Help me come up with a fair price

[BennyBronco69]

What if anything will out you be out in taxes, fees, etc both from your purchase and the sale to the new owner? Take all of that into account as well. I think 5k over MSRP is an extremely reasonable friend price. 10k as a friend of a friend price.

I am including the taxes I am will pay from purchase (6%) into the price pre-ADM. It will be a bit more than 3K. What I need to research is how much I will be taxed from the sell bc of profit.

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[The Memedalorian]

$5K is more than reasonable for a private party transaction.

PS LOL at "capital gains".

 

[Squatchn']

If this 2 DR Wildtrak was your build initially, why not sell your buddy the one you are driving right now, since it sounds like you "settled" for it because you were tired of waiting. Then buy your 2DR WT from the dealer and keep it.

Edit: I think I misunderstood. The vehicle you are driving now is not a Bronco. Just look past my post, lol.

 

[Hazard]

You could have lied to the dealer and said you have bad credit and that your “brother” will fully sign for it at the dealer. Straw purchases happen like that all the time.

Really wish I could simply have him come to the dealer and buy it from them at MSRP but the dealer already told me they wont allow it since they would mark it up

 

[EMBronco]

I see a lot of comments about generating a capital gains and having to pay taxes. In this scenario I believe that is correct because this transaction would meet the definition of an Investment (an asset acquired with the intent of generating an income or appreciation). However, if the scenario was different and someone took deliver of their Bronco 6 months ago and has now decided it's not the vehicle for them and sell at a profit, would they still need to claim it as a capital gain? What if they sell at a loss, do they get to claim that loss on their taxes?

I know plenty of people (including me) who have purchased an automobile and later sold at a loss, but I don't know anyone that tried to claim this as a capital loss on their taxes.

 

[pfbz]

I received my MY22 D90 last Tuesday.

What are your initial thoughts on the D90? What engine did you get? How long was your wait?

 

[Johnny Bronco CO]

I think your heart is in the right place, but I think I’d just back away from this one and let the dealer have it. Your intention of preventing the ADM game is like pissing on a forest fire. It wont make a bit of difference in the end, and you are creating a job you don’t need to try and prevent a single sale with an ADM.

 

[BennyBronco69]

What are your initial thoughts on the D90? What engine did you get? How long was your wait?

D90 P400

Ordered in late Sept 2021 (I think 9/28). Picked it up last Tuesday.

Ive had it for only 1 week but so far I love it. Love the exterior styling. Love the luxary interior and how PiviPro. AA and Alexa are flawless. Love the airbags. Its quick for the weight.
Gas wise I am a bad person to ask bc I have a heavy foot and most of my driving is city driving.

My only complaint so far is the lack of trunk space. I dont carry much other than my Pitty. I have to drop the back seats every time so his fat ass can fit comfortably. Again though, about same room as a 2dr Bronco.


We will see how I feel after a drive it a while since we all know the stigma with LR.

 

[BennyBronco69]

You could have lied to the dealer and said you have bad credit and that your “brother” will fully sign for it at the dealer. Straw purchases happen like that all the time.

My salesperson was my neighbor before I moved houses. He's seen my cars, house, and he knows the business I own. No way he does not rat me out (we were friendly but not friends).

 

[Hazard]

My salesperson was my neighbor before I moved houses. He's seen my cars, house, and he knows the business I own. No way he does not rat me out (we were friendly but not friends).

It’s not necessarily always because of a low score; very high Debt to income can prevent someone with a 750+ get an approval or even something as simple as too many open auto loans. If it works it works! Just a possible approach that doesn’t involve jumping through so many hoops.

 

[RedHotFuzz]

However, if the scenario was different and someone took deliver of their Bronco 6 months ago and has now decided it's not the vehicle for them and sell at a profit, would they still need to claim it as a capital gain?

Yes. (AFAIK)

What if they sell at a loss, do they get to claim that loss on their taxes?

No. (AFAIK)

Welcome to our utterly-screwed-up system of taxation.

 

[wanna1]

Are you getting your dad's Bronco at the same dealer? That would open up some possibilities!!

 

[BennyBronco69]

Are you getting your dad's Bronco at the same dealer? That would open up some possibilities!!

I am. What are you thinking?

 

[wanna1]

I am. What are you thinking?

Negotiate a better price for your dad's Bronco by telling the dealer he can keep yours. I'll be you can get at least invoice pricing for your dad's. And with no hassle other than getting the dealer to sign a sales agreement for the CO for your dad.

 

[Joemama]

don't forget you will owe sales tax which will be between 4 and 5k.

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