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That's a factor, too.
I was browsing JGCs recently & the dealer that my neighbors works for only has 5 'in stock'. More likely 2 in stock & 3 'in transit/ordered'.
New car deals around here have been phenomenal. Inventory isn't too bad either, especially if you can travel up to the DC area where there are a lot of volume dealers.
Used cars have gone up in value, for some weird reason. I'm seriously considering selling the R now to capitalize and just ride out the rest of the year without a car. We've already been told we won't be going back to the office this year, and I expect that to continue through Q1 of 2021, so I've got plenty of time to wait for something I really want.
A friend of mine works for a moderately sized dealership chain in the area and he said that the used car lot can't purchase new cars at auction because they're way too expensive. They've been making a killing on auctioning off all of their old cars though.
New car deals around here have been phenomenal. Inventory isn't too bad either, especially if you can travel up to the DC area where there are a lot of volume dealers.
Used cars have gone up in value, for some weird reason. I'm seriously considering selling the R now to capitalize and just ride out the rest of the year without a car. We've already been told we won't be going back to the office this year, and I expect that to continue through Q1 of 2021, so I've got plenty of time to wait for something I really want.
A friend of mine works for a moderately sized dealership chain in the area and he said that the used car lot can't purchase new cars at auction because they're way too expensive. They've been making a killing on auctioning off all of their old cars though.
If you do sell it, let me know...curious to know what the market is for them right now. I'd also like to capitalize as well if possible and maybe just lease something cheap, fun, and manual...good part is that I have another car that I'm not selling anytime soon. A 2.0T 6MT Accord may be fun for a couple years...
I am trying my best not to buy a new car right now because we are trying to buy our 2nd house. I'll probably just hold off on buying a car until then. Sucks and boring but it's not like I have time to go enjoy driving. Damn virus!
New car deals around here have been phenomenal. Inventory isn't too bad either, especially if you can travel up to the DC area where there are a lot of volume dealers.
Used cars have gone up in value, for some weird reason. I'm seriously considering selling the R now to capitalize and just ride out the rest of the year without a car. We've already been told we won't be going back to the office this year, and I expect that to continue through Q1 of 2021, so I've got plenty of time to wait for something I really want.
A friend of mine works for a moderately sized dealership chain in the area and he said that the used car lot can't purchase new cars at auction because they're way too expensive. They've been making a killing on auctioning off all of their old cars though.
Been watching a couple of former car salesmen/former car dealer YouTube vids and they all say they are seeing wholesale used cars going up in price at auctions. One guy has a contact with a bulk used car buyer for a dealer and he is used to buying 100 cars a week but is only doing 50 a week due to high auction prices.
Apparently the inside info is that dealers expect a huge shortage of new car inventory in August or so due to the covid factory shutdowns and so dealers are preparing to make up for that inventory shortage by snatching up used cars which is driving up prices on the back end and the front end.
Best to get the new car deal while inventory lasts....looks like it won't the fire sale for too long....
If you do sell it, let me know...curious to know what the market is for them right now. I'd also like to capitalize as well if possible and maybe just lease something cheap, fun, and manual...good part is that I have another car that I'm not selling anytime soon. A 2.0T 6MT Accord may be fun for a couple years...
Will do. I've seen comps and I've got a friend that's provided me with the black book numbers, so I have an idea of what they'd offer. The biggest question I have to answer is - do I trade it in on something or just sell outright. It'll be going back to stock in the next couple weeks, so hopefully it'll be good to go by the end of the month/beginning of August.
Will do. I've seen comps and I've got a friend that's provided me with the black book numbers, so I have an idea of what they'd offer. The biggest question I have to answer is - do I trade it in on something or just sell outright. It'll be going back to stock in the next couple weeks, so hopefully it'll be good to go by the end of the month/beginning of August.
If you don't mind me asking, what are you getting for comps? PM me if you want. Car is the same year as yours with 15500 on the clock and is stock (with pretoria wheels )
If you don't mind me asking, what are you getting for comps? PM me if you want. Car is the same year as yours with 15500 on the clock and is stock (with pretoria wheels )
I'm seeing manual 2018s with under 30k miles selling between $31k and $39k (lol). Most are in the $34k range. I have 215xx miles on mine. Black book values put it right around $29.5k in clean condition. I may be able to push for extra clean, which is $30.6k. This is the southeast region - ymmv.
Same. Even if I only get $30k for it, that's ~$10k for 27 months of ownership - or $370/mo (not including wear items, obviously). If I go private party I'm asking $33k for it.
