Just sold to Vroom...

[doolin64]

I keep seeing everyone saying they’re paying taxes on their trucks if they sell it.... can you explain how your paying taxes on the sale of your truck ?

If I were to just sell the truck to Vroom, I won't be paying any taxes. But if I sold my truck, I'd be buying another (still need/want truck). Most likely in the same price range. If I bought a new truck for say $60k it would really cost me $63,750. The extra $3,750 is MA sales tax of 6.25%. In MA when trading in a vehicle, you pay the difference between the sale price and trade price. So for example, say the dealer offers me $52k for my truck on a trade. I'd pay taxes on $8k ($60k-$52k) instead of $60k. Taxes would only cost me $500 in this scenario making my out the door cost $60,500. Even though I received $3k less on a trade over Vroom, it actually saved me $3,250 in taxes. So I come out going the trade in route. Now, if I'm buying a lesser truck or my trade in value was better than the $55k then I wouldn't blink at selling to Vroom.

 

[‘19ramlveryeha]

I believe California charges on the full price regardless of trade in. Not on the difference between trade and purchase. Sad.


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[SBrentnall]

I believe California charges on the full price regardless of trade in. Not on the difference between trade and purchase. Sad.


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You are correct. So for us and @Bay Area RAM, there's no tax difference between trading in and selling privately.

 

[‘19ramlveryeha]

You are correct. So for us and @Bay Area RAM, there's no tax difference between trading in and selling privately.

Well you do need to pay a “use” tax for the sale. Not sure what that is.


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[Bearman95]

I got a Kelley blue book offer from three dealers of 50,500 for my Laramie Sport 2020 model with 6700 miles on it. I got an auto nation offer of 49,000. I ended up trading it yesterday to a dealer for a 2021 Longhorn 2500. They only came off the sticker on the Longhorn by $2700, But they gave me 49,000 for my Laramie 2020 model. That’s what I paid for it in September 2019. They only had four or five trucks on their lot and only one 2500 longhorn. I think I came out OK.

 

[Moparian]

Talked to my brother earlier and he said my truck is worth $52k right now. That’s like 1500 under my payoff. I have a 97 civic that he said would be worth 2-2500. It’s tempting I’m not gonna lie, I rolled a significant amount of negative equity from my Mustang and I can basically wipe all that out. Think I might pull the trigger on a JLU and ride that until the market resets then I can get back into a 2022/23 when they start getting back to the 12-14k off MSRP.

 

[jdmartin]

Talked to my brother earlier and he said my truck is worth $52k right now. That’s like 1500 under my payoff. I have a 97 civic that he said would be worth 2-2500. It’s tempting I’m not gonna lie, I rolled a significant amount of negative equity from my Mustang and I can basically wipe all that out. Think I might pull the trigger on a JLU and ride that until the market resets then I can get back into a 2022/23 when they start getting back to the 12-14k off MSRP.

What's a JLU? And what about all the money you spent on all those upgrades in your signature?

 

[IvoryHemi]

What's a JLU?

Jeep Wrangler Unlimited

 

[Moparian]

What's a JLU? And what about all the money you spent on all those upgrades in your signature?

It will be taken off and either sold or I'll hold on to it for whenever I get back into a truck.

 

[jdmartin]

Jeep Wrangler Unlimited

How come it isn't abbreviated JWU? What does the "L" stand for?

 

[brian42]

I think JL is the model like DS or DT is for the RAM 1500.

 

[Moparian]

How come it isn't abbreviated JWU? What does the "L" stand for?

JL is the model code for the current gen Wrangler. JK was the previous gen. They have always been referred to by their model codes. CJ, TJ, YJ etc.
JL is a 2 door Wrangler, JLU(unlimited) is the 4 door. Same for the previous gen. TJ didnt have a 4 door model. Gladiator is only 4 door so its JT.

 

[jdmartin]

JL is the model code for the current gen Wrangler. JK was the previous gen. They have always been referred to by their model codes. CJ, TJ, YJ etc.
JL is a 2 door Wrangler, JLU(unlimited) is the 4 door. Same for the previous gen. TJ didnt have a 4 door model. Gladiator is only 4 door so its JT.

OK, I got it. I had a couple of YJs so I get that part. Had no idea that the "J" wasn't the second letter anymore. I knew it went from YJ to TJ but lost track since then. I bought my grandson a 2001 TJ last year for his 18th birthday/graduation, and that was my first real look at the "new" Jeeps up close - my Jeep experiences were always CJ and YJ.

 

[Willwork4truck]

OK, I got it. I had a couple of YJs so I get that part. Had no idea that the "J" wasn't the second letter anymore. I knew it went from YJ to TJ but lost track since then. I bought my grandson a 2001 TJ last year for his 18th birthday/graduation, and that was my first real look at the "new" Jeeps up close - my Jeep experiences were always CJ and YJ.

Hey I’m currently without a jeep or a truck. Can I be your older grandson?

 

[jdmartin]

Hey I’m currently without a jeep or a truck. Can I be your older grandson?

I can't afford any more grandkids!

 

[jimk hunt]

Talked to my brother earlier and he said my truck is worth $52k right now. That’s like 1500 under my payoff. I have a 97 civic that he said would be worth 2-2500. It’s tempting I’m not gonna lie, I rolled a significant amount of negative equity from my Mustang and I can basically wipe all that out. Think I might pull the trigger on a JLU and ride that until the market resets then I can get back into a 2022/23 when they start getting back to the 12-14k off MSRP.

Do it! This could be a one time chance to correct that mistake.

 

[Finn5033]

A week ago Vroom offered me $44,850, offer expired so I ran it again today and it went up to $47,200.

I ran it again because I have decided to upgrade to an HD truck. It is really nice having either the option to sell to them, or use it as leverage to make a deal at the dealership

 

[Bay Area RAM]

Use your vroom quote and KBB quote as leverage..... dropping off my truck today. Initial offer was 50k and then I showed them the quotes and they went up to $53k even.... cash in hand. Ordered a 22’ limited, I guess I’ll be commuting on my motorcycle for awhile.

honestly sad to see it go but that small bed was killing me.... new limited will have the 6.4 And a few small item were starting to pop up as it was a 2019..... they always say don’t buy the first year of an All new car.

 

[Finn5033]

Use your vroom quote and KBB quote as leverage..... dropping off my truck today. Initial offer was 50k and then I showed them the quotes and they went up to $53k even.... cash in hand. Ordered a 22’ limited, I guess I’ll be commuting on my motorcycle for awhile.

honestly sad to see it go but that small bed was killing me.... new limited will have the 6.4 And a few small item were starting to pop up as it was a 2019..... they always say don’t buy the first year of an All new car.

I hear you big time on the bed length. My last Ram was a crew with the 6'-4 bed. My current truck is the short bed and I hate it

 

[Willwork4truck]

$47k for a Big Horn? Wow

Hey I saw you on the Durango forum... answering a towing question a month ago. And then paged back some more and saw your "Movin On" post about trading off the Durango for the RAM. Now I get it!

Wifey is liking the Durango awd with regular hemi as opposed to "Tow-N-Go" or SRT. Decisions decisions...