Hi all, have a 2017 Grand Cherokee with 4 payments left. Will be about 5k over mileage but car is pristine. Would like to trade @ BMW for X5. Please attached payoff quote from Chrysler Financial. I am in AZ; am I correct that BMW’s payoff amount is minus the sales tax since they will re-sell? Trying to determine what true dealer payoff is since will be negotiating over email. I asked Chrysler for a “dealer payoff” but they say no such thing exists and just send me this. Thanks all!
Lol getting a bmw in AZ isn’t prudent
Because…?
If the dealer is permitted to buy out the Jeep from FCA, then their buyout will be less sales tax, but you will loose any offsetting sales tax benefit at trade-in. If you buyout the Jeep from FCA, and then sell it to dealer, you will have to pay sales tax, but you will get an equivalent offsetting sales tax benefit on the new purchase. Usually, it’s pretty close to a break even proposal when you are in a purchase scenario. In a lease scenario, not every dealer will allow you to take advantage of the sales tax offset so you are better off letting the dealer purchase it directly.
This is not a great time to try and negotiate on a trade in, as the wholesale markets are completely shut down and the dealers don’t really have the typical outlets they would normally use to move a trade-in they can’t sell on their lot. If you look at some of the Carvana & Zoom threads, you will notice that their appraisals have dropped tremendously since the pandemic really started. I would wait it out to the end of your lease…
Chapman arrowhead and Scottsdale dont do favorable deals
Wait 4 months and start off clean.
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Agreed. Had great luck at Chandler, always been fair and 10-13% under.
Like i said lol
Might have to. Was hoping to take advantage of dealers really wanting to deal right now. Worried July/August things will be booming again and no deals.