You’ve found the Mazda you want: now the question is, what do you do with your old car? You could sell it, but at your Mazda dealership, we want to tell you about some trade-in benefits of bringing your old vehicle to us.
3 Trade-In Benefits at Your Mazda Dealership
You Save Money
You could keep your old car, but as time passes, its maintenance needs will increase and costs will rise. After about eight years, more complex and expensive components and systems will need replacement. In addition, rust and other issues become more likely to develop on an older vehicle, increasing maintenance costs even further.
Your original vehicle will still need to be insured and registered if you plan to drive it in Florida. You can apply to the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) to declare it a non-operational vehicle and save on registration charges, but you won’t be able to drive it. Trading your old vehicle in saves you headaches with paperwork and unnecessary costs.
You Pay Less Tax
When you buy a vehicle in Florida, you pay a 6% tax on its value. This means you have to save more if you want to pay cash for your new car, or add the cost of this tax into the loan amount if you plan to finance it. Trading in your old vehicle reduces this tax burden, and we’re going to show you how below.
When you trade in a vehicle, the value of your trade is subtracted from the price of your new car. If your trade is relatively new and in good condition, its trade value can be very high, giving you a significant price reduction. You then pay 6% tax on the remaining balance you need to pay for your new car.
It’s Hassle-Free
Trading in your old vehicle couldn’t be simpler. You can value your trade on our website by entering its VIN, license plate, or make, model, and year information. Within minutes, you’ll receive an offer. You then bring it to us, and we’ll examine your vehicle and confirm its value. You can apply this value to reduce the cost of your new car. We’ll handle all the paperwork, all you’ll need to do is sign the transfer of title.
Contrast the ease of a trade-in with the effort required to sell your old vehicle. You would need to advertise, and you may need to pay for any outstanding servicing requirements or repair minor dents or dings. After this cost and effort, you will still have to wait for a buyer. In the end, you might not receive the price you want.
These are just a few of the reasons why trading your vehicle is a great option. Contact us today at John Lee Mazda in Panama City, FL.
Connect with us