Same. Even if I only get $30k for it, that's ~$10k for 27 months of ownership - or $370/mo (not including wear items, obviously). If I go private party I'm asking $33k for it.
I paid less for my DSG than you did for your manual? But you're right, that's really not bad compared to the bath you would have taken if you would have bought the S3 instead.
Originally Posted by Aman
^ Do you get tax advantages trading in vs. selling privately?
You do here if you buy from a dealer. It's a ~7% advantage on the tax which often makes it worthwhile for a car with this value.
Question: for tax....is it because with a dealer you're basically reducing that from the new car sale price vs for used car you have to report it as "income" and you have to pay the income tax on that PLUS new car sales tax?
Question: for tax....is it because with a dealer you're basically reducing that from the new car sale price vs for used car you have to report it as "income" and you have to pay the income tax on that PLUS new car sales tax?
Basically if you buy a $20k car, but trade in a car for $5k, you only pay sales tax on $15k.
I paid less for my DSG than you did for your manual? But you're right, that's really not bad compared to the bath you would have taken if you would have bought the S3 instead.
Or a GTI
I got mine as soon as the Rs were released to dealers, so they weren't really budging on price, but I paid sticker. They did buy out the lease on the GTI 8 months early though.
Question: for tax....is it because with a dealer you're basically reducing that from the new car sale price vs for used car you have to report it as "income" and you have to pay the income tax on that PLUS new car sales tax?
It's the first. You don't have to report selling the car as income unless you're selling for a profit. Because you're not purchasing a new car in the same transaction, you can't use the sale to lower the taxable purchase price. If you trade in to dealer, it's all one transaction and you get the tax advantage that gives you, in MN at least, a 7% benefit on the trade in value. Often times, that's enough to offset the gap between private sale plus the PITA of private sale and trading it in.
Originally Posted by civicdrivr
Or a GTI
I got mine as soon as the Rs were released to dealers, so they weren't really budging on price, but I paid sticker. They did buy out the lease on the GTI 8 months early though.
When did you get yours? I don't think I got mine that long after the 7.5's went to dealers, I got mine April 2018, though I did have to fly to Buffalo NY to get one lol. I paid $39k for my DSG model that had the MSRP of $42k.
I just realized the Civic Type R has a passenger capacity of only 4... no back middle. Not that I ever carry that many, but to me it's like having a Mustang with a hatch and some cargo space. (Since I'm comparison shopping.)
I just realized the Civic Type R has a passenger capacity of only 4... no back middle. Not that I ever carry that many, but to me it's like having a Mustang with a hatch and some cargo space. (Since I'm comparison shopping.)
CTR guys who want 3 seater in the back, just swap in the Civic Hatch Sports ones for very cheap. Straight swap and same fabric material.
And CTR rear leg room and hatch cargo volume is amazing. I put two big car seats in the back and my bigass 2 seater stroller in the hatch without any issues. The new Civic is surprisingly very big inside.
German wheel manufacturer BBS has reportedly filed for bankruptcy.
This is not the first time the company has been in a difficult financial situation. In 2007, BBS filed for bankruptcy and was soon acquired by a company called Punch International. In 2011, the company filed for bankruptcy yet again and as recently as 2015, South Korean company Nice Corp was the majority stakeholder in BBS.
In its bankruptcy filing in Germany, BBS cites falling demand for tuning products and the difficult automotive retail environment triggered by the coronavirus pandemic. BBS added that it has had to halt production of its wheels because of the pandemic, while also encountering supply issues.
Despite the bankruptcy filing, this doesn’t spell the end for the company. In fact, the bankruptcy in Germany is much like Chapter 11 bankruptcy in the U.S. and will allow the company to restructure its business.
“Media reports might have already spread the word that BBS GmbH was forced to file for insolvency at the district court in Rottweil at the beginning of this week,” the company said in a statement. “This was a necessary step to prevent an imminent insolvency within the coming months due to the sudden omission of confirmed payments.”
It remains to be seen how the bankruptcy will impact the company’s current plans, with BBS saying that “the supply of all our OE and AM customers with BBS wheels is secured”. The company also has a deal with NASCAR to supply single-lug wheels for the next-generation of cars to be used in the series.
BBS is far from the only company in the automotive space to feel the pinch of the coronavirus pandemic. Perhaps the most notable victim of the pandemic has been rental car giant Hertz which filed for bankruptcy in late May.
They'll likely be alright. They've filed twice before. BBS Motorsport & BBS Japan are unaffected, & BBS America says everything will continue as usual.
Some pretty attractive deals on new cars, right now.
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