Tow Vehicle Prices!

[Freemont]

Originally Posted by BB_TX

Don’t know how it is in NY. In Texas we have a 6.25% sales tax on new vehicles. But that is calculated on the after trade-in price. So if the dealer offered say $40,000 trade-in, that reduces the amount of sales tax by $2,500. Or essentially meaning you get $42,500 credit for your $40,000 trade-in. Can make a difference on deciding whether to try to sell it yourself or trade it in.

As a side note, when I bought my 2012 F350 new the dealer had a link on his web site “Value your trade”. Clicked it and filled in the details, and it said my 2007 F350 had a trade in value of $21,000. But in initial sales negotiations dealer offered $15,000. I showed him a printout of his link and asked him to explain the difference. He offered $17,000. I started toward the door. He offered $19,000. I continued toward the door. He offered $20,500. I thought about going on out but decided to let him have his “little victory”.

Same in NY with sales tax.

[MOODY]

Lack of new inventory which has dried up the used inventory. My daughter traded her 2 year old F250 diesel (and waiting 2-3 months for her new truck) and only lost 3k from what they paid 2 years ago. Lack of computer chips has slowed the production of new trucks. All car manufacturers canceled their computer chips during COVID and those chips were reallocated to the laptop, desktop and other computer industry and has not recovered yet. During COVID with Free Monopoly $$$$ the sales of home computers went through the roof!

[socoinc]

In 2018 I bought a new Ram 3500 Laramie Mega Cab for $59,200 out the door. I have 42,000 miles on it & only use it to my 2017 Montana HC so it sits in the garage most the time.It’s the 1st time in my lifetime that the truck is worth more than I paid for it new. It has all the bells & whistles.

[Dave W]

Help is on the way!!
Maybe late next year those trucks will start moving again with a second multi billion dollar chip plant now being built by Global Foundries, originally AMD. Sure helps with my county tax bill since that plant is only about 5 miles up the road. Their first plant was supposed to be about $2-3B but ended up at about $5B. Also helps my resale value on the house which has tripled since they built that first plant..