Traded my GT350 to dealer, wait is on for R

Houston Kid · Mar 19, 2018

Congrats. Same in Texas. My Mustang GT was valued at way less than my GT350 on trade. Imagine that. So I paid the registration fee and zero tax on the $30K GT.

People often say I can sell it privately for more but when you consider the tax savings, most of the time it is a wash or the taxes cost you more than you make selling it privately.

The dealership on paper paid $51,500 for my 17. Could I have sold it for more, maybe but the $1,875 or so in tax saving, $30,000 x 6.25%, not worth the hassle.

stanglife · Mar 19, 2018

How far in advance can you trade a car in and still get the tax credit? Could I trade an R in now on a GT500 that isn't going to be here for over a year? ;)

96cobra · Mar 19, 2018

Wriggly said:
$48,000? I just did a KBB offer on my 17 last week with 2400 miles and that's what they offered me.

That's a good amount lower than what I got before I even consider the tax savings. But if you are just looking to get a purchase offer, IE like taking your car to Carmax, I'd expect $48K (or lower).

Here's what I had:

Screen Shot 2018-03-19 at 11.07.13 PM.png

Epiphany · Mar 19, 2018

I can readily identify. I let mine go in anticipation of getting a GT500. The wait has been as fun as getting an impacted molar pulled.

nordique14 · Mar 20, 2018

LB with white stripes on an R looks amazing. Congrats on the great choice.

Smart move to get rid of the car early so you are not scrambling later. If it is not your daily then no need to keep it depreciating in the garage for the few times you would get to drive it between now and when your R arrives.

Now the looooooong wait begins.

Gatorac · Mar 20, 2018

Would you mind sharing the dealership? Just in case one of us was interested in possibly making a purchase...

jvandy50 · Mar 20, 2018

is arkansas just weird? we can sell privately and bring the bill of sale to the DMV, as long as you buy the next one within 45 days...you only pay taxes on the difference.

Donkey · Mar 20, 2018

Kurac said:
A bit different up in Ohio. Thanks for the clarification.

OP, congrats on the R.

KY worked that way too.. great part is the taxable value as of Jan 1 was 18k on the R lol.

Of course I likely still paid more than what you do for renewal.

Competition Orange · Mar 20, 2018

Kurac said:
A bit different up in Ohio. Thanks for the clarification.

OP, congrats on the R.

No it isn't. It's exactly the same.

tdzee · Mar 20, 2018

96cobra said:
.......I'm in love with Lightning Blue, so I'm going with the same color scheme.. LB with white stripes.......

That will be a spectacular looking car. :cheers:

FYI. I got a call from my sales guy last weekend to come pick up a Ford poster of a LB R model for 2018 he saved for me. You need to get a copy of that poster to match your car. FWIW

Muligan · Mar 20, 2018

stanglife said:
How far in advance can you trade a car in and still get the tax credit? Could I trade an R in now on a GT500 that isn't going to be here for over a year? ;)

Would probably depend on the state and the dealer's willingness, but in my experience the dealer wants to do everything at the same time or as close to that as possible. When I placed my order in late January and we worked out a trade-in value, I offered to make a special trip to the dealership and deliver my car immediately. They said "no" and said that it needs to be much closer to actual delivery date of the new car, so no hurry. That's a Florida dealership.

Here in Illinois, we traded in my wife's car on a new one that was on order and they took the trade nearly three months in advance.

So, YMMV.

Tomster · Mar 20, 2018

Muligan said:
Would probably depend on the state and the dealer's willingness, but in my experience the dealer wants to do everything at the same time or as close to that as possible. When I placed my order in late January and we worked out a trade-in value, I offered to make a special trip to the dealership and deliver my car immediately. They said "no" and said that it needs to be much closer to actual delivery date of the new car, so no hurry. That's a Florida dealership.

Here in Illinois, we traded in my wife's car on a new one that was on order and they took the trade nearly three months in advance.

So, YMMV.

Chris,

You were guaranteed a trade value, right?

Donkey · Mar 20, 2018

Muligan said:
Here in Illinois, we traded in my wife's car on a new one that was on order and they took the trade nearly three months in advance.

So, YMMV.

Same thing my dealer did. I traded my track pack 350 in on Memorial day and they didn't even have the allocation for the R at that point. They agreed to give me the cash difference if they didn't get the allocation. Which would have cost me several thousands in the tax break I would have received. Fortunately I got the allocation July 3rd.

Ninjak · Mar 20, 2018

Grats on the R !

96cobra · Mar 20, 2018

Muligan said:
Would probably depend on the state and the dealer's willingness, but in my experience the dealer wants to do everything at the same time or as close to that as possible. When I placed my order in late January and we worked out a trade-in value, I offered to make a special trip to the dealership and deliver my car immediately. They said "no" and said that it needs to be much closer to actual delivery date of the new car, so no hurry. That's a Florida dealership.

Here in Illinois, we traded in my wife's car on a new one that was on order and they took the trade nearly three months in advance.

So, YMMV.

Dealership told me I could carry this for several months.

For the record, they did offer me a set trade-in value on the car if I wanted to turn my car in at the time the R arrived, but the price was about $2K less. I honestly was thinking this is what they were going to offer me in the first place. But to them, the market is stronger right now because Flat Rock has not been producing cars for 3-4 months and cars haven't started coming in yet, so made sense that the offer would be stronger now.

Traded my GT350 to dealer, wait is on for R

Houston Kid

Well-Known Member

stanglife

Well-Known Member

96cobra

Well-Known Member

Epiphany

Well-Known Member

nordique14

Well-Known Member

Gatorac

Chin Tack Days Event Mgr

jvandy50

H3249

Donkey

Large member

Competition Orange

Well-Known Member

tdzee

Well-Known Member

Muligan

ARRR!

Tomster

Beware of idiots

Donkey

Large member

Ninjak

Posting from the Shadows

96cobra

Well-Known Member