2006 QSM GTO with 5K

[RazzinGTO]

Ok guys, I need some help. Got a kid on the way and really need to consolidate somethings so the GTO has to go. I hate to do it and if you buy it you will probably see a grown man cry.

Anyway here it is.
I am selling my 2006 QuickSilver Pontiac GTO. It is the manual 6-speed transmission. Never been raced but some spirited driving did happen.

This car is in perfect shape. It has never seen snow and only rain when it was caught out in it. Even then it was washed asap afterwards. It has always been garaged, hasn’t even spent a night outside anywhere.

It has the black leather interior with custom GTO floormats that have the GTO badge on them. Stock floormats will come with it. It has the stock 6 disc CD changer and 18” wheels. I have installed the CAGS skip shift eliminator and tinted the windows.

I have already had the oil changed twice, both times with Mobil 1 Synthetic and had the manual tranny fluid swapped with Royal Purple. It currently has just under 5000 miles on it so it has been broken in at this point. I have checked KBB.com and for a car in this condition I am pretty close. I want to get as close to what I owe out of it so the $27000 is pretty firm but will take offers. Please PM

We are having a baby so I have to get rid of this baby. Please don't hammer the price, I am willing to discuss offers and really need to come as close as possible to paying it off. I am willing to drive it up to 120 miles to deliver or meet. For sake of sounding pathetic, we really need the help and if you know anyone interested please throw them my way.

Thanks,

http://i118.photobucket.com/albums/o103/RazzinGTO/ GTO_Detailed9.jpg
http://i118.photobucket.com/albums/o103/RazzinGTO/ GTO_Detailed8.jpg
http://i118.photobucket.com/albums/o103/RazzinGTO/ GTO_Detailed7.jpg
http://i118.photobucket.com/albums/o103/RazzinGTO/ GTO_Detailed2.jpg

Please let me know if you have any questions.
Thanks,
JR

[RazzinGTO]

daily bump ttt

[LRAR05GTO]

Thats a good looking car. No front license plate holes will also be a selling point. Good luck with the sale.

[RazzinGTO]

Thanks for the bump. I never could bring myself to drilling into the bumper. Still have all the hardware for it for the next owner though.

All reasonable offers will be considered and I will drive her within 120 miles for delivery. PM if interested.

JR

[RazzinGTO]

Bump to the top - Come on guys. I really need the help. With the baby on the way I need to get some debt off my table. This is the major thing. Let me know if anyone has any questions.

Thanks,
Jim

[StinkFingers]

All new 06's around here are 25,500 or lower.

[RazzinGTO]

All new 06's around here are 25,500 or lower.


I don't think I would be able to take that much of a hit on it but I am willing to listen to any offers. Also - they are still going for around $28,000 here.

Anyone got any?

[Schleprock]

I agree. I wouldn't be interested in anything more than $24k. Lot easier to go down the road here and get one for a couple grand more and not have to travel/take care of all financial paperwork myself.

Car looks great though.

[21XTI]

I just bought my 06 with 4600 miles for $24,100, your more than likely to take a hit and a loss to sell.
Sorry

[RazzinGTO]

Offers? TTT

[RazzinGTO]

$26000 or best offer? Anyone getting warmer?

[Schleprock]

Just an idea what I was getting at:

http://www.ls1gto.com/forums/showthread.php?t=1449 57

Also check PurpleRavens SRM sale a month or so ago. He offered to sell it basically, for the $24k trade he would have gotten just so an enthusiast had it.

[707goat]

I just bought my 06 with 4600 miles for $24,100, your more than likely to take a hit and a loss to sell.
Sorry

Yup, unfortunately our cars have some of the shittiest resale value i've seen...

[RazzinGTO]

I have a couple places I am thinking I will run to this weekend to get some traid in estimates. I agree, I would much rather have an enthusiast buy it then trade it in to the dealer. I will keep people posted.

[RazzinGTO]

Ok so I got one trade in estimate so far. 24.5 is the number they gave me. That puts me at $4400 under what I owe. So at this point price is 24,500. Let me know if anyone is interested.

Thanks,
JR

[Silvereagle]

What would the details be for what you owe on the title that you're 4400 upside down do to the payoff for the new owner? Any complications at all?

[Schleprock]

What would the details be for what you owe on the title that you're 4400 upside down do to the payoff for the new owner? Any complications at all?
very good question.

Razzin. Maybe you are aware. But if you sell it to someone for $24500, you will have to pay $4400 cash out of your pocket as well to sell it to them. They can't take over the car and finance it until you pay that remaining $4400 and get the title.

[All Rise]

Ok so I got one trade in estimate so far. 24.5 is the number they gave me. That puts me at $4400 under what I owe. So at this point price is 24,500. Let me know if anyone is interested.

Thanks,
JR

May not be the case in Nebraska, but in Arizona (and most places that I know of) you only pay sales tax on the difference between new car and trade-in. Don't know what your tax rate is, but 6% of $24,500 is $1,470, so one way of looking at it is your car is worth $26,000 on trade. That effictively leaves you only a couple grand upside down and most dealers will roll that into the new loan. Plus trades are no hassle. Selling to individual can be a pain you know where.

If you can get $24,500 trade that sounds like an offer you ought to seriously consider. Frame of reference: I bought an absolutely immaculate six month from new 06 SRM M6/17 with 3600 miles just last month (Feb 07) for $24,000 from a 60 year old gentleman who had changed the oil at 500 miles and again at 3500 miles.

