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Old 08-08-2018, 04:21 PM   #41
Jeff_DML
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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
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Old 08-08-2018, 05:59 PM   #42
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Originally Posted by rumatt View Post
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.
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Old 08-08-2018, 06:07 PM   #43
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Yeah, I love used cars in general for all of the reasons listed.
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Old 08-08-2018, 08:34 PM   #44
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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?
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Old 08-09-2018, 09:13 AM   #45
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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 didnít 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.
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Old 08-09-2018, 09:16 AM   #46
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The only time this burned me was a garage queen that progressed to dry rot of engine seals.

Ran fine. But I didnít 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.
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Old 08-09-2018, 09:37 AM   #47
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I'm dumb enough, I just to have the time or a place to park them.
Same
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Old 08-09-2018, 10:03 AM   #48
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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.

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.
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Old 08-09-2018, 03:31 PM   #49
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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.
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Old 08-09-2018, 03:44 PM   #50
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..
My 15yo M5 still costs over $300 to register.
my almost 20 year turbo is almost $400 for registration
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