For Sale: '97 C2S - 15,000 miles
06-25-2011, 03:22 PM
#31
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If you are going to buy another car, it may make more sense to work out something with a dealer in light of the sales tax issue. I don't know how it works in Canada, but in the U.S. you are only going to pay sales tax on the difference. And, the sales tax difference on 30k+ versus 80k+ is non-trivial.
06-25-2011, 03:24 PM
#32
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Thanks No HTwo O, Whilhoit PM'd me that he would be interested in working out a deal and I will consider that if a private buyer doesn't come along in a couple of weeks. My color preference would be Arena Red over black and I'd like under 30,000 miles for those of you out there considering selling 
06-25-2011, 03:56 PM
#33
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TTKan, may also depend on State Laws in the USA. Buying from a dealership (% slaes tax by county) has one set of rules and buying private party (function of model year and total value) has another (Illinois). Buying private party, in my case, was about a $1,500 difference (savings) in sales tax.
06-26-2011, 03:05 PM
#34
Rennlist Member
TTKan,
I understand what you are saying. In Johnston County, KS the sales tax is now 8.75%. When I sell a car privately and then go buy another car later I get hit with sales tax on entire purchase price of the new vehicle. Dealer or otherwise.
One loop hole that a buddy did was found a buyer for his private sale. Worked out an agreement with the dealer of the car he was buying to handle the paperwork for the private sale for a $500 fee. The private buyer paid the dealer for my buddies car.
The private sale was his $52K Porsche. He replaced it with a $80K purchase. So he only paid sales tax on $38K.
$80K x 8.75% = $7,000. $38K x 8.75% = $3,325. $7,000 - $3,325 = $3675 less the $500 fee netted a $3,125 savings in sales tax.
I understand what you are saying. In Johnston County, KS the sales tax is now 8.75%. When I sell a car privately and then go buy another car later I get hit with sales tax on entire purchase price of the new vehicle. Dealer or otherwise.
One loop hole that a buddy did was found a buyer for his private sale. Worked out an agreement with the dealer of the car he was buying to handle the paperwork for the private sale for a $500 fee. The private buyer paid the dealer for my buddies car.
The private sale was his $52K Porsche. He replaced it with a $80K purchase. So he only paid sales tax on $38K.
$80K x 8.75% = $7,000. $38K x 8.75% = $3,325. $7,000 - $3,325 = $3675 less the $500 fee netted a $3,125 savings in sales tax.
06-26-2011, 03:41 PM
#35
Rennlist Member
TTKan,
I understand what you are saying. In Johnston County, KS the sales tax is now 8.75%. When I sell a car privately and then go buy another car later I get hit with sales tax on entire purchase price of the new vehicle. Dealer or otherwise.
One loop hole that a buddy did was found a buyer for his private sale. Worked out an agreement with the dealer of the car he was buying to handle the paperwork for the private sale for a $500 fee. The private buyer paid the dealer for my buddies car.
The private sale was his $52K Porsche. He replaced it with a $80K purchase. So he only paid sales tax on $38K.
$80K x 8.75% = $7,000. $38K x 8.75% = $3,325. $7,000 - $3,325 = $3675 less the $500 fee netted a $3,125 savings in sales tax.
I understand what you are saying. In Johnston County, KS the sales tax is now 8.75%. When I sell a car privately and then go buy another car later I get hit with sales tax on entire purchase price of the new vehicle. Dealer or otherwise.
One loop hole that a buddy did was found a buyer for his private sale. Worked out an agreement with the dealer of the car he was buying to handle the paperwork for the private sale for a $500 fee. The private buyer paid the dealer for my buddies car.
The private sale was his $52K Porsche. He replaced it with a $80K purchase. So he only paid sales tax on $38K.
$80K x 8.75% = $7,000. $38K x 8.75% = $3,325. $7,000 - $3,325 = $3675 less the $500 fee netted a $3,125 savings in sales tax.
Need to find a dealership that is comfortable with papering the trade.
Mark
06-26-2011, 04:06 PM
#36
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TTKan,
I understand what you are saying. In Johnston County, KS the sales tax is now 8.75%. When I sell a car privately and then go buy another car later I get hit with sales tax on entire purchase price of the new vehicle. Dealer or otherwise.
One loop hole that a buddy did was found a buyer for his private sale. Worked out an agreement with the dealer of the car he was buying to handle the paperwork for the private sale for a $500 fee. The private buyer paid the dealer for my buddies car.
The private sale was his $52K Porsche. He replaced it with a $80K purchase. So he only paid sales tax on $38K.
$80K x 8.75% = $7,000. $38K x 8.75% = $3,325. $7,000 - $3,325 = $3675 less the $500 fee netted a $3,125 savings in sales tax.
I understand what you are saying. In Johnston County, KS the sales tax is now 8.75%. When I sell a car privately and then go buy another car later I get hit with sales tax on entire purchase price of the new vehicle. Dealer or otherwise.
One loop hole that a buddy did was found a buyer for his private sale. Worked out an agreement with the dealer of the car he was buying to handle the paperwork for the private sale for a $500 fee. The private buyer paid the dealer for my buddies car.
The private sale was his $52K Porsche. He replaced it with a $80K purchase. So he only paid sales tax on $38K.
$80K x 8.75% = $7,000. $38K x 8.75% = $3,325. $7,000 - $3,325 = $3675 less the $500 fee netted a $3,125 savings in sales tax.
06-29-2011, 09:23 AM
#41
Rennlist Member
Thread Starter
Yes, it is still for sale. I sent you an email through the site with my home email address. Thanks, Mark
06-29-2011, 12:36 PM
#43
Rennlist Member
Thread Starter
Thanks! Here is a shot that a fellow Rennlister took this past weekend at our local GTG...
07-02-2011, 09:36 PM
#44
Rennlist Member
Thread Starter
Update: Didn't drive the car all week waiting for a couple of no-shows! Why do people say they are coming to see the car and then not even have the decency to call and cancel? Drives me nuts!!! Anyway, got 2 more offers of $50K in the last 3 days....that makes 3 $50k offers in 2 weeks. I thnk being in Toronto rather than the US is hurting more than I expected. So, $52K firm buys the car. Wire transfer only or certified check must clear before car is picked up. Sorry, but I can't be bothered with any third party services etc. PPI is welcome at local P-car independant that is well respected with 993's. Would really love for someone serious to come and see the car...it is gorgeous! Mileage is currently at 15,200 miles and will increase slightly as I am going to continue driving the car on alternate weekends (need to excercise the C2 also ) 
)
07-02-2011, 09:54 PM
#45
"Wire transfer only or certified check must clear before car is picked up. Sorry, but I can't be bothered with any third party services etc."
Be careful with certified check. It can "clear" right away, but days / week(s) later it could bounce once it goes through its final clearing process.
Good luck with your sale.
Be careful with certified check. It can "clear" right away, but days / week(s) later it could bounce once it goes through its final clearing process.
Good luck with your sale.
Last edited by amfp; 07-02-2011 at 10:21 PM.