Just my .02

[RazzinGTO]

Yep I do know that I would have to come up with the extra $4400. I am putting something together to have things in line.

The reason I have not taken the $24500 is because I really would prefer to give somone that is an enthusiast the chance first. I love my car too much to throw it on a lot but in the end if I have to, I have to.

Thanks guys for all the comments and thoughts. Helps a ton.

JR

[Silvereagle]

Well, My motorcycle got sold today, I'm gonna post my -99 GTP for sale locally and see if I get any bites on it....I would be very interested in your low mile GTO. Hardest part for me then would be to get to Omaha, NE and pick it up.

[Schleprock]

May not be the case in Nebraska, but in Arizona (and most places that I know of) you only pay sales tax on the difference between new car and trade-in. Don't know what your tax rate is, but 6% of $24,500 is $1,470, so one way of looking at it is your car is worth $26,000 on trade. That effictively leaves you only a couple grand upside down and most dealers will roll that into the new loan. Plus trades are no hassle. Selling to individual can be a pain you know where.

If you can get $24,500 trade that sounds like an offer you ought to seriously consider. Frame of reference: I bought an absolutely immaculate six month from new 06 SRM M6/17 with 3600 miles just last month (Feb 07) for $24,000 from a 60 year old gentleman who had changed the oil at 500 miles and again at 3500 miles.

Just my .02
I believe that is correct for most states, however, your theory only applies 100% if the vehicle is paid off. Otherwise, the dealer needs to pay part of your lien off, and that residual goes towards the financing on the new vehicle. It's not simply NEW CAR PRICE - YOUR TRADE VALUE = Y ... And then Y x sales tax%. Let me try to explain:

Your car is paid off:
NEW CAR = $30,000
YOUR PAID OFF TRADE = $23,000
YOUR COST = $7,000
TAX = $7,000 x % = Z

Your car IS not paid off:
NEW CAR = $30,000
YOUR UNPAID OFF TRADE VALUE = $23,000
YOUR LIEN = $28,000
YOUR COST AFTER NEGATIVE ADDED TO NEW CAR PRICE = $35,000
TAX = $35,000 x % = Z

The reason this is so is due to the fact your entire trade is debt that is not going toward the price of the new car, rather must be paid by the dealer, plus they take a check from what you added into the financing (your negative) to cover the additional needed to pay your car off and then sell it themselves to get their profit. Nothing is going toward the new vehicle, in fact, you are adding "dead money". Thus, your taxed amount is the full value of the new vehicle plus the negative (thus, you are actually buying the new vehicle for a higher price than what you could, just to cover your old negative).

[All Rise]

Don't necessarily agree. If debt was backed out of the trade-in would that mean if you financed the original purchase you would only pay sales tax on the cash down payment? In Arizona if you don't have a trade you pay tax on the full price. If you trade, any debt on the trade-in is disregarded, it's simply value against value. Maryland and Nebraska could be different though.

[MidlifeGoat]

I believe that is correct for most states, however, your theory only applies 100% if the vehicle is paid off. Otherwise, the dealer needs to pay part of your lien off, and that residual goes towards the financing on the new vehicle. It's not simply NEW CAR PRICE - YOUR TRADE VALUE = Y ... And then Y x sales tax%. Let me try to explain:

Your car is paid off:
NEW CAR = $30,000
YOUR PAID OFF TRADE = $23,000
YOUR COST = $7,000
TAX = $7,000 x % = Z

Your car IS not paid off:
NEW CAR = $30,000
YOUR UNPAID OFF TRADE VALUE = $23,000
YOUR LIEN = $28,000
YOUR COST AFTER NEGATIVE ADDED TO NEW CAR PRICE = $35,000
TAX = $35,000 x % = Z

The reason this is so is due to the fact your entire trade is debt that is not going toward the price of the new car, rather must be paid by the dealer, plus they take a check from what you added into the financing (your negative) to cover the additional needed to pay your car off and then sell it themselves to get their profit. Nothing is going toward the new vehicle, in fact, you are adding "dead money". Thus, your taxed amount is the full value of the new vehicle plus the negative (thus, you are actually buying the new vehicle for a higher price than what you could, just to cover your old negative).

Your second example is incorrect, it should read:
TAX = $35,000 - $23,000 = $12,000 x % = Z
Because you paid tax on the original vehicle you are given a tax "credit" on the amount of the trade-in.

24.5 trade-in value is excellent, I am seeing $23K at the auctions now for an 06. Plus, when you add in the tax benefit it really becomes a $26K trade. Just my .02

[Schleprock]

Your second example is incorrect, it should read:
TAX = $35,000 - $23,000 = $12,000 x % = Z
Because you paid tax on the original vehicle you are given a tax "credit" on the amount of the trade-in.

24.5 trade-in value is excellent, I am seeing $23K at the auctions now for an 06. Plus, when you add in the tax benefit it really becomes a $26K trade. Just my .02
OK, that makes sense then. Good to know.

[poohracing]

do you still have the car? poohracing@hotmail.com

[RazzinGTO]

do you still have the car? poohracing@hotmail.com


You have a PM.

[RazzinGTO]

Just to reiterate on this. I have the funds to cover the hit I am going to take on this. Any one thats interested please let me know.

Thanks,
JR

[brienjustin]

can you please get more pics inside and out to ragugirl2000@aol.com

[RazzinGTO]

Brien - Thanks for the interest but I am happy to report that I have decided to keep the GTO. It'll be a pain in the ars with an infant but at this point the almost 5k hit that I will have to take makes me turn and deal with the issues of driving it with a kid.