Chronic Car Buyers Anonymous (Archived)

breld

33 for the Supra
13 for the MINI JCW
10 for the Leaf
7 for the X3

Weeks that is.

nyccarguy

Paging @roadburner to the white courtesy phone. @roadburner to the white courtesy phone.

https://carsandbids.com/auctions/3BDJ5QQ4/2019-bmw-m2-competition?fbclid=IwAR1nD-_f87bQ8sVsOI3vkitdW_933DK6SXHsy0QJAuZSMjuldFEnGJ0_RkI

Michaell

nyccarguy said:

Paging @roadburner to the white courtesy phone. @roadburner to the white courtesy phone.

https://carsandbids.com/auctions/3BDJ5QQ4/2019-bmw-m2-competition?fbclid=IwAR1nD-_f87bQ8sVsOI3vkitdW_933DK6SXHsy0QJAuZSMjuldFEnGJ0_RkI

I pointed that out to @breld this morning. He groaned as it was a DCT.

fintail

I forget, was the C20 your choice or another labor of love from the family? My family had a few cool cars when I was younger that might be fun to have today, if they were pristine, but really, one old car is enough for me.

I got my first BMX about that long ago too - long gone though, I was really rough on bikes, a combination of neglectful maintenance and rough riding. I'm kind of the opposite with cars.

xwesx said:

My dad gave me his van in 1990 when I was 13 years old. So, even though I didn't legitimately start driving that thing until around the time I graduated from high school, I'm calling my start of ownership 30 (+) years for the Econoline because that's when I first pulled it into the shop and started tearing into it.

I'm at:

24 on the '69 C20
14 on the '76 F250
4 each for the Q7 and Forester
1/6 Crosstrek

Now let's see.... 20 years for the 3-wheeler (and another 1.5 for the second one), 2.3 for the FLX ebike, and 37 for my little BMX bike, plus a bunch of years for various other instruments of transport, but I can't bring myself to continue this @graphicguy -like ruse.

breld

Michaell said:

nyccarguy said:

Paging @roadburner to the white courtesy phone. @roadburner to the white courtesy phone.

https://carsandbids.com/auctions/3BDJ5QQ4/2019-bmw-m2-competition?fbclid=IwAR1nD-_f87bQ8sVsOI3vkitdW_933DK6SXHsy0QJAuZSMjuldFEnGJ0_RkI

I pointed that out to @breld this morning. He groaned as it was a DCT.

And I’m not opposed to the DCT on an M2 Comp. But given I already have the Supra, it’s not motivating enough to make the move. But I do like that Sunset Orange.

sda

I still have my orange Schwinn Varsity that I bought in February 1974. It is still in great condition though it could use new tires. When spring rolls around I plan to give it a go over. I also have a nice Diamondback in dark navy blue that I need to maintenance and then get my sorry tail out riding.

stickguy

oldfarmer50 said:

stickguy said:

oldfarmer50 said:

stickguy said:

my son's lease ends around Christmas. I get texts about one car or another every few days. Today's diversion was a LR Evoque. Not sure that one is going to pan out.

With the cars he’s interested in he must figure you’ll be good at fixing them.

one of his concerns is the reputation of the LR dealer in Albany. That would have been a lease most likely, or a not very old CPO. But under warranty. There is nothing I could do for him on one of those, even if I wasn't 4 hours away!

They also sell Jaguar at that store. Kind of snooty staff, at least when you pull up in a rental.

my BIL that lives up there has a Jag. I seem to recall he has not been happy with that dealer at times. And had some extended loaner car stretches. I know he bought his down in Connecticut.

roadburner

nyccarguy said:

Paging @roadburner to the white courtesy phone. @roadburner to the white courtesy phone.

https://carsandbids.com/auctions/3BDJ5QQ4/2019-bmw-m2-competition?fbclid=IwAR1nD-_f87bQ8sVsOI3vkitdW_933DK6SXHsy0QJAuZSMjuldFEnGJ0_RkI

That is my favorite color.

stickguy

28firefighter said:

This is the exact spec I was looking for when I was GTI hunting.

https://carsandbids.com/auctions/9A4qAb8j/2019-volkswagen-golf-gti-se

love that color on the GTI (also like the M2 Orange!) Too bad the SE doesn't have the plaid seats though.

stickguy

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

xwesx

fintail said:

I forget, was the C20 your choice or another labor of love from the family? My family had a few cool cars when I was younger that might be fun to have today, if they were pristine, but really, one old car is enough for me.

