 61,000
additional rebate: 3,000
Sale price (plus some fees) 58,903

Trade in Value 65,000 > owed on loan 60,000 > equity 5,000
Apply 5,000 and the balance is 53,903

Does this all look right?

Do I have the right assumption here....I'm not paying sales tax (because it's a trade) which would be roughly 5,000 (61,000 X 8.25%) > isn't that equivalent to having 10,000 in equity?.

Thanks

 

[Mr.AK902]

At a glance i would say your getting a decent sale deal but the deal could be more aggressive... don't be scared to push them as low as you can. Going in there with Equity puts you in a good place, not many have that going for them. Out of curiosity, what are you trading? 65k US is a lot of coin.

 

[huntergreen]

No, reduced sales tax is not equity.

 

[14hemiexpress]

It's how you want to skin it either way it's saving 5k. Where are you that tax is 8.25 that hurts it's only 6.25 on vehicles in texas

 

[jarzo]

I'm trading in a 2018 ford raptor. I paid msrp for it, which was $68k, and they are giving me $65k on the trade in.

I'm out in Austin Texas, Lakeway. Our tax rate is 8.25%.

 

[TRCM]

I'm trading in a 2018 ford raptor. I paid msrp for it, which was $68k, and they are giving me $65k on the trade in.

I'm out in Austin Texas, Lakeway. Our tax rate is 8.25%.

You sure on that tax rate, or is that what they TOLD you it was ?

I ask, cuz google says it is 6.25% in texas......................2% of a ~60k sale is over $1000 someone is getting.

 

[smiley]

What are you getting!? Give us the details this is exciting!

 

[Kap1]

And tell us why are you trading in the raptor? There's another person on forum trading in his ram to get the raptor...

 

[TRCM]

And tell us why are you trading in the raptor? There's another person on forum trading in his ram to get the raptor...

Really ?? there's gotta be a female involved there somewhere.......no way I'd trade a Ram for a Ford unless there was a very good, very long lasting, and very satisfying incentive coming my way as well.

 

[slorammy]

.

 

[bigred90gt]

I'm trading in a 2018 ford raptor. I paid msrp for it, which was $68k, and they are giving me $65k on the trade in.

I'm out in Austin Texas, Lakeway. Our tax rate is 8.25%.

Sales tax on the city of Austin may be 8.25% (so is ours in Houston), but when you purchase a vehicle, you pay a state sales tax of 6.25% regardless where you are in Texas. If they’re putting 8.25 on your paperwork, a) it’s probably illegal (tax fraud comes to mind), and b) it’s going in someone’s pocket.

If you made the assumption on your own and it’s not in writing, no harm no foul. If they put that on the paperwork, run.


Sent from my iPhone using Tapatalk

 

[usaf2006]

Don't run, call them out! Get an insane deal to keep quiet then call the BBB lol.

I would certainly ask for more off, or maybe a free bedliner or something. If they don't budge on price, get free stuff!

 

[meedom]

Make sure you check out the price on a comparably equipped HD at Dennis Dillon before you decide

 

[Craw]

.

Why did you Necro this thread?