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Chronic Car Buyers Anonymous (Archived)

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Comments

  • steverstever Guest Posts: 52,454
    Gotta spend your money on something. The part that would bother me would be the DMV fees and taxes every six months. B)
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    What a scam. If a car gets bought and sold 6 times in one year, they collect the tax 6 times over.

    I have to figure 10% extra when I buy a car in California.
  • stickguystickguy Member Posts: 53,350
    Jersey the same. Between tax, fees and tags, gets real pricey to keep flipping.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • jayriderjayrider Member Posts: 3,602
    stickguy said:

    Jersey the same. Between tax, fees and tags, gets real pricey to keep flipping.

    At least we can take comfort in knowing that all that tax money is going toward the common good. No bridges to nowhere or jobs for family and friends.
  • brian125brian125 Member Posts: 5,244
    edited December 2014
    jayrider ,

    Very true.......... Remember what Calogero said in........... A Bronx tale.

    The working man is a sucker..................... and that be us. So flip those cars and enjoy life.

    Makes me feel so good knowing I threw my money away on something I love then my money being spent on Gov't........... and there dependents.



    23 Telluride SX-P X-Line, 23 Camry XSE

  • stickguystickguy Member Posts: 53,350
    Jay, let me fix that for you:

    At least we can take comfort in knowing that all that tax money is going toward the common good. No bridges to nowhere or but many jobs for family and friends.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • steverstever Guest Posts: 52,454
    Too bad tourism isn't really opening up all the way for Cuba visits. Although I suppose you could start an import business - Shifty's Classic Cuba Imports has a nice ring to it. Talk about some cars to flip.

  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    I'm getting pretty disgusted with the money-grubbing sleazoid classic car business. Auction houses just ruined the hobby for everyone. A pox on them!
  • jayriderjayrider Member Posts: 3,602
    stickguy said:

    Jay, let me fix that for you:

    At least we can take comfort in knowing that all that tax money is going toward the common good. No bridges to nowhere or but many jobs for family and friends.

    Nicely edited.
  • berriberri Member Posts: 10,165
    Well, if you're younger - wait until the older people start dying off. Generally, someone like an auction house can distort a business segment, but longer term most things head back to equilibrium, and the ride back is often ugly.
  • corvettecorvette Member Posts: 11,288
    berri said:

    Well, if you're younger - wait until the older people start dying off. Generally, someone like an auction house can distort a business segment, but longer term most things head back to equilibrium, and the ride back is often ugly.

    Good point. The market for Model Ts and Shelby Cobras will be very different when cars (as we currently know them) are considered a quaint anachronism.
  • au1994au1994 Member Posts: 3,703

    What a scam. If a car gets bought and sold 6 times in one year, they collect the tax 6 times over.

    I have to figure 10% extra when I buy a car in California.


    Same thing here in Georgia. A 6.75% ad valorem is levied when you purchase. Even on a lease the full amount of the car is taxed. When it is sold again a full 6.75% is collected again.

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  • graphicguygraphicguy Member Posts: 14,120
    stever said:

    Too bad tourism isn't really opening up all the way for Cuba visits. Although I suppose you could start an import business - Shifty's Classic Cuba Imports has a nice ring to it. Talk about some cars to flip.

    Now there's a splendid idea.

    I know someone who goes in and out of Cuba several times a year. He lives in Miami and has a 52' Cabin Cruiser which is actually his home. Not much in the way of border patrol in Cuba apparently. He comes and goes as he pleases.

    While I don't know this for certain, I think he does a little import/export business.

    Been a few years ago, but he said it was inevitable that relations between Cuba and the U.S. would normalize. And, when it does, he said he had an in to buy waterfront property there, which he believes Americans would pay handsomely for.

    I used to think maybe he was a bit on the crazy side. Now, maybe not so crazy.
    2024 Kia EV6 GT-Line AWD Long Range
  • breldbreld Member Posts: 6,918
    edited December 2014
    Well, to be fair on the flip transactions, if you trade the car in, you get a credit for the trade value against sales tax, so you didn't pay the taxes "twice" except to the extent the car depreciated. That, of course, requires you to trade versus selling privately, and is also dependent on individual state law.

