Here is the deal.

I'm looking to trade in my Silver/Black 2002(7500 miles) on a new 2003 Black/Black.

I'm looking for a differential of around $7,000 after tax and license. Which would be some combination of around $35,000 out the door for the 2003 and around $28,000 on the trade.

Has anyone done a similar trade and what were the results.

 

Question, why are you doing this? You will be losing money for this deal.

 

If I were you, I would wait til the '04s are out and get the '04.

 

I realize I am going to take a hit, I accept that.

As far as why....I prefer the black and I usually only keep my cars for a year anyway.

 

How about this, I will buy a 2003 in Chicago for you for $29k and ship it to you, and I will buy your car for $25k, so you only lose about $5000 after tax/license/shipping.

 

it must feel good to be rich

 

To my knowledge there isn't any difference between '02 and '03. If you don't like the paint, how much would it cost you to have it painted yourself?

 

I wish I could take that kind of hit every year and not be affected by it..

 

There are many factors that make the hit a little more palatable.

First if you time the purchase to coincide with the fiscal year of your company, you can pick up as much as $10,000 in depreciation in a span of 13 months.

If you wait three years to trade in your vehicle, you are going to take a pretty good hit on both ends. Your vehicle will depreciate more, and the price of the new vehicle will also increase.

You have practically zero maintenance costs, No new tires, clutches, only one oil change(about $35).

When you consider all the factors, the $7,000 hit is not really $7k at all.

With the exception of the sales tax($2,500) which you can't do much about, that leaves $4,500. The $10,000 depreciation you can deduct on your taxes will decrease your income tax by about $3,000. This then leaves about $1,500 which could easily be gobbled up by new tires, maintenance, clutches, and all other non-warranty charges.


Add the satisfaction of driving a new car every year, and it is not really that bad.

 

well damn...but you don't get to mod your car...

me = mod junkie