Would you take $5,000 over what you paid?

[Johnkn]

MLowe05 I missed your 'after tax' comment above.... Sorry, My error....

I never suggested someone shouldn't sell due to any STG tax implications, only that Short Term Gains if applicable should be factored into the equation.

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[Johnkn]

+Who cares how much taxes are taken out when the net profit to you is worth it?

Completely agree, a challenge here is that many on this forum don't understand or have had to deal with Short or Long term capital gains tax......

I can assure you it's no fun writing a $n0,000 check to the IRS at tax time... LOL

..

 

[Ford Maverick Maniac]

This tax argument is made frequently and is flawed. Just because you must pay tax does not mean the profit you do make is not worth it. You also assume that you'll be getting back in line for the same vehicle - but what if you're not waiting on another Maverick? Also, I'd consider $5,000 on the low end. I got $8000 more than I paid for my 2023 Maverick, $9500 more than I paid for my 2022 EB, and $9000 more for my 2022 Hybrid. Are you saying because of taxes I should have skipped all of this? Why don't I just quit my job while I'm at it since they're taking around 40% as well?

In a year I drove 3 different Mavericks a combined 8,500 miles and sold them for a combined $26,500 more than I paid. After taxes that is a pure profit of $16,000 - or the equivalent of being paid $1.88/mi to drive a Maverick - all for pleasure. I work in logistics and that is quite a bit more per mile than lots of professional CDL drivers.

The tax info is not flawed, it is a real check people cannot avoid because the amount of the sale is recorded when the vehicle is re-registered. Many have already spent the money for Christmas or a vacation before realizing they have to somehow pay both Fed and State tax on the gain in April. This ends up hurting them financially because now they owe money they no longer have. It is much worse if they also have to pay hundreds more in penalties and interest on tax owed to the gov.

Selling a Mav to make some money is good. But there are 3 negatives. 1) If you do not set aside the estimated tax amount to be able to pay at tax time. 2) If you have no other order in the system, it could take 12-18 months to wait for a new one. 3) The fuel savings over the years is worth way more than a $3,000 net profit ($5,000 before tax).

 

[stoptothink]

The tax info is not flawed, it is a real check people cannot avoid because the amount of the sale is recorded when the vehicle is re-registered. Many have already spent the money for Christmas or a vacation before realizing they have to somehow pay both Fed and State tax on the gain in April. This ends up hurting them financially because now they owe money they no longer have. It is much worse if they also have to pay hundreds more in penalties and interest on tax owed to the gov.

Selling a Mav to make some money is good. But there are 3 negatives. 1) If you do not set aside the estimated tax amount to be able to pay at tax time. 2) If you have no other order in the system, it could take 12-18 months to wait for a new one. 3) The fuel savings over the years is worth way more than a $3,000 net profit ($5,000 before tax).

Ignorant people who spend money they don't have doesn't change basic math. Net profit is net profit. There is zero risk that I just spend all the money I would get from selling my Maverick without calculating the tax consequences, because I'm not a moron...I can't answer for the rest of you.

I'm not selling for $5k over though, because there is nothing I can get relatively soon that meets our needs as well within even $8k of what we paid.

 

[Ford Maverick Maniac]

The Maverick fits my needs so well that I'd have paid a lot more than I did. Not one other vehicle fits my needs in the market:
1. Under 4,000 lbs weight
2. Flat-towable
3. Hybrid fuel efficiency
4. Four doors
5. A pickup bed
6. A real spare tire (no fix-a-flat garbage)

It also fit my wants:
1. Intelligent access so the key lives in my pocket and is never taken out
2. Heated seats and heated steering wheel
3. Nice looking (love that BAP on Alto Blue)
4. Adaptive Cruise and the rest of the 360 stuff

The closest thing on the market I had found is my 2017 C-Max that meets all those requirements except it has no real spare tire, no pickup bed and no heated steering wheel.
So why would I sell it? You can't drive cash.

Hi Brad & Christine, you are subbed to my channel. Thank you, I hope I continue to earn your sub. I try to be different than the big reviewers who make you stare at them most of the video. Wyoming, nice!

Good point you cannot drive cash. The same applies to equity in a home. Sure you can make money but you cannot live in a house of taped together cash. You gotta live somewhere.

Even with equity, if the wait for another house (or Maverick) is too long or it cost even more for the next house (or Maverick) it makes no sense to sell.

 

[BradnChristine]

Hi Brad & Christine, you are subbed to my channel. Thank you, I hope I continue to earn your sub. I try to be different than the big reviewers who make you stare at them most of the video. Wyoming, nice!

