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

[MLowe05]

I auctioned an XL EB ($22,575 MSRP that I paid) to a Chevy dealership for $34,500 in May. They sold it for $38,000 shortly after.

Insane.

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[Hanto]

The Maverick market is certainly wild. I ordered a couple at different dealerships. They came in and I was originally just going to keep the first one in and let the other go...

Then when I was offered almost 10k more than I would buy them for by a wholesaler. I was dumbfounded. I went and head and took delivery of them both about a month apart and sold them within about two weeks. Paid off all my credit card debt I accumulated several years back and what a great feeling that is.

I love the truck and intend to get a 23 to keep. The money was too good to pass up in my situation. Your local dude selling that one might be in a similar situation or just wanting to get an easy buck, and that's their prerogative. I hope you get yours soon!

 

[Timothyd]

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.

Ya know, the way the market a d the world is now everything could turn around and you'd be underwater with the price next year.

 

[Finnster]

I fully plan to keep my 2023, assuming I get it ordered and delivered! But if someone flashes an extra 12K in my face, all bets are off!
I just sold my 2019 Dodge Grand Caravan ($5K profit), in order to afford the Mavrick Hybrid!
I'm not in it to make a buck, but I also might not step over it, if it's laying at my feet!

 

[Johnkn]

I auctioned an XL EB ($22,575 MSRP that I paid) to a Chevy dealership for $34,500 in May. They sold it for $38,000 shortly after.

Insane.

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


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[MaverickGal]

In Canada we are signing a contract with Ford, before taking possession of the new Maverick, that we WON’T flip it…..especially not across the border. Go figure…

 

[Maverickman74]

His to do with as he pleases. This is not just him, it's everyone.

Everyone is wrong and mobs are stupid. Everything is every ones fault. I blame yallselves.

 

[22Ford XL Basic]

Ford (Jim Farley, Jim Azzouz, Elena Ford and Frederiek Toney) are well aware that their dealers with less integrity and honesty are conniving individuals out of their personal Maverick orders in order to make huge profits.

 

[MLowe05]

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

I don’t know if I consider taxes “fun” but even after accounting for all taxes/fees, I still clear ~$8,000 profit. I have never understood the comments about capital gains taxes - are you implying that because it is $8,000 and not $12,000 that it wasn’t worth selling? Would you turn down a salary increase because it was extra taxes?

I didn’t think so.

 

[vabchusa]

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.

 

[DeeZee]

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


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These comments crack me up. “Hey don’t sell something for a profit because you will need to pay tax”

 

[stoptothink]

I don’t know if I consider taxes “fun” but even after accounting for all taxes/fees, I still clear ~$8,000 profit. I have never understood the comments about capital gains taxes - are you implying that because it is $8,000 and not $12,000 that it wasn’t worth selling? Would you turn down a salary increase because it was extra taxes?

I didn’t think so.

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

 

[Johnkn]

I don’t know if I consider taxes “fun” but even after accounting for all taxes/fees, I still clear ~$8,000 profit. I have never understood the comments about capital gains taxes - are you implying that because it is $8,000 and not $12,000 that it wasn’t worth selling? Would you turn down a salary increase because it was extra taxes?

I didn’t think so.

I'm not implying anything. The comment is a reminder to others as most here don't understand the U.S. tax implications. We frequently see people on this Forum talking about selling and making a few $k off the top w/o regard to the actual net profit after tax. In a case where there's a net benefit of ~$8k, sure, but the net gain is not simply the sale price minus the purchase price....

It's a sobering event writing a check for the CG tax when you buy a car for $50k then sell 20 years later for $460k.....


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[Milton Jeff]

Interesting discussion re capital gains. It appears that it is different in the US than here in Canada. Checking with my tax guy friend on this issue even though I have no intention of selling, he tells me it is similar to your primary residence, there is no capital gains to pay if it is your primary vehicle. Now if you were buying 2 or 3 from different dealers and flipping, then different argument. Is it different south of the 42nd parallel?

 

[Old Ranchero]

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


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Capital Gains tax on a Private Party sale? Sounds odd. I've bought and sold lots of my personal vehicles over many decades and never encountered this. I know when I lived in CA you needed to get a dealer's license if you sold more than 4 per year, but never heard of a capital gains issue.

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