    And similarly, here in Colorado, we get a pro-rated credit for the DMV fees when you switch over the plates. So, not all lost.

    Still, no doubt flipping can get expensive - I certainly have paid my dues. :)

    Worst one, naturally, was my first BMW - 530xi purchased new and sold 2-3 years later. Other than the one X3, note I have never bought a BMW new again. And we haven't lost our shirt on any of them:

    1995 318ti Bought $5,500; sold $4,900
    2002 530i Bought $12,900; sold $10,000 (twice)
    2004 330ci Bought $12,500; sold $11,000
    2011 335xi Bought $35,600; sold $30,500
    2010 328xiT Bought $32,000; sold $29,500

    That 335xi turned out to be the biggest loss - about $5,000 over the year, or $425/month. For me, I'm okay with paying that "rent" per month. The rest were much lower - $200-$300/month. Again, I'm okay with that as a usage fee. Just have to have the stomach to go through the process of buying and selling - I enjoy it, as many of us do.

    It's sort of like leasing a car short-term, except you're your own financing bank and you're floating the residual of the car until you sell.

    2024 Audi Q8 e-tron - 2017 911 C4S - 2025 BRZ - 2023 A6 Allroad - 2024 Genesis GV60 - 2019 Cayman

  • kyfdxkyfdx Moderator Posts: 265,659
    breld said:

    Well, to be fair on the flip transactions, if you trade the car in, you get a credit for the trade value against sales tax, so you didn't pay the taxes "twice" except to the extent the car depreciated. That, of course, requires you to trade versus selling privately, and is also dependent on individual state law.

    And similarly, here in Colorado, we get a pro-rated credit for the DMV fees when you switch over the plates. So, not all lost.

    Still, no doubt flipping can get expensive - I certainly have paid my dues. :)

    Worst one, naturally, was my first BMW - 530xi purchased new and sold 2-3 years later. Other than the one X3, note I have never bought a BMW new again. And we haven't lost our shirt on any of them:

    1995 318ti Bought $5,500; sold $4,900
    2002 530i Bought $12,900; sold $10,000 (twice)
    2004 330ci Bought $12,500; sold $11,000
    2011 335xi Bought $35,600; sold $30,500
    2010 328xiT Bought $32,000; sold $29,500

    That 335xi turned out to be the biggest loss - about $5,000 over the year, or $425/month. For me, I'm okay with paying that "rent" per month. The rest were much lower - $200-$300/month. Again, I'm okay with that as a usage fee. Just have to have the stomach to go through the process of buying and selling - I enjoy it, as many of us do.

    It's sort of like leasing a car short-term, except you're your own financing bank and you're floating the residual of the car until you sell.


    Depends on the state.. not every state offers a trade-in credit to sales tax..

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  • qbrozenqbrozen Member Posts: 33,736
    edited December 2014
    That is almost very kinda tempting... but no warranty to speak of? oh boy.

    By the way, that just happens to be the place I bought my GTI from several years back.

    '11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S

  • jayriderjayrider Member Posts: 3,602
    qbrozen said:

    That is almost very kinda tempting... but no warranty to speak of? oh boy.

    By the way, that just happens to be the place I bought my GTI from several years back.

    What a coinkadink ! I saw that almost identical Jag on the interstate this morning. I noticed because it was Pepto-Bismol pink. Must have been a special order -- nothing to indicate Mary Kay Cosmetics either.
  • stickguystickguy Member Posts: 53,350
    jersey does do a tax credit on a trade in, but you still get hit with dealer doc fees and DMV fees. But yes, that saves money, offset by the quick and immediately delta loss between retail and trade!

    Breld, that is the way I look at flipping cars too, if you are paying cash (which is otherwise in a low interest money market account) or getting cheap financing. Basically, like on a lease, you are paying monthly depreciation. so buying and selling used cars can be compared to a lease.

    cars cost something annually, no matter how you do it. even if you don't sell the one you have, it still depreciates, so unlike some people think, it doesn't cost "nothing" to hang onto your current ride!

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • stickguystickguy Member Posts: 53,350
    Rob, step away from the Jaguars. Back up nice and slow, before you get attacked.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • qbrozenqbrozen Member Posts: 33,736
    ...but...but...awww...they're so pretty!

