WayneE

My guess is that he paid somewhere in the lower 70s for the GTS.

jaholmes

Short attention span or not, do you pay taxes on every purchase. That my issue with flipping cars is the tax man. Unless you can figure out how to drive with dealer plates.

John H

My thoughts exactly. In Ohio, you only pay taxes on the difference between the new car sale price and the trade in, but only if you buy a new one.

WayneE

MD is the same way. It's a huge tax savings on trade ins of higher value cars/trucks.

jaholmes

Hmm, I wonder what the tax rules are in IL. I guess if you trade-in high dollar for high dollar then it works. I have been trying to figure out how to buy a summer F-430 without paying the taxes.

mstams

TN is the same -- plus we don't have state income tax, so currently sales tax can be deducted.

mooty

LOL, in CA, you pay tax on the entire amount of the next car you purchase NOT just the difference in trade!!!

mooty

you can't use a dealer plate and always show zero profit. they will take your dealer plate away. my friend did it. no go.

i dont like the connotation of "flipping" cars. it implies a profit, like ppl flipping houses. i buy cars to test drive. the pepper gts i put very little miles on it. my RS saw 6000 mile the first month ;-) some times needs change. i replaced the GTS with a large truck.

ljugete

Mooty, that still makes no economic sense (unless you have some special connection with the CA DMV, have $$$$ burning in your pockets or are getting a hefty commission by some of the Car and Track like Magazines).

Slow Guy

Since when does buying any Porsche make economic sense? While I would not be happy about paying the 100% sales tax I'm envious of Mooty for being able to do so many long term test drives, I wish I was able to do that.

ltc

mooty

i only use my brain when i work and make money.
i turn it off when i buy cars.
i rarely make logical decisions in car purchased. i owned 11 GT3's, some of them i owned more than 2x, meaning i sold it to friend, bought it back, sold it again bought it back... all in less than 2 months. i hope my wife isn't reading this post....

yes, makes no sense. but it decompresses me from work. that's worth way more than the tax i have paid.
no, i am not happy about the tax i had to pay, but i dont want to get beat up by schwarzenneger.
i do wish i dont have such an addiction to cars. i could have sent my kids to school instead of selling them off on ebay.

mooty

since you asked....
400 mile round trip to thunderhill last weekend. i love it.
so much so, i may buy another one. dually seems more manly hahaha.
but man, took me 1/2 hour to park that thing into storage lot... embarrassing.

thx for all your help. and no LED issues LOL.

ltc

Nice to see a proper tow setup, especially here in the P!g pen.
Yes, a dually is more manly...although there are few things on this Earth sexier than a woman getting out of a F350CrewCab dually...but I digress.
Duallies take a bit more 'getting used to', since you're not used to having to think about rear wheels sticking out. Ask your local dealer/body shop how many are repaired after 'curb hopping'...

Also, I'm sure you've been told the trick when learning to backup with a trailer...place your hand at the bottom (6 oclock) position of the steering wheel and simply move your hand in the direction you want the trailer rear to go.
After a few hundred hours, it actually gets easier.

Of course there are no issues like "!", it's a properly designed tow vehicle.

Slow Guy

Learned that trick many, many years ago when I drove a wrecker. Works very well. It's also a lot easier the longer the trailer, those short jet ski type trailers are a real PITA, esp. when you can't see the trailer in the mirrors. Full size boat trailers are much easier.