Buy 'em, flip 'em, make $$$$

[MLowe05]

My paperwork here in Wisconsin that I had to sign stated I wouldn't sell/flip it for 6 months, no problem for me

Is this a deal between you and the dealer? Have not heard of this (regarding the Maverick) in the USA.

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[Skeeter163]

Checked Zoom.com today and they have them about 5 k over.

 

[Peps]

if i buy 4 mavs and sell 3 to pay for the 4th wont the balance sheet be even and i wouldnt pay any capital gains?

I never heard of such requirement in place here in USA. i thought was not legally enforceable.

 

[Johnkn]

I never heard of such requirement in place here in USA. i thought was not legally enforceable.

Huh? What requirement?

.

 

[pigsareus]

yep

Where did you get that info? My dad totaled his 2021 Kia Forte GT in March. He paid $24,500 for it in April 2021. Insurance paid him $28,000 in the settlement.

Insurance pays you a value they calculate based on what they call "comps" - as in comparable vehicles for sale in your area. In that case, you'd be looking at way over MSRP everywhere.

yep - that's likely how they determine your insurance rate for the year, putting in the actual value at time of issuance, not the price you paid.

 

[pigsareus]

speculation

what was the point of even buying them in the 1st place?

Market speculation - there are people out there who realized that with a $100 deposit and a long time horizon that they could eventually leverage that 100 bucks into thousands of dollars of profit. It does require some work but the risk was minimal.

 

[pigsareus]

I've actually had more than one person try to turn down a promotion/pay raise because it would bump them up into the next tax bracket. Education of basic economics and personal finance is sorely lacking in this country.

Man does it suck selling my wife's vested RSUs every November; cause, taxes and such

yeah and likely they didn't realize that it's just the money in the next tiered bracket that is taxed at the next highest level - not their entire income. I bet the HR department is still laughing..and questioning their lack of mathematics and basic tax information.

 

[Suzukiridr14]

The other day I was talking with a group of guys and telling them about the First Edition Rapid Red Maverick I was waiting to get built. OTD price with taxes, fees and everything is $35,400 and was given an offer of $60,000 when it comes in. Guy said he would put it in writing and get it notarized.

Don't let him get away! You will become the guy to beat with the largest flip so far.

 

[Top_Gun]

The appreciation for the Maverick is due to limited supply and super high demand. This will correct itself as more are built and supply increases. And used/new supply is skyrocketing because people are making such huge profit margins off of them.

I ordered my Maverick XLT Hybrid about a year ago and just picked up three days ago. After an extended test drive, I've realized that it's a cool concept with questionable Ford build quality. The interior is comfortable but cheap looking/feeling. The brakes on the hybrid are really weird, causing me to slam on them when inching forward with varying pedal sensitivity. Unlocking the doors with the fob makes the doors unlock and lock about 6 times, sometimes, which feels glitchy. All of my friends with new Fords are constantly having recall issues, bringing it to the dealer constantly to work out bugs. I want something more reliable than that. Not to mention that I got a quote from Carmax for $7k over what I paid out the door.

I put in my order, waited for the arrival, drove it, and decided it wasn't for me. I honestly love the concept, but it's just shotty execution. Although, what should I expect from a truck that MSRP's at $20k? I'll take my profit and put it away for something else that blows my current vehicle out of the water.

 

[AutobahnSHO]

My $.02=

1- It's greedy yet totally legal to purposefully buy to flip a truck or two. Skirting the laws doing it repeatedly is illegal, should get a dealer license.

2- Look at "used" Mavericks on Carmax. insane.

3- I looked at KBB value for the 2012 Odyssey we bought in early 2019. It's now what we paid then, even with more miles and 25k more miles.

4- Capital gains is only a part of your overall yearly tax picture. Depends on which bracket you're in, other deductions, etc.... And I keep seeing on Facebook "The IRS hired 87,000 new tax auditors". They're going to need some work to do soon........

 

[LSchicago]

Everyone has their own threshold for what they would pay over MSRP or KBB. No one is forcing anyone to buy a truck they think is too high priced. I wouldn't pay an additional dealer mark up but I might pay above KBB for a pristine used car, especially if there were supply issues. What if someone stopped you and offered $15k over sticker? How about $20k? The beauty of a free market is you can participate, or not.

My threshold is MSRP. Never paid over MSRP, and only paid that once.

 

[gte105u]

People mention that the interior feels cheap. But having driven multiple trucks in this bracket, it's on par. I don't see the Maverick as any lower than a Tacoma, Frontier, (current) Colorado, lower tier F150, etc. It feels like a modestly priced truck inside. It's cheaper inside than Santa Cruz and Ridgeline, but they weren't trying to be trucks really. And it's not on par with a F150 Platinum or the new Canyon... But it's also gobs less money too.

Maverick is trying to be a small, reasonably priced truck and the interior matches that...

 

[LSchicago]

People mention that the interior feels cheap. But having driven multiple trucks in this bracket, it's on par. I don't see the Maverick as any lower than a Tacoma, Frontier, (current) Colorado, lower tier F150, etc. It feels like a modestly priced truck inside. It's cheaper inside than Santa Cruz and Ridgeline, but they weren't trying to be trucks really. And it's not on par with a F150 Platinum or the new Canyon... But it's also gobs less money too.

Maverick is trying to be a small, reasonably priced truck and the interior matches that...

It should feel cheap. it is CHEAP.

 

[BoskoPColtrane]

I'd heard about this but didn't realize it was going on in my own backyard. Here is a Cactus Gray XLT hybrid for sale on Facebook Marketplace with 3400 miles. It's exactly what I'm looking for except the guy feels it's okay to mark up a used vehicle a good $10,000 over what he probably paid for it. I'm sure getting tired of waiting for mine but I'm not going to pay that kind of premium for a used vehicle. I'll keep waiting thanks.

That’s probably more than a $10,000 mark-up. I ordered an XLT hybrid with Lux package, moonroof, rear sliding window at $27,250.

 

[CSSMAVO]

Fun paying capital gain tax on that $11,925 next Spring.


.

Even with the capital gains, taxes and registration, he's still ahead. If anyone hasn't considered the capital gains tax, they are idiots.

speculation

Market speculation - there are people out there who realized that with a $100 deposit and a long time horizon that they could eventually leverage that 100 bucks into thousands of dollars of profit. It does require some work but the risk was minimal.

Yeah, I am one of them, and my dealer didn't even charge a deposit to build one. Sold my Bronco Black Diamond in April and my Maverick, this morning. The Bronco I made out like a bandit, the Maverick I broke even, with taxes, tags and the estimated capital gains.

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