Tax Credit in CA for trade in to new car?

[Anonymous]

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@Creditaddict wrote:
I always go to carmax for trade ins

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You mean you purchase your car via Carmax? ive heard of them before but not exactly sure what they do ... I'll check but don't they give you value of your car if thats what you mean? Do most dealers follow carmax appraisal?

[Anonymous]

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@Creditaddict wrote:
I always go to carmax for trade ins

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I see they buy/sell cars. I actually heard of them but was afraid they would lowball. Do they actually give you better offers than the dealer?

[Creditaddict]

They give you wholesale based on what's going through auction now... They have always been higher than dealers and no haggle!

[Anonymous]

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@Creditaddict wrote:
They give you wholesale based on what's going through auction now... They have always been higher than dealers and no haggle!

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Wow.. I wonder if they have one in NY. This is the first time I'm hearing this. So do you sell your currentl vehicle to them and then buy a new one thru them? Is this the dealer you went to today?

My truck:

2012 Jeep SRT8

38k miles

Towing package

Excellent/Good condition

Pretty much all features including tow package except PANO roof.

Any idea what I can get for my truck from them? Cant seem to find anywhere to value the truck. Not sure if you have access to this being a member?

[Anonymous]

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@Anonymous wrote:

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@Creditaddict wrote:
They give you wholesale based on what's going through auction now... They have always been higher than dealers and no haggle!

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Wow.. I wonder if they have one in NY. This is the first time I'm hearing this. So do you sell your currentl vehicle to them and then buy a new one thru them? Is this the dealer you went to today?

My truck:

2012 Jeep SRT8

38k miles

Towing package

Excellent/Good condition

Pretty much all features including tow package except PANO roof.

Any idea what I can get for my truck from them? Cant seem to find anywhere to value the truck. Not sure if you have access to this being a member?

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The closest Carmax to me is 145 miles away.... do you have to physically take the vehicle in for a quote or would they accept maybe photos or send someone out to me? Ill contact them tomorrow. I just read other posts with people saying CarMax did indeed offer more than the dealer.

[Anonymous]

And of course theyll pay off the vehicle if its being financed right? That shouldn't be an issue that we owe on the vehicle i  suppose?

[Anonymous]

Bah, surprisingly they don't have any in New york.. the closest one to me is in Conneticut. I was interested in seeing what they'd offer:

3. Can I get my car appraised online?

You must bring your car to a CarMax store to receive an appraisal. To determine your offer, one of our appraisers will need to inspect and test drive your car. When we're done, we'll give you a written offer good for seven days.

[Anonymous]

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@jim44 wrote:

@Anonymous, Sadly it's true about California.  NO sales tax credit is allowed on the trade value of a new or used motor vehicle. Even if you purchase a vehicle in another state you'll be subject to the sales tax laws of your state of residence if applicable.  @ Irish, not all car salespersons are idiots.  I work for a car dealer and we pride ourselves in training our sales people all about sales tax laws in our state. However we don't expect them to know the sales tax rate in every state and we do sell a heck of a lot of cars and trucks online and at our two lots for residences of other states as well as Europe and Canada.  Maryland doesn't charge sales tax, they charge an excise tax on the fair market value of the motor vehicle.  Several other states are similar or they charge ad valorem or highway taxes. Only three states that I know of don't charge any kind of taxes on the purchase of a motor vehicle.

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I didn't mean to insinuate that all car salesperson were idiots, just made a reference to that one.  I spent 17 years in the busines, all in sales mostly as a manager, so I know it well.

[jim44]

CarMax is a dealer.  We've sold cars to them through auctions for years.  I'm not too sure on their prices, you may have to check them out for yourself whether they will give you more for your car than another dealer.  And as you've stated they would have to physically see your Jeep. I know for value, we use what is called Black Book pricing.  We also use a national dealer auction database for selling price averages based on condition of the vehicle, mileage, vehicle history (accidents, rentals, lease) etc.  There is also price differences on vehicles from different parts of the country such as the midwest vs the south vs new england states. etc.  Used car prices and values to me have been a lot higher than say 3 years ago due to several different reasons. Used car prices can also depend on trends. What model Jeep do you own Stonesy? Grd Cherokee, Wranger?  A dealer might give you just below NADA for your vehicle or more, depending on some factors, however they are in the business to make money also. 

[sccredit]

In my experience with CarMax (sold 2 cars to them) if you want a rough estimate on the worth of your vehicle look on their site for similar cars, then back off $4k.  That will give you a rough estimate that, again - in my experience, is pretty close.