Chronic Car Buyers Anonymous (Archived)

woodyww

the whole community is rallying to help this family

Not an expert, but I've read horror stories about donating vehicles. Apparently the IRS targets people who take deductions for that. And people wind up with a $100 tax deduction for a $5K vehicle sometimes.

What about just buying the person a $2K used honda or escort or something? With donations????

michaellno

What about just buying the person a $2K used honda or escort or something? With donations????

I suppose that could be done, depending upon how much assistance they ultimately get.

At the moment, my wife is concerned about two things:

--> Paying December's rent (rent amount is $1200, but my wife knows the daughter of the folks who own the home the family is living in and she's agreed to talk to them about reducing the amount of the rent)

--> Funeral arrangements for the husband

What she keeps telling me is that this family won't just need help now, but a month (or two or three) from now as well. Here's hoping that they can help this young woman get her life back in order. My wife has commented that she didn't seem like the type of person who was good at taking care of things.

If I do decide to donate the car, I'll give the IRS a call first to ensure that I don't have any problems with the tax implications.

If I were to guess, the probability of this happening is fairly low -- maybe 5% or 10%.

guss

I think the tax deduction to you would be zero. With the new IRS rules the amount you can deduct is the actual amount the charity receives for you car. In this case probably $1 to transfer title.

I think if you wanted to use you cars value to donate. I would sell it outright and give the cash to the Church to by them a lesser value car and use the rest for expenses/car insurance. This way you would get the full value of the deduction on your taxes.

The reason you probably did not pay sales taxes on the sale to your son is because most states allow you to transfer ownership to closely related family members tax free.

I hope it turns out well for the family. You are good man for even considering this.

michaellno

The reason you probably did not pay sales taxes on the sale to your son is because most states allow you to transfer ownership to closely related family members tax free.

Ah, that makes sense.

Update on the family ... my wife and some of her staff went to visit the widow this afternoon.

They brought over loads of groceries .. completely filled the house up. Apparently, they are getting a side of beef donated to them as well, but that will probably be stored in freezers at my wife's program.

On the burial arrangements, it looks as if there is a program where the county can assist with the costs. However, there seems to be a disagreement about which county should pay .. the county they lived in or the county where the suicide took place.

I'm angry enough about this to call the local media. :mad: :mad:

Anyway, thanks for all the advice provided ... I'll keep everyone updated on the status of things, especially the transportation issue.

kyfdx

Not an accountant.. but..

If the charity re-sells the car, then the amount realized is the amount of your tax deduction.. However, if they are fixing it up/giving it away, then you can take the ACV of the donation. This might involve an appraisal, or the charity itself can put a value on it.

The key is: You can't donate a beater worth $300 and take a $3000 deduction. If you donate a car that you could legitimately sell for $3000, then you can certainly claim that amount for a deduction.

You just have to have your ducks in a row... because, the I.R.S. will definitely scrutinize that sort of thing, because of all the abuse in the past.

However... your suggestion is probably the best.. Give money.. If that involves selling the car first, then that is the way to go.

regards,
kyfdx

woodyww

Can they get: welfare? Food stamps? Any possibility they would get social security if the husband had worked enough to accumulate enough credits?

burial arrangements.....is a very basic, inexpensive funeral possible? Once you contract with a funeral home, things get expensive very fast even for the basics. Are there other alternatives for people w/o resources? Not to get too macabre, but I knew a family who opted for well, the other alternative to burial.

Finally, is there any state/county/agency or charitable org. that could help sort all of these things out?

michaellno

I know that Social Services has been in touch with the family already, so I'm sure that some sort of assistance will be coming their way.

Don't know about Social Security; I can't remember what the husband did, work-wise.

If I find anything else out, I'll pass it along.

On a CCBA-related note, I test drove a Honda Fit on Saturday. Zippy little car, quite flexible (almost a mini-mini-SUV). However, there were two things that really bugged me:

1) No place to rest my left foot. There is a 'bump' where a proper dead pedal would normally be, but it wasn't flat.

