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

[James D]

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........

Will, please no guilt, it is not greedy to sell a vehicle people do this all the time. That means Carmax, Carvana, and your own dealer who takes trade-ins are all greedy whenever they re-sell your car to someone else for a profit.

Sponsored

 

[wayzatalawstar]

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?

No, you would have short term capital gains (ordinary income) on the gain on the first three sold (sale price less basis, basis being the amount you paid for the first three). There is no free lunch under the US tax code.

 

[stoptothink]

It should feel cheap. it is CHEAP.

It's the cheapest truck and cheapest hybrid on the market, period. It was built to a pricepoint; I have no idea why this surprises anybody. Considering what we paid and this being our first Ford, I was actually surprised at the build quality, and you can't beat the price or 49mpg+ (what we are getting). If I was looking to spend $30k+, almost no chance I am even considering a Maverick.

 

[BingoDingo]

Some folks on this thread are commenting that it’s a free market, and more power to him if he can flip it and make some money, but I think the OP is pointing out the sheer greed of such a move. I agree. It’s greedy.

If somebody offered you $50 for your ham sandwich, that you made for less than $1, and you took it does that make you greedy?

 

[Pacman]

If somebody offered you $50 for your ham sandwich, that you made for less than $1, and you took it does that make you greedy?

If somebody needed my sandwich that bad, I’d give it to them for free.

 

[BingoDingo]

If somebody needed my sandwich that bad, I’d give it to them for free.

Ok. I really need your Maverick!

 

[stoptothink]

If somebody needed my sandwich that bad, I’d give it to them for free.

They "need" your $1 sandwich although they have $50 in their pocket? Some "interesting" logic you've exhibited in this thread.

 

[Midwest Jim]

If somebody offered you $50 for your ham sandwich, that you made for less than $1, and you took it does that make you greedy?

What kind of ham? How thin is it sliced? Is there aged cheddar on it? Is it on a brioche bun? Does it have horseradish on it? I always gather the facts before I make a big decision.

 

[gte105u]

They "need" your $1 sandwich although they have $50 in their pocket? Some "interesting" logic you've exhibited in this thread.

I'll gladly pay you Tuesday for a hamburger today

 

[Bobinmi]

Supply and Demand! simple capitalism.

 

[DeeZee]

What kind of ham? How thin is it sliced? Is there aged cheddar on it? Is it on a brioche bun? Does it have horseradish on it? I always gather the facts before I make a big decision.

Pa’llleeessse

Mustard?

Always add Mustard

 

[AutobahnSHO]

Will, please no guilt, it is not greedy to sell a vehicle people do this all the time. That means Carmax, Carvana, and your own dealer who takes trade-ins are all greedy whenever they re-sell your car to someone else for a profit.

Greed is what drives our economy- and if no one was greedy for anything, no one would work and we'd all starve.

I have no issues at all with people buying and selling stuff. It's "SCALPING" I hate.

Dealerships serve a purpose- delivering vehicles and servicing them. Private parties who buy and drive a vehicle and decide they don't like it and want to sell? Fine by me. Carmax does well because people like to see a price, test drive, and buy a car without all the shenanigans. The fact that Mavs are $10k over-priced there is just the market, if people didn't buy them at that price, they wouldn't be able to sell them for that price. So I blame customers there..

Someone who buys hard-to-get trucks just to flip them to make a profit? They're not adding any value to the economy at large- hurting customers and dealers, for only their own profit. I realize it's usually legal (unless they are breaking dealer laws) and not really "that immoral".

 

[Maverstang]

If somebody offered you $50 for your ham sandwich, that you made for less than $1, and you took it does that make you greedy?

Don’t forget to pay capital gains tax on the $49 profit!

 

[IronHammer]

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 once had a discussion with a family member who didn't want to make more money because they would have to pay more taxes. It took some explaining to get that person to realize the stupidity of that line of thinking.

 

[WasChops]

I'll gladly pay you Tuesday for a hamburger today

Quote from Popeye - classic!

Sponsored