I got my first BMX about that long ago too - long gone though, I was really rough on bikes, a combination of neglectful maintenance and rough riding. I'm kind of the opposite with cars.

It was somewhat both...

I was doing landscaping during the summer months while in college, and I mentioned to my grandparents that I really needed to get a pickup. My grandmother pointed me down the street to a long-time friend, and talked about how they had this beautiful pickup that they never used, and was just sitting in the yard "for years now." She thought her friend might be willing to sell it for cheap, and that there was "nothing wrong with it... it's practically new!"

Well, turns out it was "practically new" in terms of use, but after sitting in a "yard" for 23 years, it had a literal forest growing up around it, you couldn't tell what color it was for all the lichens and moss and grass growing on it, etc. But, I was able to buy it for $500, and it sure cleaned up nice. I'll have to see if I can scan some of the photos I took of it when it was first cleaned up back in 1997. It really did look practically new, for a 30-year-old truck with 28,000 miles...

Surprisingly, it was only an afternoon of work to get it running and another full day to get it cleaned up. Of course, that was after a week's worth of evenings and a full weekend prepping it to extract from the "yard" where it lay entombed.

xwesx

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

Yeah, just keep her name on the title. You could probably even add yours to it for simplicity of insurance (if an issue), and that shouldn't be considered a sale since her name is still there.

nyccarguy

Couple of cool sightings today driving home from my son’s 1st away hockey game of 2021. 1st was a Red (Guards Red I assume) 2019+ Macan S. It was drop dead gorgeous.

Out of the corner of my eye, I saw parked in a rest area what appeared to be a late model 328 wagon in what looked like Dakar Yellow with M Sport Package.

stickguy

xwesx said:

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

Yeah, just keep her name on the title. You could probably even add yours to it for simplicity of insurance (if an issue), and that shouldn't be considered a sale since her name is still there.

not sure if NJ will let her add another name onto the title, but I assume you are correct that I would have to be on it in order to put on my insurance policy. A question for my agent too I guess!

oldfarmer50

nyccarguy said:

Paging @roadburner to the white courtesy phone. @roadburner to the white courtesy phone.

https://carsandbids.com/auctions/3BDJ5QQ4/2019-bmw-m2-competition?fbclid=IwAR1nD-_f87bQ8sVsOI3vkitdW_933DK6SXHsy0QJAuZSMjuldFEnGJ0_RkI

I like everything about that car. What did it retail for when new?

I know there are a few of you guys that would dump a car after 7600 miles but I have to wonder why the owner is selling especially since some of those miles were put on at the dealer.

oldfarmer50

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

Check the rules on gift taxes, I think you can give a lot more than an average car is worth without paying tax. Every car that was ever transferred in my family was listed as a gift.

stickguy

last I recall seeing gifts were 10K/year. Could have gone up by now. But could probably make it work if we want to deal with it.

corvette

stickguy said:

xwesx said:

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

Yeah, just keep her name on the title. You could probably even add yours to it for simplicity of insurance (if an issue), and that shouldn't be considered a sale since her name is still there.

not sure if NJ will let her add another name onto the title, but I assume you are correct that I would have to be on it in order to put on my insurance policy. A question for my agent too I guess!

These issues will probably vary by state and by insurance carrier, but you might be able to be listed as a primary driver on her car without being an owner... As to the other issue, the current federal gift tax exclusion appears to be $15,000.

roadburner

oldfarmer50 said:

nyccarguy said:

Paging @roadburner to the white courtesy phone. @roadburner to the white courtesy phone.

https://carsandbids.com/auctions/3BDJ5QQ4/2019-bmw-m2-competition?fbclid=IwAR1nD-_f87bQ8sVsOI3vkitdW_933DK6SXHsy0QJAuZSMjuldFEnGJ0_RkI

I like everything about that car. What did it retail for when new?