2) Not terribly wide inside. Wife and I were almost rubbing shoulders during the test drive.

woodyww

Totally OT: I accepted an offer on my house, after having it listed for 2 weeks on one of those flat-fee $300 services that gets it into the MLS. (Believe me, I know there can be a long & precarious road between a property going "under agreement", & actually closing, so I'm just remaining "cautiously optimistic").

Best thing: I get to go look for a much nicer house (as long as it's not in this super-expensive town, or too nearby). I'm thinking of going really crazy this time, & buying a place where the heat works in all the rooms, it doesn't have any collapsing rooms or a crumbling garage, & the kitchen doesn't look like something out of one of those shacks in "The Grapes of Wrath". I hope that's not asking for too much?...... :confuse:

Now I have to decide which rims to mount my snow tires on, or to try to run them year-round (putting on 2-3K miles a year, in New England). Decisions, decisions......

sandman46

Congrats on the house...I do agree to get really happy once the check is in your hands. This subprime stuff has caused a few of my co-workers to have everything fall thru at the last minute, so I applaud your "cautiously optimistic" stance. Good luck though.
Wife went to drive a new Ford Fusion this morning for a promotion,,,free $75. gift card. They put her into a leather clad mid level model and she walked away rather unimpressed. She thought the view out all the windows was exceptional though, as she's unhappy with that one issue in her Mazda 3. Felt the 6 cylinder was a bit slow and didn't care for the plain looking interior. She also said that the showroom was pretty dead for a noon Sunday with 80 degree weather outside. Guess most folks are taking a wait & see attitude about new car purchases this time of year.
Luckily, she still likes her 3 so we can put off new car shopping for a few years now. Thinking when the 2011 models appear, she'll be ready and hopefully her 3 will still have under 80k by then. My Civic should last me till I retire and then some at the rate I put miles on it.

The Sandman

stickguy

we are making the last payment on the Odyssey this month, and my wife made the first comment about what she wants on the next one.

THis is the women that sees no reason to ever replace the current car, unless it leaves her stranded or otherwise inconveniences her.

She just happened to make a comment that her next car would have XM built in, so we can gid rid of the roady hooked (poorly) to the dash vent, and the tangle of wires snaking around the cabin.

Of course, I'm not going to mention that we could do that on her car (not that it is cheap). Don't want to spoil her dreams!

Too bad this van isn't on schedule to be replaced until January, 2012 when it will likely have ~85-90K on it.

1/2012 also happens to be the date we should make the last tuition payment for the eldest offspring. Gee, maybe there is a coincidence there?

Did just get new tires, and even sprang for the 3 year unlimited alignment package, so we will have to keep it at least that long.

About to be car payment free for the first time in 3 years (had about 2 before the Ody came along). That will be nice.

My real goal is to not finance again. See how that works out!

Unless, of course, I pull the trigger on a subsidized lease for the next family truckster.

guss

Congratulations(hopefully that's toy jinxing it). Sounds like you will be moving up in payments if you are looking for something with indoor plumbing.

We will be car payment free for the first time in 5 years in March '08. That will be nice for awhile. Even though we have the cash in the bank I am sure we will finance the next truckster. The wife likes new with some bells and whistles. So that will mean at least $25k., too much for me to lay out all at once mentally. Maybe a 2 or 3 year loan , unless I find some free finance money like the last one.

I am close to pulling the trigger on 2000 MR2 with only 68k miles. It really is in really excellent shape and a pretty good deal for only $8k.. I am sure I can turn around and sell it in the spring for more. I am just wrestling with paying that kind of money for a toy. I started looking for something for about half that price, but in that range everything is 10 years old with over 100k miles. So my limit creaped up and up.

Anyone else have an aversion to spending that kind of money for something that will only be driven a few time each week?

bumpy

Anyone else have an aversion to spending that kind of money for something that will only be driven a few time each week?

Heck no. I spent $17k on the S2000 and I drive that maybe once a month depending on the weather.

roadburner

Anyone else have an aversion to spending that kind of money for something that will only be driven a few time each week?

