Trade In/Car Swap Info - Mercedes-Benz Forum

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post #1 of 3 (permalink) Old 06-21-2010, 11:14 PM Thread Starter
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Trade In/Car Swap Info

Have an interesting situation. A friend wants to buy/take over the payment on my car while at the same time I am looking to buy another car.
MB salesman says that I could "trade" my car to the dealership and they can sell it right back to my friend for the same price minus any dealer fees, while at the same time I would be saving some sales tax from the trade in.

Anyone done any of this in/out transaction before?

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post #2 of 3 (permalink) Old 06-25-2010, 07:53 PM
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Sell the car to him. I believe if you allow him to take over the payments and you are still on the original loan, it could come back to haunt you. Don't destroy a friendship over a potential problem that may pop up in the future.
As far as the dealership handling the transaction, that's fine, as long as they don't extract excessive commissions due to this secondary transaction.
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post #3 of 3 (permalink) Old 06-25-2010, 08:36 PM
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Bad idea to let the friend just take over pmts. Only bad things can happen with this type of arrangement.

Yes, I have done exactly as the dealer suggests - trade in the car, get the tax benefit, and have a friend then buy it from the dealer for just a "small" handling fee. My friend still got a SUPER deal and I saved money on taxes. Not one problem was encountered with this.
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