I know there are a few of you guys that would dump a car after 7600 miles but I have to wonder why the owner is selling especially since some of those miles were put on at the dealer.

It cost around $67,000. The M2 has a firmer ride than a M240i, and it’s more track focused- it’s somewhat akin to the difference between a GT350 and a Mustang GT Performance Package.
Some poseurs decide that they are too uncomfortable to wear.

stickguy

well, if the capabilities of the regular model are probably not being used up 99% of the time, it certainly makes sense to me to go with the model that doesn't beat you up on a daily basis. If you happen to spend most of your time on the track, could come to a different decision.

That car would never survive down here. Right now the roads are so crappy it is impossible to miss all the nasty potholes unless you stay on your driveway. Super skinny sidewalls and expensive wheels are going to spend a lot of time on a flatbed. A Raptor looks more appealing every day.

stickguy

corvette said:

stickguy said:

xwesx said:

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

Yeah, just keep her name on the title. You could probably even add yours to it for simplicity of insurance (if an issue), and that shouldn't be considered a sale since her name is still there.

not sure if NJ will let her add another name onto the title, but I assume you are correct that I would have to be on it in order to put on my insurance policy. A question for my agent too I guess!

These issues will probably vary by state and by insurance carrier, but you might be able to be listed as a primary driver on her car without being an owner... As to the other issue, the current federal gift tax exclusion appears to be $15,000.

thanks. I am going to call my insurance agent Monday and see what they say.

roadburner

stickguy said:

well, if the capabilities of the regular model are probably not being used up 99% of the time, it certainly makes sense to me to go with the model that doesn't beat you up on a daily basis. If you happen to spend most of your time on the track, could come to a different decision.

That car would never survive down here. Right now the roads are so crappy it is impossible to miss all the nasty potholes unless you stay on your driveway. Super skinny sidewalls and expensive wheels are going to spend a lot of time on a flatbed. A Raptor looks more appealing every day.

What gets me are the dimwits who test drive a car, buy it, and THEN complain about issues that would be evident on the shortest drive- just like the poor fool on the trade in value topic who was trading in a Wrangler after three months because it was noisy on the highway, had little cargo space, and had a top that took too long to put up or down.

ab348

roadburner said:

stickguy said:

well, if the capabilities of the regular model are probably not being used up 99% of the time, it certainly makes sense to me to go with the model that doesn't beat you up on a daily basis. If you happen to spend most of your time on the track, could come to a different decision.

That car would never survive down here. Right now the roads are so crappy it is impossible to miss all the nasty potholes unless you stay on your driveway. Super skinny sidewalls and expensive wheels are going to spend a lot of time on a flatbed. A Raptor looks more appealing every day.

What gets me are the dimwits who test drive a car, buy it, and THEN complain about issues that would be evident on the shortest drive- just like the poor fool on the trade in value topic who was trading in a Wrangler after three months because it was noisy on the highway, had little cargo space, and had a top that took too long to put up or down.

The large number of late-model, low mileage Wranglers on the used lots attests to that being a common situation. Daily driving them is not for the faint of heart. The good thing is that they seem to hold value quite well.

roadburner

ab348 said:

roadburner said:

stickguy said:

well, if the capabilities of the regular model are probably not being used up 99% of the time, it certainly makes sense to me to go with the model that doesn't beat you up on a daily basis. If you happen to spend most of your time on the track, could come to a different decision.

That car would never survive down here. Right now the roads are so crappy it is impossible to miss all the nasty potholes unless you stay on your driveway. Super skinny sidewalls and expensive wheels are going to spend a lot of time on a flatbed. A Raptor looks more appealing every day.

What gets me are the dimwits who test drive a car, buy it, and THEN complain about issues that would be evident on the shortest drive- just like the poor fool on the trade in value topic who was trading in a Wrangler after three months because it was noisy on the highway, had little cargo space, and had a top that took too long to put up or down.