Go for it. I have a 1996 Speed Triple that I'm lucky to ride once a month, and my ti and Wrangler get exercised no more than a couple of times per week.
You can NEVER have too many cars/bikes-
Just as long as they aren't boring...

akangl

But maybe a new windshield, the fix on the Pilot's windshield didn't hold, heck didn't even make it 2 weeks. The crack reappeared and is nearly 6 inches long now, guess I'll be buying a new windshield come springtime. No sense doing it now, it'll just get chipped again........gotta love DOT, if they aren't putting sand & salt on the roads, its rocks. :mad:

Had auto start put on the Pilot last week, its pretty cool actually. Haven't had auto start on a car in nearly 8 years, didn't see the point, wasn't driving anything I actually thought I could keep for a long time. The Pilot changed all that, I can see me driving it for a long long time.

Hubby keeps waiting for me to say *I want a new car*, but the Pilot is 5 months old with just shy of 12k on it and I can't imagine getting rid of it. I'd like to get rid of the payment, but not the car!

woodyww

Anyone else have an aversion to spending that kind of money for something that will only be driven a few time each week?

No. Esp. not if the car's in great condition, & you've researched MR2's. Personally, I also like the idea of a newer, lower mileage one even if you pay more--there should be benefits like less repairs, a nicer car, etc.

My last "toy" car was my M6, that I paid around $25K for when it was 5 years old. I got so much pleasure out of it the first 5-6 years it was ridiculous.....

Heck, your sicker audio nuts will pay $8K for a pair of speakers....

qbrozen

hmmmm... well, I paid $2k for my toy ('86 alfa spider) and it was barely drivable. IF I had paid full ticket for all the work I've put into it, I'd probably be up to $10-$12k. As it is, I'm into it for maybe $5k. Of course, that is over an 8- or 9-year period. I get to drive it maybe an average of once a month. I've put about 6k miles on it in those 9 years.

My wife's toy ('87 325i), on the other hand. I'm into for maybe $4k. We've had it for about 5 or 6 months and we've already put 4k-5k miles on it.

kyfdx

man.... I need better toys...

qbrozen

Want an alfa spider for $6k? ;b

lilengineerboy

So I was looking at NADA Guides, KBB.com, and Edmunds own TMV and I got an incredible range of pricing for a '92 Mazda MX3 GS in fair to clean condition. Edmunds said 5-6 hunnie, KBB was at like 1400, and NADA was in-between but on the higher side.
I am kind of on the lookout for something for winter, and something under the FoMoCo umbrella of cars, and it seems like something like that for shy of a grand would be okay, no?

nippononly

is always low, KBB is always high, when it comes to valuing used cars, seems to me.

guss

geez...where are all the Enzo owners when you need them. At least Bumpy and Roadrunner have the fever.

At least its nice to see someone is taking care of those 2 seat convertibles anyway. I guess there will always be a market for them.

corvette

Congrats on the sale of your house! Have you figured out where you're moving?

mark156

The windshield crack on the Honda CR-V has grown slowly about another inch (9 total). The windshield has also been sanded in a sand storm before the rock hit it.

I just bought a Blue Ox shield to put on the front of the Honda when I'm towing it behind the Dynasty motorhome. I haven't put it together yet but the directions look pretty straight forward. I will need a jigsaw to make the final adjustment which I don't have. I'll find somebody who has one.

I'm not replacing the windshield until I see how the new "KarGuard" works. I just replaced the broken fog-light at a cost of $109 for the fog-light assembly and $151 to install (done by Honda dealer). I don't want to break another one!

I just drove my Land Rover LR3 back from California to Tennessee (1,850 miles). As I was driving through Texas yesterday, I saw a new Ford F-250 four door pulling a Ford Bronco (same style as OJ's, but black). Anyway, as it past me going over 75 mph, I glanced over at the tow bar..... it just didn't look right. The ball on the F-250 was rather low so the tow bar on the Bronco was angled way down not really attaching evenly to the tow ball.

Guess what, the Bronco came loose. After driving 45 min. to an hour after seeing the rolling disaster... I see a crushed black Bronco sitting off to the right side of the interstate. The roof was crushed and it was totally damaged. The Ford F-250 was facing towards us in the emergency lane. Apparently, he realized the Bronco came loose and turned around and was sitting next to it waiting on the police.

I just can't imagine someone pulling another vehicle without a good connection. There were NO safety chains attached! Thank goodness the Bronco didn't veer left to oncoming traffic across the median.

