Just got an offer from Carvanna

[MaverickHopefulOwner]

Apparently the market is still there. They want $40k for Lariat. v$43,500+ if you want it shipped somewhere.

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[KrayzieMav]

Almost $5000 above MSRP. Good to know the value is still there.

weird they offered you more for your XLT than my Lariat Tremor with 1100 miles

 

[Bigred]

weird they offered you more for your XLT than my Lariat Tremor with 1100 miles

Their first offer was $31,000. I ignored it and a week later got this one. I don’t know why.

 

[KrayzieMav]

Their first offer was $31,000. I ignored it and a week later got this one. I don’t know why.

I don't want to sell whatsoever, was just seeing the offers for fun, but mine has an MSRP just under $41k with very low miles, and they offered me $334XX. No subsequent offers. It's like they're just throwing rando offers out there to see what sticks

Vroom only offered me $32,000

 

[Old Hickory Trojan]

Almost $5000 above MSRP. Good to know the value is still there.

sold my 2023 Hybrid XL with tow and Co Pilot to Carvana for $32870,.00 or about $8500 over what I paid out the door...they paid me exactly what they quoted me..

 

[RR - All the way]

[QUOTE="CG
Go Gamecocks!! (just like Coach Beamer)


I'm down here in Augusta. Just got mine in July (after 23 months) and am happy. But, I say Go, DAWGS!

Wow, 23 months?? Congrats on getting it. I understand Ford considers DAWG fans to be a constrained item because they are hard to find near Detroit and/or Hermosillo.

 

[James K]

It's the only vehicle which 50% of people buy, with zero intention of driving it. The resale special. A model kept alive because half of the population who wants one to drive can't get one due to the flippers.

I wonder how many people actually flip Mavericks. I suspect some do but keep in mind the tax issue. This case has almost $1700 in sales tax that drops profit to $3300. Then there is a capitol gains tax that I'd pay rather than worrying about it coming out later with huge penalties and interest. At the end of the day, profit really isn't much unless you're doing several flips.

 

[40caliber]

I wonder how many people actually flip Mavericks. I suspect some do but keep in mind the tax issue. This case has almost $1700 in sales tax that drops profit to $3300. Then there is a capitol gains tax that I'd pay rather than worrying about it coming out later with huge penalties and interest. At the end of the day, profit really isn't much unless you're doing several flips.

Never pd capital gains on sale of a car. Or even heard of it.

 

[LSchicago]

I wonder how many people actually flip Mavericks. I suspect some do but keep in mind the tax issue. This case has almost $1700 in sales tax that drops profit to $3300. Then there is a capitol gains tax that I'd pay rather than worrying about it coming out later with huge penalties and interest. At the end of the day, profit really isn't much unless you're doing several flips.

Yet many people have flipped multiples. One guy said he made so much flipping that his was free. Personally, I just want to keep mine. Unless it sucks.

 

[James K]

Never pd capital gains on sale of a car. Or even heard of it.

You're probably right since it's such short term. I've paid Capitol gains when a few of us bought a high end car and sold it 18 months later but we actually formed a LLC since there were several of us at varying invested amounts.

 

[KrayzieMav]

Yet many people have flipped multiples. One guy said he made so much flipping that his was free. Personally, I just want to keep mine. Unless it sucks.

people say a lot of things. I “flipped” my ‘21 Corvette for $20k over and after all fees and taxes, i barely made anything after all was said and done—and that was on $88,000. If people are truly flipping these, they aren’t actually making much unless they just have the perfect set of circumstances. Most dont even take into account all the fees they truly pay (depending on location—sales tax twice, registration twice, interest, new rates and new car prices for the newer model, doc fees, shipping fees, etc). What does happen is they drive it for like a year and break even and get a free rental for a year, which isn’t that bad as long as you have another car to get into that makes financial sense.

But people claiming they’re just walking away with all this cold hard cash are usually just full of it and could have made considerably more just putting the $20-$30k into QQQ or SPY in actuality.

 

[Johnkn]

Never pd capital gains on sale of a car. Or even heard of it.

That topic is revisited weekly here, from a recent post:.

**********
1) I don't care if anyone mis-represents their Federal or State tax returns, it's not my problem to police. If they choose to and are caught they win the prize of dealing with the consequences and the audit(s) that can touch additional tax years. When someone signs their return they are 'Declaring under penalties of perjury that the return is true and correct'.


B) The Federal Income Tax Return, Form 1040, under #7 "Income" on page 1 requires reporting Capital gain.

Federally, short term Capital Gain (property sold in less than a year) is generally taxed like regular income and subject to up to 37% tax (or whatever your rate is).

Federally, long term Capital Gain (property held for more than a year and sold) is generally subject to up to a ~20% tax (based on your tax bracket.

Additional State Capital Gain tax varies by state

I'm not a tax expert....
.
***************

.

 

[40caliber]

That topic is revisited weekly here, from a recent post:.

**********
1) I don't care if anyone mis-represents their Federal or State tax returns, it's not my problem to police. If they choose to and are caught they win the prize of dealing with the consequences and the audit(s) that can touch additional tax years. When someone signs their return they are 'Declaring under penalties of perjury that the return is true and correct'.


B) The Federal Income Tax Return, Form 1040, under #7 "Income" on page 1 requires reporting Capital gain.

Federally, short term Capital Gain (property sold in less than a year) is generally taxed like regular income and subject to up to 37% tax (or whatever your rate is).

Federally, long term Capital Gain (property held for more than a year and sold) is generally subject to up to a ~20% tax (based on your tax bracket.

Additional State Capital Gain tax varies by state

I'm not a tax expert....
.
***************

.

Haha

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