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My Carvana Offer
- Thread starter ValenciaOrange
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Remember that (in the U.S.) you will pay short term capital gains tax ( Federal and perhaps state) on any 'profit'.
The basis is the original vehicle sale price (before tax, tags, etc.) and the final sale price.
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The basis is the original vehicle sale price (before tax, tags, etc.) and the final sale price.
.
You would have to ask your tax professional exactly how to report it. Car sales always go through the .gov for registration and IIRC there are banking rules for how much money you can withdraw or deposit before they have to report it to the IRS. Regardless, if you don't report it and they find out you will be in for a world of trouble.
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OP
OP
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- Howard
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Interesting
My new Carvana quote. I said I did not have a tonneau cover, or upgraded wheels. Now my quote is higher.
My new Carvana quote. I said I did not have a tonneau cover, or upgraded wheels. Now my quote is higher.
So, I have accepted Carvana's offer on my 2022 Maverick XL EB FWD - zero options, $22,575 MSRP. I originally ordered it for my dad, but he ended up needing a car quicker than the Maverick arrived and I ended up with a Maverick I did not need. I have driven it 1800 miles in a month and it is a fantastic truck, but not the one for me. The Maverick was always a bit of a ? for me, but now I very much look forward to the arrival of my Lariat Lux Hybrid in the hopefully-not-to-distant future.
I shopped this Maverick around and here are the offers I received:
Vroom - $29,000
Carmax - $29,000
Cargurus - $28,926
Carvana - $32,694 - accepted
I shopped this Maverick around and here are the offers I received:
Vroom - $29,000
Carmax - $29,000
Cargurus - $28,926
Carvana - $32,694 - accepted
Last edited:
You can use the capital gains to get the full 7500 tax credit on a Ford Lightning 
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You did good. I have been super dubious of all the "I'm going to sell my Maverick and get rich" postings here. I'd love to see you post again after closing the sale with the final numbers.
I'm curious, what was the actual difference between your purchase price and what you were paid by Carvana? I mean, there is your MSRP of $22,575. And you paid around $1,500 delivery fee. And you paid some kind of dealership paperwork fees. And you paid state taxes. And you paid registration. I'm figuring your actual cost was around $25,000? Which means you still did GREAT, pocketing $7,000 for your troubles and getting a free maverick for several thousand miles.
I'm curious, what was the actual difference between your purchase price and what you were paid by Carvana? I mean, there is your MSRP of $22,575. And you paid around $1,500 delivery fee. And you paid some kind of dealership paperwork fees. And you paid state taxes. And you paid registration. I'm figuring your actual cost was around $25,000? Which means you still did GREAT, pocketing $7,000 for your troubles and getting a free maverick for several thousand miles.
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I would have to ask my tax professional how NOT to report it. I give too much to the IRS as it is and what do they do with it? Pay people to not work! F that!
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Offered $37,273 for my Lariat. Paid 36.3K OTD
MSRP - 22,575
Paperwork fee - 300
Delivery - 0
GA state tax and registration - 1602
Total = 24,477 OTD (this is every penny I have in it)
Carvana's actual offer is 32,694 (edited above to correct)
32,694 - 24,477 = 8,217
I did not buy this Maverick to re-sell it. I bought it to hand it off to a family member for no profit. That did not work out, so here we are. I don't need it, so why not?
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