Need selling advice

[lexs470]

Need selling advice.
I have already placed at for sale ad in the forum, but due to recent situation, I need to sell the lx470 to pay of the loan rather quickly.

See the post: https://forum.ih8mud.com/showthread.php?t=41326
However, I would like to know where I can just take the lx and get the money instead of trying to sell it privately by placing ads. I don't seem to have the luxury of time at the moment.
Any advice would be appreciated.
Would the lexus dealer just take it and pay me if I'm not using it as a trade in ? how about the private use car dealers... I haven't gone this route before and therefore need some information.
thnx.

 

[jjbodean1970]

yes, you can sell the vehicle to anybody, including a new or used car dealer. if the dealer does not offer your payoff you will need to make up the difference in cash to have the loan paid in full and the title released on your vehicle.

good luck

 

[Heffenoche]

Do you have a CarMax in your area? They will quote you a price that is good for a few days/miles.

 

[tabraha]

Yeah, carmax is probably the best option to unload it quickly. They gave me a great deal when I unloaded my Acura when the tranny blew. I used their price to bargain trade-in value when I bought my Lexus.

Tad

 

[ace10]

carmax. they always pay too much, as evdenced by their absurd asking prices.

if you've got anything materially wrong with the car, be sure to disclose.

 

[ff347]

carmax, 45 min. and you can leave with a check. i have sold them two, a Honda that they gave me 2000 more than I was going to ask for, another for a dodge truck just to get rid of that piece of sh#* before the warranty ran out! good luck!

 

[lexs470]

question regarding carmax or dealers, when they write the check does that include the tax as well or do I not get the tax on top of their buying price ?
Would selling to the dealer be any different than selling privately from a tax perspective ?
thnx.

 

[98LXand99LC]

question regarding carmax or dealers, when they write the check does that include the tax as well or do I not get the tax on top of their buying price ?
Would selling to the dealer be any different than selling privately from a tax perspective ?
thnx.

I'm not sure about your state but in Florida, taxes are the responsibility of the buyer. So, they will give you a check for just the car. If you sell it to an individual they will have to pay taxes when they register the vehicle. If you sell it to a dealer, I don't think they pay sales tax. However, they will collect it from anyone that buys it from them.

 

[jjbodean1970]

I'm not sure about your state but in Florida, taxes are the responsibility of the buyer. So, they will give you a check for just the car. If you sell it to an individual they will have to pay taxes when they register the vehicle. If you sell it to a dealer, I don't think they pay sales tax. However, they will collect it from anyone that buys it from them.

absolutely correct! you will lose any taxes that you paid in the original deal, no way to recoup them unless you were to trade your vehicle in on another one and in that case you would receive credit for the amount of your trade in and only pay taxes on the difference between the new car and the trade. but selling outright to a dealer, individual, whatever, you only get the amount of the sale.

 

[ace10]

absolutely correct! you will lose any taxes that you paid in the original deal, no way to recoup them unless you were to trade your vehicle in on another one and in that case you would receive credit for the amount of your trade in and only pay taxes on the difference between the new car and the trade. but selling outright to a dealer, individual, whatever, you only get the amount of the sale.

in SOME states you pay tax on the net value of the transaction, meaning agrred-up purch price less any trade-in credit, while others you pay on the entire purchase price, regardless of the source of funds.

 

[jjbodean1970]

yeah, but those are only back-assward states like maine and south dakota





































just joking, no offense to anyone from ME or SD. hell, i'm in alabama for crying out loud, the state that won'y let me get IH8MUD on my license plate....