    '11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S

  • stickguystickguy Member Posts: 53,350
    so are tiger cubs, but I still don't want to pet one.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • corvettecorvette Member Posts: 11,288
    stickguy said:

    so are tiger cubs, but I still don't want to pet one.

    (sort of) on topic, but this is the off-topic topic, right?

    http://xkcd.com/325/


  • stickguystickguy Member Posts: 53,350
    saw another E class today, and pointed it out to the wife. She had noticed one on the road not long ago and commented that it was nice. We both really like the look, size, etc.

    I have now decided (subject to change, as all my decisions are!) that my next car (when the new lease runs out) will be an E class. Most likely an off lease, since that would time out perfectly to get a 2015 with low miles off lease or CPO, and by then, might be in my price range!

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • Sandman6472Sandman6472 Member Posts: 7,218
    One thing I've learned, never say never!!! Who'd a thought I's switch out of a perfectly good vehicle into another one in just over a year? Never in a million years did I ever think about this happening but I knew that I always looked at other vehicles all the time on the road. Should I have done this, probably not but do I regret it, not at all. Chalking it up to a senior moment and the need for something more fun that what I had because I think driving needs to be fun, we need to enjoy something we do so often. Now, I've been opening the sunroof whenever possible and just enjoying that sweet little engine and the way it sound.
    So, I have learned one thing here and that's to never say never!!!

    The Sandman :)B)

    2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)

  • kyfdxkyfdx Moderator Posts: 265,659
    edited December 2014
    stickguy said:

    saw another E class today, and pointed it out to the wife. She had noticed one on the road not long ago and commented that it was nice. We both really like the look, size, etc.

    I have now decided (subject to change, as all my decisions are!) that my next car (when the new lease runs out) will be an E class. Most likely an off lease, since that would time out perfectly to get a 2015 with low miles off lease or CPO, and by then, might be in my price range!


    We looked at the E-Class, before leasing the Infiniti... mainly because the diesel models were leasing for $450/mo. for just 24 months.

    But, it's a pretty big car.. not sure of dimensions, but it feels like a whole class size above the Accord/Sonata/Camry.. My wife just didn't feel comfortable driving it (width, mostly). Plus, she didn't want to be the "old lady driving a Mercedes"..

    I was lobbying for it... :)

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  • breldbreld Member Posts: 6,918
    Sandy - you're absolutely right. For as much time you spend in your car, you should enjoy it. Very happy for you.

    Stick - a used E class would be great. I think that class of car make incredible used car buys - E class, 5 series, A6, even M37. Though the A6 seems to hold its value a bit better than the others. My wife loves her GTI, but even she remarks on the relative value of my CPO 535xi, only costing a bit more than her new VW.

    2024 Audi Q8 e-tron - 2017 911 C4S - 2025 BRZ - 2023 A6 Allroad - 2024 Genesis GV60 - 2019 Cayman

  • rayainswrayainsw Member Posts: 3,192
    'Should I have done this, probably not..' - Sandy
    You're welcome!
    = Ray
    We are all enablers here....
    2022 X3 M40i
  • qbrozenqbrozen Member Posts: 33,736
    stickguy said:

    Rob, step away from the Jaguars. Back up nice and slow, before you get attacked.

    After I was away from the computer and the Siren's call faded, I realized that financing a $40k, 6-year-old vehicle would be really crazy.

    '11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S

  • steverstever Guest Posts: 52,454
    Second opinions invited. (No one knows better than you guys).
  • abacomikeabacomike Member Posts: 12,388
    stever said:
    Second opinions invited. (No one knows better than you guys).
    You're right on target.

    2024 Genesis G90 Super-Charger

  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    But the miles are only 23,000. I've heard of Jaguars going TWICE that! :)
    stickguy said:

    Rob, step away from the Jaguars. Back up nice and slow, before you get attacked.

  • henrynhenryn Member Posts: 4,289
    qbrozen said:

    stickguy said:

    Rob, step away from the Jaguars. Back up nice and slow, before you get attacked.

    After I was away from the computer and the Siren's call faded, I realized that financing a $40k, 6-year-old vehicle would be really crazy.
    My credit union is offering 1.59% for 6 years on new cars. And almost that good on recent model used cars. A 5 or 6 year old car? 2.99%, at best, and for only 4 years. Let me see here, $40k plus sales tax and license, minus 20% down (which is $8k by itself), and you're looking at around $750 per month for 48 months.

