Colorado Checking In

[svet-am]

My experience with Carmax was VERY disappointing. Definitely a low ball offer - about $5K less than what Rivian offered me - and that was before the tax advantage. But my experience with all the online sellers has been very negative.

Interesting. When my wife bought her Volvo XC40 Recharge last year, Sil-TerHar honored our CarMax estimate on her Outback and it was well above any other offer we saw, including the in-house Volvo vehicle trade-in estimate.

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[PAFDenver]

I guess it's all fairly random then. I saw about a $9K spread on estimates from the various online sites.

 

[BigginsCH]

So far Autonation and Toyota Dealerships are beating Rivian by ~$8k and online options like CarMax, Carvana, etc by $6k+. I have one more appraisal appt tomorrow and then I will post the results after I get a final offer.

 

[COdogman]

So far Autonation and Toyota Dealerships are beating Rivian by ~$8k and online options like CarMax, Carvana, etc by $6k+. I have one more appraisal appt tomorrow and then I will post the results after I get a final offer.

Are those offers for your Tundra?

 

[BigginsCH]

Are those offers for your Tundra?

Yes, for a 2019 Tundra with ~ 30k miles. I should back just about what I originally paid for it minus accessories and a few years worth of gas, tires, and oil changes.

 

[COdogman]

Yes, for a 2019 Tundra with ~ 30k miles. I should back just about what I originally paid for it minus accessories and a few years worth of gas, tires, and oil changes.

Not bad at all! I hope you get at least that for it.

 

[Andystroh]

We drove out and did some of the trails of the alpine loop last weekend, lot of fun. The R1T handled engineer pass no problem. In lake city we charged up higher than we started in ouray just in the time that it took to air up the tires, really did not use as much charge as we expected.

 

[BigginsCH]

If anybody is interested, I got a handful of competitive quotes for a 2019 Toyota Tundra Trade-In and am pleased with the results. I made a little table to figure out if the tax benefits of a direct trade-in with Rivian would outweigh the increased value I could get from a 3rd party. Then answer is that 3rd party is the way to go in this situation.

Now I need to hope my guide answers any of my questions so I can still pickup my new R1T on Saturday. Main question right now is if I sell my Tundra on Saturday morning, can I just sign over the check as part of my down-payment or do I need to convert it to a cashiers check first?

 

[Aardvark]

If anybody is interested, I got a handful of competitive quotes for a 2019 Toyota Tundra Trade-In and am pleased with the results. I made a little table to figure out if the tax benefits of a direct trade-in with Rivian would outweigh the increased value I could get from a 3rd party. Then answer is that 3rd party is the way to go in this situation.

Now I need to hope my guide answers any of my questions so I can still pickup my new R1T on Saturday. Main question right now is if I sell my Tundra on Saturday morning, can I just sign over the check as part of my down-payment or do I need to convert it to a cashiers check first?

@BigginsCH , great chart! I really appreciate you sharing this.
Please excuse my ignorance, but why are the state and local sales taxes different if you use Rivian, rather than any of the others? Is it because with Rivian you are trading in (and not selling) and the trade-in price reduces the sales price basis?
This had not occurred to me before so I appreciate you pointing out that sales tax differences have to be factored into the balance sheet. We will have a CO state sales tax, but living in an unincorporated area, no city or local tax.
Again, thank you for this info.

 

[BigginsCH]

@BigginsCH , great chart! I really appreciate you sharing this.
Please excuse my ignorance, but why are the state and local sales taxes different if you use Rivian, rather than any of the others? Is it because with Rivian you are trading in (and not selling) and the trade-in price reduces the sales price basis?
This had not occurred to me before so I appreciate you pointing out that sales tax differences have to be factored into the balance sheet. We will have a CO state sales tax, but living in an unincorporated area, no city or local tax.
Again, thank you for this info.

You are correct, when you trade in a vehicle directly in most states (not all so check your state if not in Colorado) then you only pay sales taxes on the net vehicle cost. However, if Rivian lowballs you on your trade-in, it may still be beneficial to sell 3rd party and eat the increased taxes with a higher vehicle cost basis - which is what happened in my case to the tune of close to a $6k upside.

One of the questions I have to my guide, is if the sales taxes are indicated at the pickup/drop-off location, or to my home address. For example, are the taxes different if I pick up at the Denver service center, or if they deliver the vehicle to my home in Erie? That is not made clear in the Cost Summary.

 

[Aardvark]

You are correct, when you trade in a vehicle directly in most states (not all so check your state if not in Colorado) then you only pay sales taxes on the net vehicle cost. However, if Rivian lowballs you on your trade-in, it may still be beneficial to sell 3rd party and eat the increased taxes with a higher vehicle cost basis - which is what happened in my case to the tune of close to a $6k upside.

One of the questions I have to my guide, is if the sales taxes are indicated at the pickup/drop-off location, or to my home address. For example, are the taxes different if I pick up at the Denver service center, or if they deliver the vehicle to my home in Erie? That is not made clear in the Cost Summary.

Great questions. When you get an answer would you please post it? It would definitely affect me also.

 

[Bttrylfe]

One of the questions I have to my guide, is if the sales taxes are indicated at the pickup/drop-off location, or to my home address. For example, are the taxes different if I pick up at the Denver service center, or if they deliver the vehicle to my home in Erie? That is not made clear in the Cost Summary.

For me they were calculated according to my home address even though I did a service center pickup.

 

[svet-am]

@BigginsCH - thanks for the great template. What is the "CD Tax Rate" in your table? I'm creating a version of it for my own use.

 

[COdogman]

You are correct, when you trade in a vehicle directly in most states (not all so check your state if not in Colorado) then you only pay sales taxes on the net vehicle cost. However, if Rivian lowballs you on your trade-in, it may still be beneficial to sell 3rd party and eat the increased taxes with a higher vehicle cost basis - which is what happened in my case to the tune of close to a $6k upside.

One of the questions I have to my guide, is if the sales taxes are indicated at the pickup/drop-off location, or to my home address. For example, are the taxes different if I pick up at the Denver service center, or if they deliver the vehicle to my home in Erie? That is not made clear in the Cost Summary.

I was always told the sales tax was based on your home address, or I’ve known people who used another address, like a small business address if it was in a place with a lower tax rate.

 

[twinprice]

If anybody is interested, I got a handful of competitive quotes for a 2019 Toyota Tundra Trade-In and am pleased with the results. I made a little table to figure out if the tax benefits of a direct trade-in with Rivian would outweigh the increased value I could get from a 3rd party. Then answer is that 3rd party is the way to go in this situation.

Now I need to hope my guide answers any of my questions so I can still pickup my new R1T on Saturday. Main question right now is if I sell my Tundra on Saturday morning, can I just sign over the check as part of my down-payment or do I need to convert it to a cashiers check first?

Wow, Carvana’s lowball offer is ridiculous!

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