Truck value?

[SDGen3]

Im not sure what the tax was. Probably 6-7k. I typically get a new truck once a year maybe two years if I like the truck. I owe more than asking but ill pay the difference out of pocket and on to the next truck. Ive seen 21-22 raptors with 10-20k miles and dealers are asking almost 100k in socal. Id be happy getting close to msrp.

 

[raptorzz]

Am I reading this correctly? You owe 86K on a 2023 35 truck? How much are they charging for Raptors in SO-CAL?

Ive seen raptors MY21 - MY23 between 85-105k depending on options and other factors

 

[raptorzz]

Mine was 85/86 (msrp) plus 3k over. They originally wanted 20k over but wasn’t happening. Ill probably list around msrp and eat the rest

Yea, I would have 2-3 cars per year, my rule of thumb is no more than 5k loss per vehicle.

 

[Kapoosh1]

Do you also eat all of the sales tax? What's that, $6k or so? Or do you get to apply it to your next vehicle?

In Cali you eat all the sales tax. Unfortunately there's no trade in credit.

 

[STHenry]

I live in SD as well. I was able to sell my Bronco to the Ford dealer in Carlsbad (Ken Grody Ford) for a small profit last year. You might want to check them out as they seem to sell way higher than anywhere else so might give you more for the truck.

 

[GordoJay]

In Cali you eat all the sales tax. Unfortunately there's no trade in credit.

Ah, well, California needs the money. They don't tax people enough.

 

[trav7314]

Ah, well, California needs the money. They don't tax people enough.

How else are they gonna pay for reparations!?

 

[GordoJay]

How else are they gonna pay for reparations!?

I can't wait for reparations to reach it's logical conclusion. All of you invaders go back to where you came from and leave the stuff you stole behind. Us Indians will appreciate that.

 

[K9 EXPERT]

It all depends on where you live, the local market, and how your state treats sales tax on trade ins. Finding some locals to quiz is probably your best bet.

Sales tax question. I’ve googled it to death. I live recently moved to Idaho and about two years ago, I traded a car and received a sales tax credit for the car I purchased. Last week I sold a Jeep to carmax and the guy told me I have a 2600 tax credit toward another car. I did not buy a car, therefore can I deduct the 2600 on my taxes?

 

[NJ2020]

Sales tax question. I’ve googled it to death. I live recently moved to Idaho and about two years ago, I traded a car and received a sales tax credit for the car I purchased. Last week I sold a Jeep to carmax and the guy told me I have a 2600 tax credit toward another car. I did not buy a car, therefore can I deduct the 2600 on my taxes?

No you can't. It has to be a component of a single transaction to qualify for the trade-in credit.