Carmax will give me $22,000 for our '07 TCH (Leather, Sunroof, No-Nav).

I just ordered a "loaded" (Leather, Sunroof, Nav, C&C) '09 from Fitzmall for about $150 over Invoice (yes invoice) for about $29,000. +TTL.

If I deduct out the upgrade (Nav + C&C) and add-in the Sales Tax, My net depreciation is only about $7,000 for > 2 years and 40,000 miles.

Not bad eigh!

Here in TX, I lose the sales tax difference if I don't trade it in. However, I'm too far from Fitzmall to drive it out there in hope that I will get a good trade-in.

Has anyone sold their '07 for cash? I wonder what I could really get if I sold it myself? If all goes well, I'll put it on Craigslist and in the paper after I'm sure that the '09 is here and before I go to fetch it. If it doesn't sell, I'll let Carmax have it.

Thoughts??

 

Although the depreciation is low, I can't justify selling my 07 to get an 09, because it is essentially the same car -- so what do I get for my additional expenditure and additional sales tax other than the new car smell and lower mileage? Of course, it just depends on one's personal financial situation as well.

However, if I were to sell my car, I would at least check with the dealer. Most would be VERY happy to have a used TCH on the lot and would give you an idea as to whether they could match or beat the Car Max price over the phone. While they usually haggle over used car trade ins, with a TCH the dealer may be more staightforward with you.

As a general rule, dealers LOVE customers who only drive a car for a couple of years and then buy another new one. So they are often willing to do whatever to keep you coming back.

Good luck with your transaction!

 

Hi Scooters,

just curious about ordering from Fitzmall. I live relatively close ( couple hours away) but I was under the impression that I would have to pay sales tax in the state in which I bought it (PA) as well as sales tax in the state in which I would register it (NJ). Is this not true?

Also, when they say "delivery included" does that mean they will delivery your car to you in TX, or is that the "destination charge" that is included.

Thanks for the info.

 

I live in Michigan, and once went to Chicago to buy a vehicle.

They charged sales tax per the Michigan rate (6%), and per the Michigan rules (you pay sales tax on the full price of the car - not the difference between the price of the car and the value of your trade in). They actually called a Honda dealer in Michigan to figure out what they had to do.

They also did not charge us the normal Cook County tax that would have been charged to Illinois residents.

 

Leaky- I understand your position. My thought is to trade while the vaue is high.

We've put almost 40K miles on the car in the past 2+ years. If we go another 2 years, people (right or wrong) will be concerned about the battery life, etc. I suspect that the value will take a major hit. In either case, I'm going to spend $400 or so per month in depreciation. Why not drive a new car with a warranty?

Most importantly, we have a white car & my wife prefers another color (enough said!).

I'd prefer to buy locally. However, Texas is part of the Gulf States Toyota Franchise (a.k.a. racket). Thus, you typically have to buy about $2000 of additional "Extra Value Packges" (read: Junk) and still buy at Sticker price.

The Sales Tax on cars here is 6.25%. It is offset by the amount of your trade-in. In other words, I'd pay about $1800 in sales tax on a vehicle bought outright. I'd pay about $600 on one with my trade-in.

On the other hand, the sales tax is an income tax deduction (major purchase). When you add in 3 days driving time, hotel, fuel, etc. It isn't worth driving to DC for the "hope" that you will get a good price. They, of course, won't value the car sight-unseen.

In summary, the same car here would cost at least $5000 more. I will spend an extra $2000 in sales tax, airfare, fuel to go get it. I'm still about $3000 ahead.

MDA:
I bought a car out-of-state before. I simply brought the paperwork to the tax appraiser's office here and paid the sales tax. If I had been charged tax in the other state, Texas would have given me credit for it. In other words, you pay in one state or the other, but not both. YMMV in other States/locations.

"Delivery Included" means transportation of the car from the Toyota plant to the Dealer.

BTW.... Fitzmall will pick you up at the airport when you come to get your vehicle.

 

MDA,

I live in Indiana, and here is some info off of the Indiana BMV site:

State law requires Indiana residents to pay a seven percent sales tax on any newly-purchased vehicle. If a vehicle is purchased from a dealership, the dealer will collect the sales tax. If a vehicle is sold privately, the sales tax must be paid at a license branch when the purchaser titles the vehicle.
Motorists who purchase a vehicle from an out-of-state dealer or individual will receive credit for taxes paid in that other state. If the motorist paid less than seven percent they will need to pay the difference to Indiana.
Some states will allow a person to purchase a vehicle and not pay taxes on it when taking it out of that state. Other states will tax the transaction. Depending on the percentage of tax paid to the other state, the Indiana resident may be charged or credited the difference between the other state's sales tax and Indiana's sales tax.
An out-of-state individual becoming an Indiana resident, who has previously titled and registered the vehicle in another state, is not subject to the Indiana sales tax.

Looks like it all depends on the state where you buy, and the state where you title it.

 

Oh Yeah, If anyone is in the Austin area and interested in a used TCH in very good condition, let me know. It will be available in a few weeks when my new one arrives.

 

I don't understand how this place is able to offer such a great deal on the loaded TCH. It looks like they are selling another fully-loaded TCG out of their CHAMBERSBURG, PA store for $29,171 which is about $2,000 more than I just paid for my fully loaded TCH. Is this for real? How do they do it?

 

$29,171 is about $2,000 more than you paid??? So you paid $27,171?? I'm so confused...

 

Wellll. I just got a call today should pick up my TCH on 11/9. I'll let you know how "Real" the deal is when I get back. I'll come down and the across Tennessee. Hopefully the leaves will be "just right" about then!

They confirmed $131 above Invoice + $100 paperwork charge.

If you think about it, they make the $231 above, plus the holdback $600 (2%), plus whatever extra incentives they get from Toyota for being an uber big dealer.

In short, they make it up in volume!