    $750 per month on a car with no warranty. Hmmm....

    And after you have it paid off, 4 years from now, it will be worth, what, about ..., roughly ... Nothing???

    Like the man said, "Back away..."



    2023 Chevrolet Silverado, 2019 Chrysler Pacifica
  • fintailfintail Member Posts: 58,415
    2017-2018 or so might be a good time to make a move, as the W213 will be out then, which won't help W212 resale. The current E has been a generally good car, no huge issues in the platform.
    stickguy said:

    saw another E class today, and pointed it out to the wife. She had noticed one on the road not long ago and commented that it was nice. We both really like the look, size, etc.

    I have now decided (subject to change, as all my decisions are!) that my next car (when the new lease runs out) will be an E class. Most likely an off lease, since that would time out perfectly to get a 2015 with low miles off lease or CPO, and by then, might be in my price range!

  • breldbreld Member Posts: 6,918
    Wife and I may go check out the new Kia Sedona this afternoon - I like the look of it, and it may be a nice updated replacement for the Ody, and a bit cheaper.

    I'll let you know how it goes - I'm sure everyone will be waiting on pins and needles to hear about this updated minivan.

    2024 Audi Q8 e-tron - 2017 911 C4S - 2025 BRZ - 2023 A6 Allroad - 2024 Genesis GV60 - 2019 Cayman

  • jayriderjayrider Member Posts: 3,602
    breld said:

    Wife and I may go check out the new Kia Sedona this afternoon - I like the look of it, and it may be a nice updated replacement for the Ody, and a bit cheaper.

    I'll let you know how it goes - I'm sure everyone will be waiting on pins and needles to hear about this updated minivan.

    The only negative on the Sedona would be resale versus Honda and Toyota. Based on your recent history, shouldn't be a problem. ;)

  • MichaellMichaell Moderator Posts: 262,281
    @stickguy‌ - sent you a PM, but thought you might check here, too. Please head over to the "Honda Accord Lease Questions" discussion - we've got a poster who lives in NJ who wants to lease from a dealer in PA (hey, sounds familiar!) and has questions about the tax / tags / license issues of a cross-border deal.

    Thanks!

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  • stickguystickguy Member Posts: 53,350
    OK. Will head over.

    Breld, you already have a Minivan. Don't bother buying another one. if you are going to spend the money, get something different. If you really need a minivan, keep the Honda.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • MichaellMichaell Moderator Posts: 262,281
    stickguy said:

    OK. Will head over.

    Breld, you already have a Minivan. Don't bother buying another one. if you are going to spend the money, get something different. If you really need a minivan, keep the Honda.

    Yeah, I was thinking the same thing ... but the new Sedona probably has more bells and whistles than the "old" Odyssey, which will keep the kids entertained and out of mom and dad's hair.

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  • stickguystickguy Member Posts: 53,350
    Kids can be entertained easily with their cell phones. You don't need car based assitance for that!

    You are just looking for excuses to justify it.

    I would get a hemi Durango (or whatever it was you were all hot an bothered on last week!) instead of one of those.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • suydamsuydam Member Posts: 5,070
    You might be surprised how well the Ody has held up in terms of features, mileage, and drive.
    '24 Kia Sportage PHEV
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  • breldbreld Member Posts: 6,918
    stickguy said:

    Kids can be entertained easily with their cell phones. You don't need car based assitance for that!

    You are just looking for excuses to justify it.

    I would get a hemi Durango (or whatever it was you were all hot an bothered on last week!) instead of one of those.

    Okay, come on. "Excuses to justify" a minivan? That's about the only car you don't need to make excuses for. :)

    Here's the latest discussion: something like the Durango would be my primary car - that'd be the reason to compromise the functionality that the minivan brings. That would mean replacing the 535xi. That's where I get squeamish.

    But, I still have significant driving time in the van - probably about 1/3 to 1/2 of the time. So, I'd like a little upgrade/updating of our current van. Unlike the rest of the fleet, we've actually owned that for 3 years and 40k miles (it's 6 years old and has 85k miles).

