Corvette Z06 Forum banner
1 - 6 of 6 Posts

·
Registered
Joined
·
295 Posts
Discussion Starter · #1 ·
I have a friend at an area dealership who I had originally intended to purchase my Z06 through. He could not even order one!! He is a high volume dealer but does not move many Vettes. Most go to the Dallas dealers. I found my 2001 in a small town dealership outside Big-D for a great buy <46.5. This got my usual dealer (whom I purchase approx. 10-12 vehicles/year for my business) wanting to find out if there was anyway that he could get one. I approached him about the possibility of trading my TR '01 in for an identical '02 (GOD I Love that RED!):cool: which would give him a shiny <3500mi. Vette for his showroom floor. Just daydreaming of course. Got a call last friday from him saying HE GOT A ORDER! He evidently had a heart to heart with his GM Rep. and bingo---'02 on the way. My Question--

How have members that traded their '01 for '02s fared in resale value. Mine is paid in full and would love to see $45,000 for it. That may sound absurd but I have seen some go for more.

Any responses are greatly appreciated!
 

·
Registered
Joined
·
1,170 Posts
I don't know how vehicles are selling in East Texas, but in Missouri I don't think you could expect to get $45,000. I'm not saying it won't happen, but I wouldn't count on it. Thinking like a potential buyer, I could probably still find a brand new 2001 for about that price, so I wouldn't buy a used one. That's one of the major down sides to trading often, you usually take about a $5,000-$7,000 hit the first year. Just my .02 though.
 

·
Registered
Joined
·
2,388 Posts
I don't know how it works in the state your in, but if you only have to pay sales tax on the difference between the new car and the trade-in, then it might be better to trade it in.

In WA it works this way. Say the new Z was $50K and the dealer gave you $40K trade-in, then you only pay sales tax on $10K. In WA, sales tax is 8.8%, so it would be the same as selling the used car for $40,000 x 1.088 = $43,520.
 

·
Registered
Joined
·
1,170 Posts
In regards to the trading the vehicle in to avoid sales tax on the entire purchase price of the new vehicle, in some states you get a credit when you sell your vehicle that will offset the difference when you pay sales tax on the new vehicle. That way it doesn't matter whether you trade the vehicle or sell it yourself. Not sure about the laws in Texas though.
 
1 - 6 of 6 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top