The large number of late-model, low mileage Wranglers on the used lots attests to that being a common situation. Daily driving them is not for the faint of heart. The good thing is that they seem to hold value quite well.

When I bought my Wrangler Sahara in 2001 I fully intended to sell it after the election- but my wife, son and I all liked it so much I sold our Pathfinder SE instead.

kyfdx

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

There is no actual gift tax. It just reduces the tax-free portion of the estate, upon death. Also, if it's under $14K in a year, there is no tax. So, she can gift you the car. For IRS purposes, you can stipulate that she has transferred a 50% interest last year, and the other 50% this year. Of course, since it's under the limit, you can just write a document and have her sign it, since there is no actual paperwork to be filed (since you would be under the limit)

So, just tell NJ she is giving you the car. Easy peasy.

breld

Regarding M240is vs M2s, I could go for something like this....

https://www.cars.com/vehicledetail/detail/838685347/overview/

The struggle I have is this M240i is like $4k lower than the M2 I looked at Friday. Same year, albeit the M240i has half the miles.

The $4k seems worth it all day long for the M2.

oldfarmer50

roadburner said:

stickguy said:

well, if the capabilities of the regular model are probably not being used up 99% of the time, it certainly makes sense to me to go with the model that doesn't beat you up on a daily basis. If you happen to spend most of your time on the track, could come to a different decision.

That car would never survive down here. Right now the roads are so crappy it is impossible to miss all the nasty potholes unless you stay on your driveway. Super skinny sidewalls and expensive wheels are going to spend a lot of time on a flatbed. A Raptor looks more appealing every day.

What gets me are the dimwits who test drive a car, buy it, and THEN complain about issues that would be evident on the shortest drive- just like the poor fool on the trade in value topic who was trading in a Wrangler after three months because it was noisy on the highway, had little cargo space, and had a top that took too long to put up or down.

I think some people get so emotionally fixated on a car they ignore limitations. Then they realize after that a noisey track car isn’t what they really wanted.

pensfan83

breld said:

Regarding M240is vs M2s, I could go for something like this....

https://www.cars.com/vehicledetail/detail/838685347/overview/

The struggle I have is this M240i is like $4k lower than the M2 I looked at Friday. Same year, albeit the M240i has half the miles.

The $4k seems worth it all day long for the M2.

I'd be happy with that M240i.

Michaell

pensfan83 said:

breld said:

Regarding M240is vs M2s, I could go for something like this....

https://www.cars.com/vehicledetail/detail/838685347/overview/

The struggle I have is this M240i is like $4k lower than the M2 I looked at Friday. Same year, albeit the M240i has half the miles.

The $4k seems worth it all day long for the M2.

I'd be happy with that M240i.

Ditto. M2 would probably ride too rough for my tastes.

roadburner

breld said:

Regarding M240is vs M2s, I could go for something like this....

https://www.cars.com/vehicledetail/detail/838685347/overview/

The struggle I have is this M240i is like $4k lower than the M2 I looked at Friday. Same year, albeit the M240i has half the miles.

The $4k seems worth it all day long for the M2.

I guess my thinking is skewed; I don’t think a 2018 M2 is worth $4k more, but I DO think a manual M2 Comp is worth $10k-$15k more.
But that’s just me...

stickguy

Lovely 240. running out of warranty soon though. I normally would worry about it coming out of the upstate NY salt and rust belt, but reading the carfax, it looks like it probably hibernated in the winter. Pretty common up there for people with fancy toys that are lousy in the snow (like OldFarmer and his Mustang).

stickguy

oldfarmer50 said:

roadburner said:

stickguy said:

well, if the capabilities of the regular model are probably not being used up 99% of the time, it certainly makes sense to me to go with the model that doesn't beat you up on a daily basis. If you happen to spend most of your time on the track, could come to a different decision.

That car would never survive down here. Right now the roads are so crappy it is impossible to miss all the nasty potholes unless you stay on your driveway. Super skinny sidewalls and expensive wheels are going to spend a lot of time on a flatbed. A Raptor looks more appealing every day.

