Quote:
Originally Posted by CincyJohn
So you gave the dealer your car as a down payment/deposit?
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This sounds silly at first, but This way the dealer is able to process it as a true trade in and OP will save the taxes on the trade in value.
If they simply sold the vehicle to the dealer and OP took the equity in cash while waiting for the vehicle, then use the cash as a downpayment, they would not get the tax benefit.