Some people are just total retards! :confuse:

Mark

stever

That's scary - I always give people towing a lot of room.

A few years back up in Akangl's neck of the woods, two different homemade trailers overloaded with firewood fell apart on the highway within a couple of weeks of each other.

Another friend of mine was using a too small ball hauling a load of truck canopies one day, and the trailer passed him going downhill on a two lane. No safety chains there either. Amazingly no one was coming the other way, and the trailer hit some soft flat dirt and rolled to an easy stop. The trooper showed up, shook his head and told my friend to get the trailer out of there.

woodyww

Thanks, altho Last night & today I started having a bad case of both Seller's Remorse, & Moving Phobia.
Not about selling my dump of a house (altho I suspect I may have sold too cheaply; it sold in 2 weeks, what does that tell you?). More about the stress of "moving house", as the Brits say, after wrecking my back again this year doing leaf removal for 8 weeks on my giant yard, esp. in Winter. However the buyer's giving me until 3/15 to vacate.

But where to: one or another of those nice old historic seaport towns on or near the "N. Shore" of Mass. Thinking of getting a house "in-town"; w/in walking distance to restaurants, etc. Maybe buying an "Antique", circa 1740 thru maybe Victorian era.

The stress of buying & selling real estate puts doing car deals in perspective.....for me. But here's the basic trade: 1950's era deteriorating condition small "cape on a slab", in an expensive suburb near Boston. To a much nicer, way better condition, way cooler house, 40 miles north, still in a great but more interesting town, for about the same $$$$..........

kyfdx

What about commuting distance?

grandtotal

altho I suspect I may have sold too cheaply; it sold in 2 weeks, what does that tell you?

It tells me that you had it priced reasonably and found a motivated buyer. Believe me there is very little virtue in taking a year (or more) to sell a house.

corvette

"Moving house" is pretty traumatic, if you ask me. I've done it three times in the past four years, but hope to stay where I am for a while.

guss

Thats one of the reasons I have been in the same house for 11 years. Even though my daily commute has gone from 30 minutes to about 40 due to the added traffic I can't immagine packing up all the stuff we have accumulated.

When we moved in we had 6 friends a U-haul. We are well into the professional movers territory now.

stickguy

I'm wondering if my wife is tired of her car (2005 Odyssey). For the 2nd time in a week, she mentioned what she wants different about her next car.

Last week it was XM built in so we didn't need wires run all over the place, and a flimsy hook onto a vent.

Today, she (sopntaneously) mentioned that she didn't think she wanted another minivan when it was time to replace this one. Although she did add on a comment about probably not being for a while...

I imagine if I brought home a nice loaded mid-size crossover, like a Verecruz, Highlander, Tribeca or MDX, and somehow hid how expensive they are, she could be swayed.

stever

You know you can buy huge bows for that special Christmas gift that you park in the driveway. :shades:

stickguy

I learned a hard lesson about buying a new car for her. Not making that mistake again.

We had looked at them, and I thought she liked it....

Now, one of those nothing done $299 Deskman lease deals on a ltd. Veracruz would probably be just fine though...

I will know if she is serious if she comes to the car show with me this year in Phila. She hasn't gone in at least 5 years ("why bother if we aren't looking"), so that could be the acid test.

woodyww

Thats one of the reasons I have been in the same house for 11 years

22 years & counting for me now, & I don't even like the house (but great town & neighborhood).

I've actually been selling off stuff thru the want-ad, craigslist, & ebay for about 15 years, plus schlepping carloads of stuff to Goodwill & Salvation Army (long stories about why I had so much "stuff"). So I've been using professional movers since the early 80's, with several cross-country moves, some of them night-marish--even the cat was totally freaked out after a couple of them. Kind of explains why I've stayed in the same crappy house for 22 years.

I've had to (re)-learn a hard lesson this week: NEVER jump into buying or selling a house impulsively. I think I got totally bamboozled on the price of my house by a really fast talking clever Yuppie, & I'm (Belatedly) consulting an attorney. This by someone who shops 'till they drop when buying a used car, or a set of rims or a leaf blower. But R.E. deals are on a whole 'nother level, & most of us only do one every 10 years or so.

