Used SR+ purchase help - 2021 Upgrade worth it?

[father_of_6]

Oh, yes. I'm tracking that. For next year's tax return I would receive a tax break. However, I am coming from a Jeep and I'm getting a sizeable amount towards a Tesla from being far ahead of it's worth from a particular location. Tesla can't come close to the offer, so I don't want to lose out on it, so that's why I'm looking used.

I'm not sure I understand. If your Jeep has value on the market, sell it and buy the Tesla. Try Carvana or Vroom or one of the others... or sell it yourself and you'll get the most for it... then buy the new SR+ and get a tax credit next year.

 

[ODWms]

I thought I read on here that the tax credit was available up front somehow?

 

[Hunteruu]

I haven't seen where it's upfront.

I'm not sure I understand. If your Jeep has value on the market, sell it and buy the Tesla. Try Carvana or Vroom or one of the others... or sell it yourself and you'll get the most for it... then buy the new SR+ and get a tax credit next year.

I would, but Georgia has an interesting way to collect taxes on vehicles. We pay nearly 7% upfront for the vehicles value to register it. My Jeep was nearly $4k to do so. To "help" when you get a different vehicle, Georgia will take the taxes you already paid, and apply them to a TRADE only. So if I sell outright, I will be out the taxes I already paid, plus I would have to come out of pocket again when registering a new vehicle. So all of my equity would be gone by doing that. It's kind of ridiculous, but that's why I'm going third party.

Tesla was about 4k off of the offer I got, so I would sill save a little money by going through them and getting the tax break, but getting closer to the March deadline makes it difficult to find one available and for a decent price.

 

[father_of_6]

Tesla was about 4k off of the offer I got, so I would sill save a little money by going through them and getting the tax break, but getting closer to the March deadline makes it difficult to find one available and for a decent price.

Tesla's vehicle prices are non-negotiable, but they *do* have some leeway on trade-in prices. You might do well to tell a Tesla sales advisor that you'd pull the trigger on a new SR+ right away if they can match your trade-in offer from the other dealership.

I'd personally just have a hard time buying used for essentially the same price as new (after tax credit).

Ideal scenario, Tesla matches or comes close to your other trade-in offer so you can avoid the Georgia tax, then you get a new SR+ and the $7,500 tax credit.

 

[3sr+buyer]

Oh, yes. I'm tracking that. For next year's tax return I would receive a tax break. However, I am coming from a Jeep and I'm getting a sizeable amount towards a Tesla from being far ahead of it's worth from a particular location. Tesla can't come close to the offer, so I don't want to lose out on it, so that's why I'm looking used.

Why not just sell the Jeep separately from buying the replacement?

 

[father_of_6]

Why not just sell the Jeep separately from buying the replacement?

That was already addressed here:

I would, but Georgia has an interesting way to collect taxes on vehicles. We pay nearly 7% upfront for the vehicles value to register it. My Jeep was nearly $4k to do so. To "help" when you get a different vehicle, Georgia will take the taxes you already paid, and apply them to a TRADE only. So if I sell outright, I will be out the taxes I already paid, plus I would have to come out of pocket again when registering a new vehicle. So all of my equity would be gone by doing that. It's kind of ridiculous, but that's why I'm going third party.

 

[XPsionic]

What a great law to keep the car dealerships in business!

 

[father_of_6]

What a great law to keep the car dealerships in business!

Might also be to stop people from buying cars in other states and not paying the sales tax to Georgia. Or who knows how many other reasons.

 

[3sr+buyer]

I would, but Georgia has an interesting way to collect taxes on vehicles. We pay nearly 7% upfront for the vehicles value to register it. My Jeep was nearly $4k to do so. To "help" when you get a different vehicle, Georgia will take the taxes you already paid, and apply them to a TRADE only. So if I sell outright,

Is the Jeep easy to sell outright to a private party for significantly more than a trade-in or sale to a dealer?