Do I Sell Before I have the New MME?

[TGIF]

So my new MME is built, ETA August 9-15. Do I go ahead and sell the old MME or do I wait for the bird in hand? I have another car so I’m not left without transport. I had planned to take my Carvana, CarMax, etc quotes in to use as leverage for trading in—just easier that way. DH doesn’t want to be bothered with driving me 1 1/2 hours to the dealer and there’s no tax on the trade-in value. I miscalculated and thought quotes were good for 30 days, but nope only 7 and I’m supposed to be out of town the 10th to 15th. Has anyone gotten an early trade-in quote from the dealer? Is that a thing?

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[OrchidMania]

If you become a member of carvana. I think you have more than 7 days. I used carvana which was way higher than the dealer could do.

 

[connoisseurr]

Get an offer from Driveway, which has been paying out the highest, and see if the dealer will match.

 

[generaltso]

I’d wait. What if the new one arrives damaged or something?

 

[RickMachE]

Many threads on this.

These services - Driveway.com, Carvana, Carmax, CarBuyerUSA are all different depending where you live. And, private selling will likely beat those. Some give you more time - Driveway lets you accept the offer, but they take a month to finalize things and you can sell in the meantime. Carvana lets you have more time if you get an account. And, you can of course just requote. Prices are going up, not down.

I sold mine 7 weeks after the new one came in for the "it might be damaged" reason, etc. Once I took delivery, I put it up for sale.

Also, I sent you a DM.

 

[ChuckA]

If you can afford the overlap, I’d sell it the morning you schedule the new purchase and then bring the plates to the dealer. I wouldn’t trust Ford’s ETA. A bird in hand is the best choice, imo.

You can go inspect it, then sell the current one, then close in the new one.

 

[voxel]

Get an offer from Driveway, which has been paying out the highest, and see if the dealer will match.

Not any more. I found two people (on FB) who sold to Driveway ($59K and $60K) about a 45+ days ago and Driveway had to lower their selling prices which are now below the amounts they paid for them. Driveway is losing money on them.

Also, my offer from them sucked ($58K for a 3 week old Premium AWD ER) and my Ford dealer just paid me new 2022 MSRP (plus FL tax savings) when I traded it in for a GTPE yesterday.

To the OP... I'd try all major car buy services to get a general idea of what it is worth and hopefully the dealer can match the upper end of them (via tax savings in trade in).

 

[TGIF]

I can afford the overlap, but that would mean I own four cars which seems a little excessive for one person. I’ve got to sell some cars! I may sell another older car to a niece.

I also don’t like the idea of being without an EV. I am loving this car.

 

[TGIF]

Not any more. I found two people (on FB) who sold to Driveway ($59K and $60K) about a 45+ days ago and Driveway had to lower their selling prices which are now below the amounts they paid for them. Driveway is losing money on them.

Also, my offer from them sucked ($58K for a 3 week old Premium AWD ER) and my Ford dealer just paid me new 2022 MSRP (plus FL tax savings) when I traded it in for a GTPE yesterday.

To the OP... I'd try all major car buy services to get a general idea of what it is worth and hopefully the dealer can match the upper end of them (via tax savings in trade in).

I’m hoping the dealer would come in on the upper end and am willing to let them have some of the tax savings. Just having trouble with potential timing of getting offers to have in hand, plus the uncertainty of the Ford ETA.

 

[SWO]

Not any more. I found two people (on FB) who sold to Driveway ($59K and $60K) about a 45+ days ago and Driveway had to lower their selling prices which are now below the amounts they paid for them. Driveway is losing money on them.

Also, my offer from them sucked ($58K for a 3 week old Premium AWD ER) and my Ford dealer just paid me new 2022 MSRP (plus FL tax savings) when I traded it in for a GTPE yesterday.

To the OP... I'd try all major car buy services to get a general idea of what it is worth and hopefully the dealer can match the upper end of them (via tax savings in trade in).

Just traded in my Select AWD for my GT order Friday and this was my experience as well. Dealer offer came out ahead of all the online offers by $2k when including the sales tax savings.

ALL my best offers came from local dealers.

My advice for the OP is don't sell now unless you can accept possibly having no MachE at all if something happens (vehicle totalled in transit, dealer shenanigans, etc.).

Prices are dropping, but if you can get a fair trade in and can count it against sales tax for the new vehicle, you'll probably still end up ahead.

 

[fpasta]

Wait for the new car to ship then sell.

 

[RickMachE]

Just traded in my Select AWD for my GT order Friday and this was my experience as well. Dealer offer came out ahead of all the online offers by $2k when including the sales tax savings.

ALL my best offers came from local dealers.

- Some states provide NO sales tax savings for trading in. Some provide partial. In those states, you would have not come out ahead I assume.

- Who has the best price is very much local-specific. My dealer wouldn't even make an offer, because he knew it would be in vane. The services had an almost $9,000 difference from high to low. The highest offer I got was from a dealer 5 hours away, they came the next business day and took it.

Nothing anyone does is translatable to others in this market, because if nothing else next month is a different market.

 

[SWO]

- Some states provide NO sales tax savings for trading in. Some provide partial. In those states, you would have not come out ahead I assume.

- Who has the best price is very much local-specific. My dealer wouldn't even make an offer, because he knew it would be in vane. The services had an almost $9,000 difference from high to low. The highest offer I got was from a dealer 5 hours away, they came the next business day and took it.

Nothing anyone does is translatable to others in this market, because if nothing else next month is a different market.

Sure, if you live in the sticks, your local dealer probably can't get as much for your trade. I got offers from everyone and was passing along my experience. OP should get offers from everyone as well.

As for the national dealers, price variance seems to have more to do with their current inventory or financial situation. Vroom has been giving out lowball offers the last 8 months because they paid too much for everyone's beater in 2021.

 

[generaltso]

- Some states provide NO sales tax savings for trading in. Some provide partial. In those states, you would have not come out ahead I assume.

Yup, the sales tax credit varies widely by state. In Vermont, you get full credit for sales tax if you sell the old car within 90 days before or after buying the new car. It doesn’t matter who you sell it to. I sold my last 2 cars to Vroom and just brought the bill of sale with me to purchase the new car with less sales tax.

 

[RickMachE]

Yup, the sales tax credit varies widely by state. In Vermont, you get full credit for sales tax if you sell the old car within 90 days before or after buying the new car. It doesn’t matter who you sell it to. I sold my last 2 cars to Vroom and just brought the bill of sale with me to purchase the new car with less sales tax.

In Michigan, in 2022 you're limited to a value of $8,000 (used to be zero, goes up each year by $1,000) IF you trade it to a dealer.

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