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Trading my 2022 GMC HD (gas) for a new 2021 Gladiator Rubicon

dcmdon

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Exactly. In Illinois (and I’ve double checked this), you get the full tax benefit if you trade a truck for a truck. So, I’d be on the plus side with this trade because I’d be going through I dealer.
I've never thought about this (and I was a finance manager at a car dealer for a couple of years a long time ago), what happens if your trade is worth more than the car you are buying.

Do you get the tax benefit on the whole value of the trade. In effecti getting a tax refund?
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willgabriel

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I've never thought about this (and I was a finance manager at a car dealer for a couple of years a long time ago), what happens if your trade is worth more than the car you are buying.

Do you get the tax benefit on the whole value of the trade. In effecti getting a tax refund?
My limited past experience is the clerk gives you a refund OR offers to apply it as a credit to the next tax due bill.
 

dcmdon

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My limited past experience is the clerk gives you a refund OR offers to apply it as a credit to the next tax due bill.
Either way congratulations on your success working the system. Normally on a car forum when someone talks about owning 4 cars in 3 years I cringe at the absolute stupidity they are demonstrating.

But with today's insane market I may need to rethink my norm MO of running cars for 10 years if my Gladiator turns out to be worth what I paid in 12 months.
 
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willgabriel

willgabriel

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Either way congratulations on your success working the system. Normally on a car forum when someone talks about owning 4 cars in 3 years I cringe at the absolute stupidity they are demonstrating.

But with today's insane market I may need to rethink my norm MO of running cars for 10 years if my Gladiator turns out to be worth what I paid in 12 months.
Definitely an unusual car market the last two years. In any other market, trading that often is a really poor financial decision.
 

ranger5oh

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I went from a 2016 F-150 Platinum to a 2021 JT Mojave and could not be happier. There are very few times that I miss the space of the full size truck, and the JT is way more fun to drive. It also fits better in my garage and way easier to park.

If you need the space of the full size truck, keep it. But if you only need it once in a blue moon, then sell it and get the JT, its just about the most fun you can have in a pickup.
 

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I say go for it. If it ends up the JT does not suit you as a dd, you can always get something else.
 

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I haven't looked at truck values recently because I traded for my JTUR about 6 months ago, but the numbers sound decent. You've got a highly-valued and sought after truck to trade.

If you're finding higher trade values for your truck online, I would definitely present those to the dealer to see if they would come up a little. I traded right before the market went nuts, and my dealer wanted my heavily-modded '18 Wrangler JLUR so badly on trade that they gave me quite a few extras. I traded for a new '20 Gladiator Rubicon they had marked $6K off sticker since it was the last '20 on the lot. They gave me almost what I paid new for my Wrangler, so the numbers were almost even. My payment actually went down, and I was also able to keep my 12K lb winch without any reduction in their trade offer. I don't need or want a full size truck any more, and this Gladiator checks all the "need" and "fun" boxes on my list. Good luck on the trade.
 

Cripton805

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I just sold my commuter 19' VW Jetta for $3500 more than what I paid new. It was a leftover I bought in 2020. I had a ton of positive equity because I almost paid it off in a year. So, I got a 13K+ check in the mail.

I'm commuting in the Gladiator for now and I will probably get a beater until the market cools.

I have over 10k+ equity in my Gladiator. I'm tempted to sell that and my motorcycle. I also have a good chunk of savings aside from that. +Putting in a bunch of OT at work.

If the market crashes. I will be ready to heavily invest in assets vs. expenses.
I can always rebuy the cars at any time.

It's a perfect storm for me financially. (In a good way)
 

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willgabriel

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Thanks everyone for the helpful input. The CDJR dealer is about 3.5 hrs away. I had another matching offer of $71.5 for my GMC AT4 HD from a local GMC dealer on a used 2021 Gladiator Mojave in Sarge Green with 5,800 miles. It has cloth seats and no cold weather package with the truck bed showing some wear. It’s also $4k less than the new 2021 Gladiator Rubicon with the leather and cold weather packages ($57k-$61k). I prefer the Rubicon. The dealer with it has thrown in free delivery to my door and picking up my GMC trade in to close the deal ($400 value).
 

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Fouts

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Bought my new 21 Mojave 3 months ago, all options less led MSRP 56,300. Paid $53,250. Not sure why you would pay over msrp for used. Some think you are getting a great trade but one of the ways they can do that is by overcharging for purchase.
 
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willgabriel

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Bought my new 21 Mojave 3 months ago, all options less led MSRP 56,300. Paid $53,250. Not sure why you would pay over msrp for used. Some think you are getting a great trade but one of the ways they can do that is by overcharging for purchase.
I’m not sure what the original MSRP of the used Mojave would be. With no leather or cold weather packages (it does have the safety assist and adaptive cruise package), I think you’re right, it couldn’t have had an MSRP of above $56k. The new Rubicon has an actual MSRP of $63,700. It’s a better deal and I like it better, esp with the free delivery thrown in.
 
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willgabriel

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willgabriel

willgabriel

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