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Jeff_DML 08-08-2018 04:21 PM

Quote:

Originally Posted by rumatt (Post 534738)
And sales tax. Which is significant on more expensive cars. It completely ruins the "buy a car and try it out for a while" experience for me.

Say you buy a car for $100k. You bought at a good discount off msrp so you're able to sell it 2 years later for $80k, and you lost $20k. But in NY you also paid $8,800 in tax bumping the cost of ownership up to $29k. That's a 50% increase in cost of ownership. It's ridiculous.

California also has horrendous DMV fees nowadays to add to the pile

equ 08-08-2018 05:59 PM

Quote:

Originally Posted by rumatt (Post 534738)
And sales tax. Which is significant on more expensive cars. It completely ruins the "buy a car and try it out for a while" experience for me.

Say you buy a car for $100k. You bought at a good discount off msrp so you're able to sell it 2 years later for $80k, and you lost $20k. But in NY you also paid $8,800 in tax bumping the cost of ownership up to $29k. That's a 50% increase in cost of ownership. It's ridiculous.

Yup... NJ used to be 6%, then 7 for a long time, now back down to 6.625%, still too much. For me, with my frequent switches, this has been a big hit.

NY and NYC's taxes are so out of control.... 8.875% It adds like a 1$ to breakfast and more than a 1$ to most lunches.

zach 08-08-2018 06:07 PM

Yeah, I love used cars in general for all of the reasons listed.

rumatt 08-08-2018 08:34 PM

Yeah but used cars cans fill be expensive. The tax in the cayman was $4,999.

BTW, how is this not double taxation? And how the fuck did dealerships get a loophole that it doesn't count if you sell to them?

lemming 08-09-2018 09:13 AM

Quote:

Originally Posted by zach (Post 534751)
Yeah, I love used cars in general for all of the reasons listed.



The only time this burned me was a garage queen that progressed to dry rot of engine seals.

Ran fine. But I didn’t have the patience to go after all of the deteriorating seals and rubber bits.

No one else here is dumb enough to buy cars as old as I do so not a problem.

zach 08-09-2018 09:16 AM

Quote:

Originally Posted by lemming (Post 534770)
The only time this burned me was a garage queen that progressed to dry rot of engine seals.

Ran fine. But I didn’t have the patience to go after all of the deteriorating seals and rubber bits.

No one else here is dumb enough to buy cars as old as I do so not a problem.

I'm dumb enough, I just to have the time or a place to park them. :)

rumatt 08-09-2018 09:37 AM

Quote:

Originally Posted by zach (Post 534771)
I'm dumb enough, I just to have the time or a place to park them. :)

Same :lol:

clyde 08-09-2018 10:03 AM

Quote:

Originally Posted by rumatt (Post 534756)
Yeah but used cars cans fill be expensive. The tax in the cayman was $4,999.

BTW, how is this not double taxation? And how the fuck did dealerships get a loophole that it doesn't count if you sell to them?

Not sure which part you're pointing to as double taxation. :dunno:

Some states only charge buyers tax based on the difference between trade and new (to buyer) purchase. I think the reasoning is that they paid tax on the original vehicle with the argument that it should only apply at the dealer, as opposed to parlaying proceeds from a private sale to another vehicle purchase, is that the state can easily verify the transactions and their dollar amounts at dealerships and not in private sales. Definitely a benefit to the dealer, but how did they do it? Dealerships spend a lot on lobbying at the state and local level.

Theo 08-09-2018 03:31 PM

Quote:

Originally Posted by equ (Post 534750)
Yup... NJ used to be 6%, then 7 for a long time, now back down to 6.625%, still too much. For me, with my frequent switches, this has been a big hit.

NY and NYC's taxes are so out of control.... 8.875% It adds like a 1$ to breakfast and more than a 1$ to most lunches.

Try almost 10% where I live.

My 15yo M5 still costs over $300 to register.

Jeff_DML 08-09-2018 03:44 PM

Quote:

Originally Posted by Theo (Post 534813)
..
My 15yo M5 still costs over $300 to register.

my almost 20 year turbo is almost $400 for registration


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