Good point you cannot drive cash. The same applies to equity in a home. Sure you can make money but you cannot live in a house of taped together cash. You gotta live somewhere.

Even with equity, if the wait for another house (or Maverick) is too long or it cost even more for the next house (or Maverick) it makes no sense to sell.

If you have the RIGHT car for your needs, and the RIGHT house for your needs, trading either for more money is a dumb move.
Wyoming is absolutely wonderful. I just found it and made it home 2 years ago at 72. Wonderful even though it is the end of March and snowing again. This was a VERY snowy winter, so I will keep my eyes open for an AWD, towable Hybrid Maverick in the next few years. The Jeep will do for bad days.

 

[lonewolf904]

I'm not trying to stir the pot but... If you could sell your brand new Maverick for $5k over what you paid within a week would you? I'm asking because it seems someone with a 2023 maverick in hand could walk into a dealership and trade it in for a Ranger and little or no cash. We all love the Mav but Rangers are cool too. I'm just asking. Don't hate me. I saw this on another post here. $43,600 is a Ranger price .

Heck yes sold 2 for 3k over what I paid hope to get 5 k over my 2023 lariat hybrid that I have now lol any takers

 

[MAVRICKDAVE]

HellMothaphukingYeah!

Good topic and relatable to my thinking from the beginning of my Maverick story. I've had many mini trucks of several brands in my lifetime. 4 were Rangers with all good experiences. I usually gravitated towards XLs as my target when I was younger and poorer. Didn't want to pay extra for options of minimal personal value and bloat the price. Later on I got a really good deal on a 2001 Supercab and found I liked the extra space enough to start preferring it. We're retired and have hobbies and interests that require a full size truck a lot of the time, which can cause schedule conflicts sharing. We found we are happier as a 2 truck household, but only 1 needs to be full sized.

When we bought our 2018 F-150 I heard about the "new" Ranger coming back, and also was told by my sales guy if I waited longer there was a redesigned version coming. I still had our old truck and my SUV and the luxury of waiting. So the Maverick appeared 1st and I ruled out the current midsize options, and focused on Maverick as a Good enough for now truck for most my needs but would upgrade if something even better for my wants appeared. So, I got my Maverick and have work arounds for the shortcomings and could be happy keeping it...

Enter the 6th generation Ranger. I don't like the new GM twins, hate Tacoma interior ergonomics and not impressed enough to consider Frontier as an upgrade over what I have. Thinking back to my 2 Ranger Super Cabs, I start paying attention to new Ranger news and it appears there will probably be an XL Super Cab with 6' bed available - which I DO consider a worthy upgrade Pricing hasn't been released yet, but using 2023 Build and Price tool + adding $3-5k to MSRP to estimate new 2024 baseline and adding a few packages, I end up a little over $33k including destination and some fees OTD.

I paid a little over $26k OTD for my Maverick, and KBB gave me a Trade in value of $31.2k. My same (only) local Ford dealer is interested in taking the Maverick back in trade as they have none for the lot and can't get stock units. So, long story short, looks like my Maverick is worth $5k more than I paid even on trade in, and if the new Ranger actually checks more boxes for me, yeah I will take the $5k over what I paid and have most the new Ranger covered

Good topic and relatable to my thinking from the beginning of my Maverick story. I've had many mini trucks of several brands in my lifetime. 4 were Rangers with all good experiences. I usually gravitated towards XLs as my target when I was younger and poorer. Didn't want to pay extra for options of minimal personal value and bloat the price. Later on I got a really good deal on a 2001 Supercab and found I liked the extra space enough to start preferring it. We're retired and have hobbies and interests that require a full size truck a lot of the time, which can cause schedule conflicts sharing. We found we are happier as a 2 truck household, but only 1 needs to be full sized.

When we bought our 2018 F-150 I heard about the "new" Ranger coming back, and also was told by my sales guy if I waited longer there was a redesigned version coming. I still had our old truck and my SUV and the luxury of waiting. So the Maverick appeared 1st and I ruled out the current midsize options, and focused on Maverick as a Good enough for now truck for most my needs but would upgrade if something even better for my wants appeared. So, I got my Maverick and have work arounds for the shortcomings and could be happy keeping it...

Enter the 6th generation Ranger. I don't like the new GM twins, hate Tacoma interior ergonomics and not impressed enough to consider Frontier as an upgrade over what I have. Thinking back to my 2 Ranger Super Cabs, I start paying attention to new Ranger news and it appears there will probably be an XL Super Cab with 6' bed available - which I DO consider a worthy upgrade Pricing hasn't been released yet, but using 2023 Build and Price tool + adding $3-5k to MSRP to estimate new 2024 baseline and adding a few packages, I end up a little over $33k including destination and some fees OTD.