What gets me are the dimwits who test drive a car, buy it, and THEN complain about issues that would be evident on the shortest drive- just like the poor fool on the trade in value topic who was trading in a Wrangler after three months because it was noisy on the highway, had little cargo space, and had a top that took too long to put up or down.

I think some people get so emotionally fixated on a car they ignore limitations. Then they realize after that a noisey track car isn’t what they really wanted.

Toys always seem to get flipped quick. Some people just have the money to do it, and move on to the next fun thing.

Also some number of people that neglected to check with "the boss" first and lived to regret it.

stickguy

kyfdx said:

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

There is no actual gift tax. It just reduces the tax-free portion of the estate, upon death. Also, if it's under $14K in a year, there is no tax. So, she can gift you the car. For IRS purposes, you can stipulate that she has transferred a 50% interest last year, and the other 50% this year. Of course, since it's under the limit, you can just write a document and have her sign it, since there is no actual paperwork to be filed (since you would be under the limit)

So, just tell NJ she is giving you the car. Easy peasy.

not sure if I followed. I know that over a certain amount gifted in a year the recipient pays income tax (assuming of course they bother to disclose). But the car would be under that cap anyway. So maybe I will just take it over to make it official and do it that way. Maybe at year end, if my son wants it, can just gift it again, if NY works the same way!

ab348

Does NJ tax personal property annually the way most places do with real property?

stickguy

just the house. About the only thing they don't tax is personal property like cars. Our real estate taxes are outrageous which more than offsets it.

kyfdx

stickguy said:

kyfdx said:

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

There is no actual gift tax. It just reduces the tax-free portion of the estate, upon death. Also, if it's under $14K in a year, there is no tax. So, she can gift you the car. For IRS purposes, you can stipulate that she has transferred a 50% interest last year, and the other 50% this year. Of course, since it's under the limit, you can just write a document and have her sign it, since there is no actual paperwork to be filed (since you would be under the limit)

So, just tell NJ she is giving you the car. Easy peasy.

not sure if I followed. I know that over a certain amount gifted in a year the recipient pays income tax (assuming of course they bother to disclose). But the car would be under that cap anyway. So maybe I will just take it over to make it official and do it that way. Maybe at year end, if my son wants it, can just gift it again, if NY works the same way!

The recipient never pays gift tax. The exclusion amount for 2021 is $15K. You can give any person up to $15K, with no gift tax. If she gave the car to you AND your wife, and the car is worth $20K, that would be $10K each, so under the limit. Even then, your daughter would only be giving up a portion of her lifetime exclusion. There would be no current gift tax.

Also, no one is tracking/watching this. If you were moving large amounts of cash, then maybe. She can give you the car to avoid NJ sales tax, and then forget about it.

breld

roadburner said:

breld said:

Regarding M240is vs M2s, I could go for something like this....

https://www.cars.com/vehicledetail/detail/838685347/overview/

The struggle I have is this M240i is like $4k lower than the M2 I looked at Friday. Same year, albeit the M240i has half the miles.

The $4k seems worth it all day long for the M2.

I guess my thinking is skewed; I don’t think a 2018 M2 is worth $4k more, but I DO think a manual M2 Comp is worth $10k-$15k more.
But that’s just me...

Your perspective is interesting regarding the M2 vs M240i...is that partially due to getting into the B58 on the M240i versus the N55 in the M2?

In any case, you have me thinking more of something like that M240i.

But I’m with you on the Comp. I’d rather pay, let’s say, $52-53k for a used 2019 than $45k for the 2018 M2.

tjc78

stickguy said:

just the house. About the only thing they don't tax is personal property like cars. Our real estate taxes are outrageous which more than offsets it.

If NJ starts taxing cars the way some other states do, wife and I will be driving a couple of old Panthers that are practically worthless.

explorerx4

I stopped keeping track for vehicle property taxes around the time the 10K property tax limit went into effect.
House already has that covered.
Back to 2017, 2016 Lincoln MKC $802, 2014 F-150 $516, 1991 Mustang $60.

28firefighter

Sales tax in my part of WA is 10.3% with an additional .3% addition for vehicle purchases/leasing.

That’s in addition to the western Washington RTA tax. 1.1% of the vehicle’s value every year at registration.

