trying

[ViciousJay]

Alright guys I'm trying to not make this a worthless post but im trying to sell my 03 L for a Cobra, theres a few hurdles i need some advice on 1 being i need to trade it for it and 2 im upside down on my loan. I have excellent credit and i know im gonna take a small hit on it but what should i do or if anyone has some ideas out there please help cuz i plan on putting like 3k down but not sure if thats enough, inside help would be greatly appreicated

 

[broke7]

I took a hit on my other vehicle when I traded it in....im getting even now

 

[ViciousJay]

what did u have?

 

[ViciousJay]

and if you dont mind how much of a hit and what r your payments now?

 

[Rwick7]

With the Tax credit you'll get trading in it's probably just better to trade in.

 

[ViciousJay]

tax credit????????

 

[ViciousJay]

whats the tax credit for , and what is it?

 

[04cobratorchred]

How much do you still owe on the L?

 

[Rwick7]

You'll get a credit for however much they give you on trade in for the L

For instance

L trade in = 23k
Cobra Price = 30k

You only pay tax on 7k, which means you would have to sell your car for about 1600 more to make the difference in the tax you would save...make sense?

Randy

 

[ViciousJay]

kinda cuz i thought that you had to start all over as far as a trade like, i trade in the L for 23K then the cobra is 30K well i thought they would retax me for the 30 and not the 7K differnece, if you could privately email more infor on this that would be appreicated