Quote:
Originally Posted by NullCheck
They made around $4000 in your deal. You did not get a good deal.
You should NEVER trade your car in unless it has mechanical issues that you are covering up or damage in history. Dealerships will literally double their profit in these "trade" in type of situations. I have a lot of friends working at dealerships, including GMs, so I know what I'm talking about.
Maybe if you leased, then I'd say, maybe, because of the tax benefits, which may change from state to state. In NJ, if you trade in a car you own and get a lease, you are exempt from the tax, which can be significant in 6 figure cars.
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Even if you dont lease, most states that assess sales tax on a purchase will give a sales tax credit for the trade-in value towards the sales tax on the current car. That can be significant.