Man, it's a (snowy) Jungle out there. Now I have to go back to shoveling my driveway for the 3rd day in a row.....

lilengineerboy

Man, it's a (snowy) Jungle out there. Now I have to go back to shoveling my driveway for the 3rd day in a row.....

Oh man, if my neighbor didn't show up with humanga-snowblower I don't know what I would do. The Legacy earned its keep last night and today as we needed to make our way around Michigan. Having real tires, not driving like a [non-permissible content removed] and having AWD on a well maintained car is pretty much key to dealing with snow events like this.

stickguy

good luck, but if you got a signed contract, I doubt you have much leverage. Better hope they violate some term so you can void it, because usually the buyers have all the options about weaseling out.

Blame the real estate agent if the house was somehow totally mis priced. Not sure what a buyer could do other than make an offer.

stickguy

The local BMW dealer (that just built a new sales palace that I have been meaning to check out) sent a postcard yesterday. They are offering 2.9% + they will pay the first 2 payments on any 2004 CPO. Must want to clear them out since the '05s are piling up!

Of course I assume that is only if you but one at their inflated price. I guess the 2 months would be like getting an $8-900 discount.

Still might be worth wandering by!

michaellno

I believe that it's the first three payments, not two.

My BIL used this incentive when he bought his CPO '04 330i sedan a month or so ago. He paid something like $26K for it.

I was poking around on the BMW CPO web site and found an identical car here in Denver for $26.4K. The only difference between what my BIL bought and what's here in Denver is that his is an automatic, while the one in Denver is a stick.

Both are silver with black interior, performance package.

I have no idea how much BMW dealers are willing to negotiate on CPO cars.

kyfdx

That's a BMWFS program.. It doesn't cost the dealer anything extra.. So, bargain away..

stickguy

I'm pretty sure.

I floated it past the wife. She didn't say no, just that I don't really "need" one.

She thought it was a better idea to get an older car for my son, so he can learn on it and have it in June when he gets his license.

corvette

At our family's annual Christmas massacre, I got to see my cousin's new, loaded CTS. Didn't have time to drive or ride in it, but sat in it for a few minutes. Based on that plus the reviews I'm reading, it looks like a real contender in its segment, and is priced significantly less than a 335i.

roadburner

Still might be worth wandering by!

Unfortunately the BMWFS program doesn't apply to the 2004 M3; I took my wife's X3 to my dealer for an ATF and TC fluid change and they have a stunning Sterling/Imola CPO M3 parked in front of the showroom. It's hard enough to resist as it is... :P

qbrozen

I was looking at this today. I don't know if the inflated price is necessary. It seems to me BMWFS is paying the 2 payments, no? So why should the dealer care what kind of deal you cut.(?)

But how long is that 2.9% for? I read one post on another board that claims 2.9% for 48 months, 3.9% for 60 months, and 4.9% for 72 months. If that's true, that's pretty good. Heck, I wouldn't even be adverse to 72 months at that rate.

Local dealer shows an '04 330Ci coupe with sport, premium, automatic, and 37k miles for $26,995. Hmmmmmm..... very tempting. Or a similar sedan with, IIRC, 27k miles for $26k.

That would still be a bigger payment than I have now on my Accord, though.
not to mention all my negative equity.

michaellno

I think my sister told me they got 2.9% for 60 months, but that may not be accurate. They financed for 60 months, I think, and have a payment in the $400-500 range. I dunno, maybe they went 72 months.

I know my sister made a comment about giving the car to their now 10 year old son when he turned 16, so maybe it is 72 month financing. Of course, by that time, you've got a 10 year old BMW with probably 100K on it.

EDIT: just found a CPO 325i coupe - red with tan leather, manual, premium package, 31K miles - being offered for $22,500.

roadburner

Of course, by that time, you've got a 10 year old BMW with probably 100K on it.

Which in my experience means that it's good for another 100K.

michaellno

Which in my experience means that it's good for another 100K.

Really? How expensive are older BMW's to maintain?

I've never owned one, so have no first hand knowledge. But, I would have thought that any German car over 100K would cost some serious $$$ to keep in good shape.