On the upside, no state income tax.

qbrozen

explorerx4 said:

I stopped keeping track for vehicle property taxes around the time the 10K property tax limit went into effect.
House already has that covered.
Back to 2017, 2016 Lincoln MKC $802, 2014 F-150 $516, 1991 Mustang $60.

$10k would be ... wow. That would save me A LOT!

explorerx4

@qbrozen,
I guess I should rephrase it. 10K federal property tax write off limit.

oldfarmer50

stickguy said:

kyfdx said:

stickguy said:

updated plan with the Jetta. Technically it qualifies as a sale, even in the family, so they will want sales tax. Unless you document it as a gift (and then technically needs to be reported to the IRS). So what we might just do, especially if it will move to her brother at the end of the year, is just keep it in her name but I will pay the insurance. Will still shop it around to see if can get a good offer on it. But we shall see. Won't be any rush to do something with it.

There is no actual gift tax. It just reduces the tax-free portion of the estate, upon death. Also, if it's under $14K in a year, there is no tax. So, she can gift you the car. For IRS purposes, you can stipulate that she has transferred a 50% interest last year, and the other 50% this year. Of course, since it's under the limit, you can just write a document and have her sign it, since there is no actual paperwork to be filed (since you would be under the limit)

So, just tell NJ she is giving you the car. Easy peasy.

not sure if I followed. I know that over a certain amount gifted in a year the recipient pays income tax (assuming of course they bother to disclose). But the car would be under that cap anyway. So maybe I will just take it over to make it official and do it that way. Maybe at year end, if my son wants it, can just gift it again, if NY works the same way!

Yes it does. Just complete the sales tax form and check ‘gift’.

roadburner

breld said:

roadburner said:

breld said:

Regarding M240is vs M2s, I could go for something like this....

https://www.cars.com/vehicledetail/detail/838685347/overview/

The struggle I have is this M240i is like $4k lower than the M2 I looked at Friday. Same year, albeit the M240i has half the miles.

The $4k seems worth it all day long for the M2.

I guess my thinking is skewed; I don’t think a 2018 M2 is worth $4k more, but I DO think a manual M2 Comp is worth $10k-$15k more.
But that’s just me...

Your perspective is interesting regarding the M2 vs M240i...is that partially due to getting into the B58 on the M240i versus the N55 in the M2?

In any case, you have me thinking more of something like that M240i.

But I’m with you on the Comp. I’d rather pay, let’s say, $52-53k for a used 2019 than $45k for the 2018 M2.

Yes, the N55 is a great motor but the B58 is even better. Throw a CarBahn tune on it and you’ll have 406 warranted hp for $1,299.

kyfdx

explorerx4 said:

@qbrozen,
I guess I should rephrase it. 10K federal property tax write off limit.

It's actually $10K limit for all state and local taxes, including income tax. No way I can come close to itemizing, any more.

explorerx4

@kyfdx,
I have an accountant do my taxes, so I know only that there is a 10K limit which is met by my house property tax.
Was able to itemize last year, not sure about this year.
We have a lot of charitable contributions(don't declare any cash donations).

kyfdx

explorerx4 said:

@kyfdx,
I have an accountant do my taxes, so I know only that there is a 10K limit which is met by my house property tax.
Was able to itemize last year, not sure about this year.
We have a lot of charitable contributions(don't declare any cash donations).

We don't have any mortgage debt, either.. so, there is that.

roadburner

I think we've itemized deductions every year since we've been married. For us it's 100% real/personal property taxes and charitable contributions. We switched to an accountant about six years ago; it's not cheap but it's a lot less hassle.

28firefighter

I use TurboTax. We definitely itemize between mortgage interest, property tax, and charitable donations.

stickguy

if you don't have charitable donations that are large it is a lot harder. I think on mine, the first year we came out quite a bit under the standard. But the year before, our itemized (before the IRS slashed that) was about equal to the itemized.

State taxes still add up but the 10K cap cut a whole bunch out since our property taxes were well above that, plus interest paid. Thankfully that keeps going down (the interest, not the property taxes).

I really need to move out of this state.