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- Thread starter tashtibet
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carlos31820
Member
It may be easier to sell the Bolt EV and give your son the proceeds from the sale.
You would probably get a better deal by doing that than by trading in... if you are dead set on trading in, sell the Bolt to your son, and then he can trade it in on the Tesla.
Keith
Wouldn't they need to wait for the pink slip? Not sure what the backlog is with DMV with getting that over. Might just be easier to use KBB Instant Offer or something like that if OP wants the "Trade in" experience (Not finding a private buyer) then give the cash to the son. Not sure of tax implication.
RoBoRaT
PoPeYeD'SaiLoRDuDe
Maybe do two person registration (you and son) so you can get in the sale transaction and also trade-in your Bolt.
Sell it yourself! Trade in's just complicate the deal and make the purchase more expensive. A Bolt should be in high demand. Use Kelly, Edmunds, Autotrader, etc... to get a good estimate of it's value according to its condition, post it on Autotrader (and/or a local for sale site) and don't let some used car dealer talk you down so they can re-sell it. It's not a high dollar car so you should get offers quickly I'd bet. You can do this!!
ATPMSD
Active Member
In many states, sales tax is offset by trade in value. Check out how it is handled in your state, and which would benefit you financially the most.
In my old state of residence you were able to use the value of a car you sold in a private party sale to offset the sales tax on a new vehicle... you had to have a bill of sale and it had to be within a certain time limit (30 or 60 days, I don't remember) but it was a really good setup. I used the sale of my Miata (private party sale) to offset the sales tax on my MYP. No idea if they have the same type of thing in my new state.... but check out your local laws
Keith
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