I paid a little over $26k OTD for my Maverick, and KBB gave me a Trade in value of $31.2k. My same (only) local Ford dealer is interested in taking the Maverick back in trade as they have none for the lot and can't get stock units. So, long story short, looks like my Maverick is worth $5k more than I paid even on trade in, and if the new Ranger actually checks more boxes for me, yeah I will take the $5k over what I paid and have most the new Ranger covered

Wow. Did i write this post?

Heck yes sold 2 for 3k over what I paid hope to get 5 k over my 2023 lariat hybrid that I have now lol any takers

Don't blame you and 5k might be cheap...

 

[Mavreezy]

Wow. Did i write this post?

Don't blame you and 5k might be cheap...

There are a few reasons why I answered it that way. I'll try to explain my answer as best as I can without sounding too corny.

1. PATIENCE - At my age (48) I've learned and gained the willpower to wait for something I really want (Maverick Hybrid and/or a future Maverick PHEV ). Thanks to God, I don't have the same thought process as I did when I was in my teens and 20's, where I was always anxious to get every new toy that came along. Unfortunately, there's a lot of individuals in this club that seem to have those same characteristics I had. Regardless, to each his own and I'm not knocking it.

2. LUCK - I'm lucky and blessed to have another vehicle(s) that I can drive while I wait for the opportunity to get another Maverick. Of course, if God is willing to allow me to be around when it arrives . If I'm not around, that was God's plan for me and I'm perfectly fine with it.

3. FINANCE 101 - And of course the most obvious reason is, 'free money.' Why would I not take that extra money without lifting a single finger for it? I could use the extra flow towards the purchase of my next Maverick. The car market is so volatile right now that it won't be a surprise if the car prices collapse in the near future . The current car-market is unsustainable for the average American family looking for a vehicle. Finally, that free money could allow me the opportunity to help me reflect on the days of my young past. I could use the extra money to buy another car (Toy) while I wait for my next Maverick .

 

[MAVRICKDAVE]

There are a few reasons why I answered it that way. I'll try to explain my answer as best as I can without sounding too corny.

1. PATIENCE - At my age (48) I've learned and gained the willpower to wait for something I really want (Maverick Hybrid and/or a future Maverick PHEV ). Thanks to God, I don't have the same thought process as I did when I was in my teens and 20's, where I was always anxious to get every new toy that came along. Unfortunately, there's a lot of individuals in this club that seem to have those same characteristics I had. Regardless, to each his own and I'm not knocking it.

2. LUCK - I'm lucky and blessed to have another vehicle(s) that I can drive while I wait for the opportunity to get another Maverick. Of course, if God is willing to allow me to be around when it arrives . If I'm not around, that was God's plan for me and I'm perfectly fine with it.

3. FINANCE 101 - And of course the most obvious reason is, 'free money.' Why would I not take that extra money without lifting a single finger for it? I could use the extra flow towards the purchase of my next Maverick. The car market is so volatile right now that it won't be a surprise if the car prices collapse in the near future . The current car-market is unsustainable for the average American family looking for a vehicle. Finally, that free money could allow me the opportunity to help me reflect on the days of my young past. I could use the extra money to buy another car (Toy) while I wait for my next Maverick .

Ditto

 

[Ranger Danger]

I got tired of waiting for my order so I went out and found one I liked and purchased it. It was from a private owner and I paid a few thousand over MSRP. I’m glad I did this,since I’d never sat in or driven the Hybrid. Now I have a great perspective of the Truck and know I made the right decision ordering one. My original order is scheduled to be built the first week in May. When it comes in I’ll sell my current 2023 Hybrid XLT. Carmax only 2 miles away has offered me $6K over MSRP. I’ve also had some strong Dealer offers. Still none on any Ford Dealer lots around me.

 

[jesemd]

Yes. Great down payment on a F-150.

 

[MAVRICKDAVE]

Yes. Great down payment on a F-150.

I am starting to think about that.... Trade my hybrid for a real truck. I love the Maverick. But dang. If I can get even trade for a ranger with options? Never been in a Ranger so just saying.

 

[RLmesc]

The Ranger won't fit in my garage, 199" will, so NO, I'll go with what my garage interior decorator says will fit

 

[Barracuda340]

Nope ! I love this truck. Fits my needs perfectly. And I have accessorized it to my liking. I'd have to do that all over again. Again nope!!

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