I'm totally aware of all that.... But we are not allowed to talk politics here, so plz don't get me started..... Let's go.... Uh.... Elsewhere
not exactly. we're past due by several years (using historical record) for a major stock market crash and recession. Could easily LOSE that $16k or a good chunk of it anyways instead of earning anything. Not everybody qualifies for a low interest loan and there's no reason to finance any of it if you have cash on hand to pay in full. Some people around here i suppose aren't old enough to remember what a crash looks like, so go review DOT Com bubble burst 2000/2001 and Housing/Mortgage crash 2008. This recovery growth period we are in since 2009 along with flat inflation and easy money policy have really skewed percption of how our economy has normally performed over time. That crash WILL come, just a matter of when.
but he gets to drive the fully paid for Maverick with no stress regardless of stock market performance, interest rates, or inflation. that's worth it's weight in Gold to some of us!
Can't speak for Carmax but my sale to Carvana for $16,523 resulted in no 1099 or any other IRS reporting or form.
yes the used car values have sky rocketed... I won't reiterate what I got for my 2016 Audi Q5 with 52K miles on it - sold it private party... or the 2016 Mazda CX5 with 78k miles... both were well worth the sell off! I gained enough to pay for one of the 2 First Editions trims I am purchasing - IF THE ARE EVER BUILT!! Or if available, I will take full advantage of Ford's lowest interest rate - hoping that the 0% offer will still be available at the time I purchase!So we took my GF's 2016 Kia Soul to Car Max yesterday (after I spent about 6 hrs of detailing on it) and holy $#!# !
I mean yes, it only had 29K miles on it, was in excellent condition inside and out.... but still, it was more than 4 yrs old.... and you know the whole thing about cars losing 15% the day you drive them off the lot ?
Well, with that in mind, I told my GF she needed to come up with a number she was willing to settle for, because as I told her, at Car Max, their is no haggling. If you like the price they offer, you take it. If you don't you take the car and leave.... and they won't chase you. So she had decided on $14K as her lowest number. Oh, btw, I forgot to say, she paid $18,900 for it four years ago.
So we talk to a gentleman for about 5 minutes, to give him her basic info, and he says, okay, have a seat and we will be back with a quote in about 30 minutes.
Thirty minutes later, the guy walks back over smiling, hands her a sheet of paper, and asks, what do you think ? $16,000 ! Are you freaking kidding me ? She drove that thing for 4 years, and only lost $2,900 ??? Whoo hoo
So in a few days when she gets her bill, she's dumping all $16K on it. That, plus the $5K she put down on it, and she will only be a few thousand away from owning it. We might try to scape a few more pennies together, to just make that happen right now
LOVING the truck BTW.... as the mileage steadily climbs.. 37.3 now... then it dawned on me that I have not even checked the tire pressure. I might bump those up a few lbs too... Plus, I'm wondering if the bedcover might add 1 mpg ? Putting that on this week
Anybody else score big on the vehicle they sold to get their new Maverick ???
Invest your money and you might lose it. Fair.
Congrats!! so... you're either a CPA or an engineer??
I am questioning this... could a tax expert chime in?
Most (all?) DMVs limit the number of cars a private party can sell in a calendar year. I know that the limit in California is 6, but it can vary. Arizona requires private party auto sales to be notarized. This is the main reason that questionable flippers never register the cars in their own name.
My last car was a 2007 Ford Focus with over 150K miles so I only got a few thousand for it. Back in 2009 I bought the Focus for half off for $6900 because it had hail damage; so I got half my money back after 12+ years.So we took my GF's 2016 Kia Soul to Car Max yesterday (after I spent about 6 hrs of detailing on it) and holy $#!# !
I mean yes, it only had 29K miles on it, was in excellent condition inside and out.... but still, it was more than 4 yrs old.... and you know the whole thing about cars losing 15% the day you drive them off the lot ?
Well, with that in mind, I told my GF she needed to come up with a number she was willing to settle for, because as I told her, at Car Max, their is no haggling. If you like the price they offer, you take it. If you don't you take the car and leave.... and they won't chase you. So she had decided on $14K as her lowest number. Oh, btw, I forgot to say, she paid $18,900 for it four years ago.
So we talk to a gentleman for about 5 minutes, to give him her basic info, and he says, okay, have a seat and we will be back with a quote in about 30 minutes.
Thirty minutes later, the guy walks back over smiling, hands her a sheet of paper, and asks, what do you think ? $16,000 ! Are you freaking kidding me ? She drove that thing for 4 years, and only lost $2,900 ??? Whoo hoo
So in a few days when she gets her bill, she's dumping all $16K on it. That, plus the $5K she put down on it, and she will only be a few thousand away from owning it. We might try to scape a few more pennies together, to just make that happen right now
LOVING the truck BTW.... as the mileage steadily climbs.. 37.3 now... then it dawned on me that I have not even checked the tire pressure. I might bump those up a few lbs too... Plus, I'm wondering if the bedcover might add 1 mpg ? Putting that on this week
Anybody else score big on the vehicle they sold to get their new Maverick ???
Retired engineer
