My journey to Raptor R ownership

[CoronaRaptor]

I found a dealer to essentially purchase my truck from me. I have a contract with them where I can leave my cash with the dealer and use it as "trade" towards a new vehicle. If I chose I can go pick up my cash at anytime. The benefit of trading vs selling it is I can get 28,200.00 cash or essentially 30,000.00 towards a trade since MN only has you pay the sales tax on the difference.


I can just take my cash back from the dealer or just get two Raptor R's lol

Aaahh, as long as it’s written done, that’s awesome!

 

[fftfk]

I found a dealer to essentially purchase my truck from me. I have a contract with them where I can leave my cash with the dealer and use it as "trade" towards a new vehicle. If I chose I can go pick up my cash at anytime. The benefit of trading vs selling it is I can get 28,200.00 cash or essentially 30,000.00 towards a trade since MN only has you pay the sales tax on the difference.


I can just take my cash back from the dealer or just get two Raptor R's lol

Is there any time limit to the trade in tax credit? I think you have to buy another vehicle within 45 days in IL to claim the credit.

Edit - here are links to the IL Tax Credit for vehicle trade ins. Good news is that pickup trucks are Division 2 vehicles so you still get the full credit:

https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-01.pdf

https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-01.pdf

 

[krww06]

I'm debating on getting in line and putting a deposit down on the "R" as well. I will definitely get the dealer to sign something though if I do, as when you are raised by a lawyer it's second nature for me to get everything in writing. Good luck to the OP and keep us posted.

 

[Jake226]

Is there any time limit to the trade in tax credit? I think you have to buy another vehicle within 45 days in IL to claim the credit.

Edit - not 100% sure on that time deadline.

When I traded my 2019 Raptor in and ordered a Gen 3 they told me I had up to 1 year to use the sale of that vehicle to them as “trade value”. I just inquired with them as to an R as well….no news yet.

this was in Indiana.

 

[nealhoney]

Is there any time limit to the trade in tax credit? I think you have to buy another vehicle within 45 days in IL to claim the credit.

Edit - here are links to the IL Tax Credit for vehicle trade ins. Good news is that pickup trucks are Division 2 vehicles so you still get the full credit:

https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-01.pdf

https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-01.pdf

I definitely need to look into this! Thank you for the heads up!

 

[nealhoney]

I'm debating on getting in line and putting a deposit down on the "R" as well. I will definitely get the dealer to sign something though if I do, as when you are raised by a lawyer it's second nature for me to get everything in writing. Good luck to the OP and keep us posted.

Ive been having a hell of a time getting the two dealers I'm working with to actually sign something. If you have any luck please let me know!

 

[nealhoney]

When I traded my 2019 Raptor in and ordered a Gen 3 they told me I had up to 1 year to use the sale of that vehicle to them as “trade value”. I just inquired with them as to an R as well….no news yet.

this was in Indiana.

Good to know, I'll have to look into the rules in MN.

 

[fftfk]

I definitely need to look into this! Thank you for the heads up!

I traded my Raptor in on Thursday (the trade in values are just too good not IMO). I went to two dealers trying to get the deal done. In both cases the dealers first offer did not include the tax credit. I had to push back and tell them about division one and two vehicles. In one case I actually texted the guy both those links. Both dealers came back after their research and agreed I was correct. I did not pay any taxes on my new car.

My guess is that only dealers that deal with a lot of fleet pickup truck sales would probably be familiar with the difference between division 1 and 2 off the top of their heads.

 

[Stroked out]

I came here trying to find a good place to sell a kidney. I must have missed read the title or something, idk . Anyway good luck on your journey and keep me posted on the kidney thing

 

[MDJAK]

700 hp? Is that all? I was hoping for 7,000.

A truck that doesn't exist, hasn't been announced. Good luck.