Does the tax benefit still apply with used vehicle purchases?
In Ohio it doesn't.
By far, the best place to sell a vehicle is an auction. Everyone know you get top dollar selling at an auction.:bwahaha:
Seriously, know what your vehicle is worth. Know that a dealer makes THOUSANDS on used cars. The average dealer will make $2,000, or more, on a used car, so they will almost ALWAYS low ball you. Know what it is worth and stand firm.
They will usually give you some crap about the market, why SUV's (insert any car here, just depends on the situation) dont sell that well, etc. You will never have the vehicle everyone wants, unless you are buying it. Then it is such a hot car, you are lucky to find one on the lot.
Dealers are not your friend. They do not care about you. They care about making a sale and making money on it. They will cut off their nose to spite their face. They will sell cars at auctions at a loss, but will not sell to you to break even.
Stand your ground and be a jerk to them. Keep control of the deal. NEVER let them run the show. You have the money and they want it. Make them earn it!
I deal with one dealership and when I walk in to buy a vehicle, I make it clear that during this deal, I am not going to be a nice guy. After the sale, I talk to everyone and am very friendly and helpful, but during negotiations, I will be a jerk and I will be the leader. If they do not like it, I will go somewhere else.
I WILL NOT pay a document fee! This is the cost of doing business for them. I do not pay Home Depot to ring me out so there is no reason for me to pay them to do the same.
I do not play games. You tell me what you want for it and I will tell you what I will pay for it. You do not need to confer with your boss. The deal is between you and I. You know what the boss needs out of it. My deals are short and sweet. If you think me walking out over $100.00 is being petty, then you need to look in a mirror. The best thing I ever heard was this...
"You are not going to walk out over $100.00 are you?"
My response, "Are you going to make me walk out for "only" $100.00?"
Know what vehicles are selling for that you are trading in. Used lots, buy here-pay here, new lots with used cars, private parties, etc. and set your price.
If more people purchased that way, everyone would be more successful in the auto industry. Games are a thing of the past. Don't be afraid to walk out.
Tom