New Ways to Get More for Your Old Car | Personal-finance

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If a customer is transparent when describing a vehicle’s condition, “we don’t anticipate having to make adjustments to our offers,” says Carvana spokesperson Amy O’Hara. “But we are prepared should the situation arise.” Online comments on sites such as Reddit support these statements. Most consumers found the trade-in or sales […]

If a customer is transparent when describing a vehicle’s condition, “we don’t anticipate having to make adjustments to our offers,” says Carvana spokesperson Amy O’Hara. “But we are prepared should the situation arise.”

Online comments on sites such as Reddit support these statements. Most consumers found the trade-in or sales process at these companies to be fast, transparent and convenient.

Don’t forget the sales tax

With these figures in hand, you are in a position of strength when you visit an actual dealer.

In most states, if you trade in your car, you pay sales tax only on the difference between the cost of the new car and your old one. If your new car is $30,000 and you are getting $20,000 for your trade-in, you pay sales tax on the difference: $10,000. In a state with a 10% sales tax, you saved $2,000 by trading in.

That should be a consideration if a dealer’s offer doesn’t quite measure up to the offers you get online or through CarMax.

Let the dealer make you its best offer. Tell the used car manager, the internet sales office or the salesperson that you’ve already appraised your car on pricing guides and gotten quotes from online retailers. You don’t need to share the offers you have — just ask for their best price.

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