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Old 11-19-2014, 08:06 AM   #1
Nole89
 
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Need to sell my 2014 C7 to make room for my Z06

My Z06 is ordered and now I need to sell my 2014 C7, suggestions? Anyone else in the same boat?
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Old 11-19-2014, 11:50 AM   #2
zimm888
 
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When is your Z06 coming? Show your specs photos asking price etc
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Old 11-28-2014, 12:03 PM   #3
F7B
 
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Why would you not trade it in? Are they hosing you on the trade? The tax credit will help even if you have negative equity.
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Old 11-30-2014, 07:25 PM   #4
dc3843
 
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+1 on the tax credit. I lost a little bit on my GTR when I traded it in Vs. Selling it, but the tax credit MORE than made up for it.
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Old 12-01-2014, 05:48 AM   #5
Nole89
 
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Tax credit? Not aware there was one. Please elaborate. I'll check with my wife too, she's a CPA.
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Old 12-01-2014, 05:50 AM   #6
Nole89
 
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Paid approx. $70k (tax, title, etc.), trade offer approx. $57k, from my standpoint, hose job. 1,700 miles, mint condition.
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Old 12-01-2014, 07:56 AM   #7
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Quote:
Originally Posted by Nole89 View Post
Tax credit? Not aware there was one. Please elaborate. I'll check with my wife too, she's a CPA.
Not exactly a tax credit, but...

Let's say the you will be paying $90,000 for the new car. If you sell your car outright and buy the new one, you will pay sales tax on the full $90K. If you trade in your car and get the $57K trade allowance, you will only pay sales tax on the difference ($33K). That means your out-of-pocket cash could amount to +/- $4000 more without a trade.

I am sure that your CPA will inform you that you will have to get that much more in a private sale to even break-even.

So, it is not a tax credit, rather a tax savings.
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Old 12-01-2014, 11:29 AM   #8
Nole89
 
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ahh, got it, thanks for the tip!
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