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11-19-2014, 09:06 AM
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#1 |
 Drives: Suburban Join Date: Oct 2013
Location: Flint
Posts: 12
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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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11-19-2014, 12:50 PM
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#2 |
 
Drives: 2014 Stingray Z51 Join Date: Aug 2013
Location: Toronto
Posts: 263
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When is your Z06 coming? Show your specs photos asking price etc
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11-28-2014, 01:03 PM
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#3 |
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Drives: 2014 C7 Join Date: Apr 2011
Location: Atlanta
Posts: 34
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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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NoSlipN
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11-30-2014, 08:25 PM
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#4 |
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Drives: 2015 Z06 (on order) Join Date: Nov 2014
Location: Southlake, TX
Posts: 18
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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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12-01-2014, 06:48 AM
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#5 |
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Drives: Suburban Join Date: Oct 2013
Location: Flint
Posts: 12
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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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12-01-2014, 06:50 AM
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#6 |
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Drives: Suburban Join Date: Oct 2013
Location: Flint
Posts: 12
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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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12-01-2014, 08:56 AM
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#7 | |
 
Drives: '19 ZR1 Shadow Gray & '16 Z06 LBR Join Date: Jul 2010
Location: Bowling Green, KY
Posts: 408
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Quote:
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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12-01-2014, 12:29 PM
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#8 |
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Drives: Suburban Join Date: Oct 2013
Location: Flint
Posts: 12
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ahh, got it, thanks for the tip!
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