If I can nurse the L300 along for a year or two, perhaps I may reward myself with a 1-series ... just priced out a 128i the way I want it, and it just crosses the $30K barrier.

Can you say "European Delivery"? I knew that you could.

roadburner

Really? How expensive are older BMW's to maintain?

I've never owned one, so have no first hand knowledge. But, I would have thought that any German car over 100K would cost some serious $$$ to keep in good shape.

Well, as I stated in another topic:
--------------------------------------------------------------------------------- -------------------------------------
I've owned BMWs since 1983- 8 in all, and I perform a lot of the minor service and repairs myself. My wife drives a 2004 X3 while I currently run a 1995 318ti Club Sport; I'm the original owner. At 12 years, and 112,000 miles my ti has needed the following non-scheduled maintenance:
O2 sensor(recall, replaced at a scheduled service)
both fuel sending units(warranty, replaced at a scheduled service)
alarm module(warranty, replaced at a scheduled service)
1 set of front brake pads(due to track use)
1 set pad/rotors front and rear
2 serpentine belts(replaced as a precaution)
2 idler pulleys
1 timing chain tensioner(replaced as a precaution)
3 sets of W or Z rated tires
1 battery(replaced at ten years, one month as a precaution)
1 brake light switch
1 thermostat
4 sets of wiper blades
5 exterior bulbs
The car has seen more than a few drivers schools and autocrosses and is driven in every kind of weather except ice and snow. It's a rare drive when I don't wind it to the redline at least three or more times. No other car I've owned comes close to the reliability of my Club Sport. As a matter of fact, my son and I drove it to the movie theater just last night. The paint still shines like new, the interior has no rips, cracks, or tears, and the overall structure of the car is still extremely solid- there are no squeaks or rattles whatsoever. Over the life of the car the monthly service/repair costs have averaged @$45 per month, including the 3 sets of tires mentioned above. This year my 3er cost $57 per month to run because it required an Inspection II(major) service, a coolant flush, a front end alignment and a thermostat. If you decide to buy a Bimmer I would strongly suggest that you join the BMW Car Club of America. You get a great monthly magazine as well as access to lots of information that will allow you to make informed decisions regarding maintenance and repairs.
--------------------------------------------------------------------------------- ----------------------------------------

I'll also note that I just had my local BMW dealer change the ATF and transfer case fluid on my wife's X3. The total cost was $207.

just priced out a 128i the way I want it, and it just crosses the $30K barrier.

Can you say "European Delivery"? I knew that you could.

Go for it! And don't forget, once you have been a BMW CCA member for over one year, you'll get a $500-$1000 loyalty rebate when you buy most new and CPO BMWs.I

akangl

Tuesday it was too cold to do much so we went into town, stopped by the Honda dealer to ask about the outside temp gauge on the Pilot. Appears it only goes to -22, that's kind of stupid and useless up here! Looked at a Tundra in the showroom while we were there, nice truck! Also wandered down and looked at a Scion TC, that's kind of a cool car, loved the glass roof.

Wednesday the temp dropped to -38, the Pilot wasn't amused but did ok. This morning it was -52, the Pilot really didn't see the reason I wanted it to start at 7:30 in the morning. Overall its doing fine, but really does need a winter front to help it keep the heat in the engine. Its started everytime I've asked it to, even this evening after only having its engine heaters plugged in for an hour........wasn't very happy about that.

Now if the weather would just warm up!

kyfdx

-52?!?!

Dang.. just cuddle up... Leave the poor Pilot alone.

mark156

Akangl, I don't think I would want to know if my thermometer goes below -22.... does it really matter??? LOL!

I honestly can't imagine what those cold temps would feel like. Or, even how a car would react in that temp. When you said the Pilot wasn't happy about starting in cold weather, does it take a couple of cranks to get it going or what?

Stay WARM!

Mark

roadburner

I honestly can't imagine what those cold temps would feel like. Or, even how a car would react in that temp.

I spent ten days in Akangl's neck of the woods on the 2000 Alcan Winter Rally. I found Alaska to be a beautiful state, but living there is quite another matter...
No offense, Akangl.