    So....we actually really liked the Sedona. The exterior has a nice, "butchier" look to it, and we really love the interior. There's a more traditional center console between the driver and passenger seats and the leather seats are great - nice, tasteful two-tone look. Being more current than our '09 Ody, it naturally has things our current ride is lacking, such as iPod connectivity, touchscreen, bluetooth, blind-spot monitoring, etc.

    Worked on a lease deal tonight, but the $2,000 savings in sticker over an Odyssey EX-L didn't translate to any savings on the lease payment. As much as we like the car, I still don't want to pay more than a Honda, and feel it should be somewhat less.

    We'll see - I know it's hard to get excited about a van, but I did like it.

    2024 Audi Q8 e-tron - 2017 911 C4S - 2025 BRZ - 2023 A6 Allroad - 2024 Genesis GV60 - 2019 Cayman

  • breldbreld Member Posts: 6,918
    suydam said:

    You might be surprised how well the Ody has held up in terms of features, mileage, and drive.

    Yes, you're right. At 6 years old and 85k miles, it by all means has held up very well. Feature-wise, not so much. But the drive is still very nice.

    2024 Audi Q8 e-tron - 2017 911 C4S - 2025 BRZ - 2023 A6 Allroad - 2024 Genesis GV60 - 2019 Cayman

  • stickguystickguy Member Posts: 53,350
    having something with the latest goodies, you do realize how quickly things change. The Sonata even has stuff that the RDX doesn't (though that was a base model, and Acura likes to restrict some stuff to the tech packages).

    comparing it to our 2005 Odyssey, no contest. I don't think that even had Bluetooth. But maybe it did. I just don't remember it! But the radio interface, back up cams, BLIS, Nav, voice recognition. that stuff is amazing.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • corvettecorvette Member Posts: 11,288
    breld said:

    Okay, come on. "Excuses to justify" a minivan? That's about the only car you don't need to make excuses for. :)

    To an extent... I'll admit I did some research on getting a minivan when I was a 20 year old college kid and transporting computers, printers, and those archaic old CRT monitors all over the territory doing IT work. The Jetta I had at the time managed to fit everything fairly well.
  • steverstever Guest Posts: 52,454
    edited December 2014
    @breld, what kind of numbers are we talking for a Sedona? I'm really trying to wean myself and get something smaller but geeze, they just are so practical.

  • nyccarguynyccarguy Member Posts: 17,499
    @breld‌

    I didn't realize you were using the Odyssey as your primary vehicle. I have no doubt that Sedona Minivan is nice, but it would have to be WAAAAAY cheaper ($5K rebate plus $5K off sticker) than the comparable Odyssey or Sienna for me to even consider it. Resale is also a consideration, especially if you decide "it's not for you" in a year.

    I've seen a few Durangos more than usual on the road over the past week. I like them. Very manly! V8 is a big plus.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD

  • breldbreld Member Posts: 6,918
    Well, based on the info I had, I was shooting for a lease pmt of around $360-370/month (plus tax), with nothing down (3 yr/36k). That's for an EX/premium model with an MSRP of $34,990.

    They were more around $415/month, which is exactly the same quote I had on a new Odyssey EX-L. Again, I happen to prefer the Sedona at this point, but still think it should be cheaper than the Honda.

    2024 Audi Q8 e-tron - 2017 911 C4S - 2025 BRZ - 2023 A6 Allroad - 2024 Genesis GV60 - 2019 Cayman

  • steverstever Guest Posts: 52,454
    edited December 2014
    There's some similar comments floating around about the pricing of the new Sonata. Kia/Hyundai have upped pricing a bit since they've upped their reputation, or at least the dealers seem to be wheeling and dealing a bit closer to the vest. Still more bang for the buck than a SUV unless you need to tow or need clearance or AWD/4WD. Best bang for buck would be a used one though, even more so than most cars or SUVs I think.
  • stickguystickguy Member Posts: 53,350
    problem with the Sedona is that it is a brand new design. So it is new, or nothing. the used ones are the old model and way inferior.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • steverstever Guest Posts: 52,454
    edited December 2014
    That's the rub. What the hey, someone has to take the depreciation hit, and yeah, you do get to enjoy the new features. Maybe one of the safety gizmos will save your bacon in a wreck too.
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