Hello! I have a situation here. I will be going into the military, and as much as I love my S2000, I think I need to trade it for something else as it will be my daily driver now on (I have a beater car now). I will have to drive from Virginia to Alabama, and back to Virginia and then to Texas/Florida and etc once I start my air force training. You get the idea. Some people might think this sounds lame, but I really don't think I can live with the S2000 as my only ride.. I'm pretty set on getting a different ride, and I need suggestions/help on what is the best way to go about doing this.

I'm looking at WRX, base 350z, Evo, or nissan Xterra and other SUVs. My s2k is a MY2003 with 9000 miles. I owe about 27k on it right now and I know the dealer wont give me more than 23k for the trade in. Should I avoid the trade in at all costs and sell the car privately? How does this work regarding the transfer of title and all that? Basically, I've never done this before (selling a car privately or doing a trade in) and dont know whats involved.


All responses appreciated !

(If the s2k was anything like a honda prelude or the 350z, I wouldnt even think about selling it.. but S2000 is just too much of a pure sports car. Thats why I LOVE IT!! But its gotta go..)

 

If you want to get maximum dollar out of it, sell it private party. If you trade it to a dealership, they will really screw you over.

 

not sure the logic s2000-->350z...not too much more room and storage space (if any).

 

Your options vary quite a bit. I guess the first thing you should do is decide if you'd rather have an SUV or a car. From there, I'd take into consideration the amount of stuff you would need to haul back and forth. If you are looking for a perfect blend of space and performance, then I'd choose the Evo hands down.

On the other hand, if you are tired of driving sports cars and value the additional room, then an SUV would be the best choice.

My personal opinion in terms of acheiving the best in carrying capacity and overall room would be the Evo. You gain quite a bit in performance over the S2000 while doubling your cargo room.


Good luck with your decision

 

I'd sell it privately too.

 

the only advantage of a dealer trade is the tax break.

 

some states tax the entire purchase price, regardless of trade-in credit.

my first step, in order to get a baseline value, would be to drive out to the carmax near dulles. within 30 minutes they will give you an offer. i've sold a car to them in the past, and found their offer well above trade-in. i see people tes driving S's all the time from that store. i think that they move a few of them.

if you can't live with their offer, then try private sale. but don't high-ball expecting respectable offers.

as for getting another sports cars... i think that's an impractical idea. and with all that driving, mostly in the south, an SUV is probably a bad idea too.


btw- others will tell you that carmax is a bad way to go. i had a good experience and have heard the same from others in the area.

 

keep the s, and buy a used truck to haul everything if thats possible. get a trailer and trailer your s2000. just another idea i thought i can throw in there.

 

if gas is an issue, youll burn more in an SUV than the S....I have a trailblazer which does 16mpg

 

Dealer won't "screw you over", he will just give you what your car's worth (wholesale), That's his business! However that should be trade allowance vs CASH price of new car. Let's say you are buying a new car with MSRP of 35k. You should be able to buy for about 32k (unless it's really a hot model) He should then give you about 23k for your car (kbb.com shows wholesale as 23.5k) for a difference of 9k. They may show it as a 26k trade in vs 35k selling price but it's the same diff. Important part is you are truly getting 23k for your car.

So best bet is unually to buy new car for 32k and sell yous privately. HOWEVER, if in your state you only pay sales tax on the trade DIFFERENCE (true in most but not all states), at a 6% rate you will need to sell your car privately for 24.4k just to break even. Add in advertising costs and the hassle factor and it may not be worth it.

There is, however a way to have the best of both worlds. I know it can be done because I have done it several times. Find the new car you want. Now negiotiate your BEST CASH PRICE. Tell the dealer you will buy from him IF he will agree to run your trade through his books if you bring him a buyer. If he won't do it, find another dealer. They may charge $100-200 to do this but it's worth it. Now advertise your car. When you get a buyer and agreed price you both go see the cooperating dealer. He takes your car in trade and immediately sells it to your buyer on the spot. If, after advertising for a while, you don't get a buyer just go ahead and trade your car in. What have you got to lose?