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Discussion Starter #1
I am unfortunately going to have to sell my car when it arrives. It is coming across the pond right now. I recently found out I'm facing anouther round of pay cuts at work and cannot afford to buy a new car. Here are the details:

New 2005 Elise
Saffron Yellow
Touring package
Sports package
Hardtop
Paint protection package

The VIN has been issued, and the car is enroute from England. Delivery date to Denver depends on how quickly the boat is unloaded, etc. This is the #8 car on the FOD list.

Being a capitalist, I'll accept the best offer I receive for the car. I'll post the best estimate for delivery date when I hear it's at the port.

Jeff Brauch
 

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2005 elise touring ardent red
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are you getting it for msrp? what is your total cost for it?>
 

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Discussion Starter #3
Yes, I'm paying MSRP. The clearbra package wasn't optional and will be $1000. I haven't seen the actual bill yet.

Jeff
 

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Hey Jeff, sorry it did not work out for you.

Good luck in selling it and in your job too.dedd
 

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does your dealer allow you to transfer your spot, or will you have to buy the car 1st and then sell?
just thinking about the double-tax issue.
can you find a company to lease the car to avoid the big tax hit, and then sell the car so the next buyer pays sales tax only once?
 

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Discussion Starter #7
Randy, thanks for the words of support, I appreciate that. I work in the airline industry, and we're in a fight for survival.

Neil, sales tax in my area is 3.7% for autos, IIRC.

I'm planning on leasing the car to avoid the double tax hit on a resale.

Slot transfers are not allowed by my dealer. (FOD)

Jeff
 

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When si the car due? I may be interested depending on availability and price, and can also convince FoD not to cause problems with the transfer.

PM me with details.

--Dan
 

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One more thought: you lease the car to avoid the double-tax, but the leasing company will pay the tax on the car. As such, whomever buys it then has to pay the leasing company for the price of the car, which, of course, includes tax. This applies to anyone who might be interested.

--Dan
 

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Discussion Starter #10
Dan

PM sent.

The tax issue on a lease is new to me. I've bought out leases early in the past and never had the tax issue raised. Perhaps it would be on a quick buyout. Anyone have any firsthand info on this??

Thanks,

Jeff
 

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Tripledigits said:
Dan

PM sent.

The tax issue on a lease is new to me. I've bought out leases early in the past and never had the tax issue raised. Perhaps it would be on a quick buyout. Anyone have any firsthand info on this??

Thanks,

Jeff
I believe it depends on the state. When I bought out a lease early a few years ago, the only time tax came up was when I went to register the car in VA (as I was the buyer in that case). Not sure if I would have avoided the tax if I had immediately sold the car to someone else (but I doubt it). Plus I was planning to keep the car for several more years.

One other note: During the lease, in most states the sales tax will only be based on your monthly lease payment.
 

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Tripledigits said:
The tax issue on a lease is new to me. I've bought out leases early in the past and never had the tax issue raised. Perhaps it would be on a quick buyout. Anyone have any firsthand info on this??
I know tax is included in each of your payments. Not sure about payoff, but I don't see how they wouldn't charge tax... it would be too obvious a loophole, and every scumbag in America would be manipulating it if it were there.

They'd just lease a 50k SUV, then buy it out and not pay sales tax, and depreciate 100% of its value. (Not anymore, though!) :D
 

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Tripledigits said:
Dan

PM sent.

The tax issue on a lease is new to me. I've bought out leases early in the past and never had the tax issue raised. Perhaps it would be on a quick buyout. Anyone have any firsthand info on this??

Thanks,

Jeff
In California, when the lease is bought out , the sales tax is paid(on the purchase price) to the DMV at the time that the following registration is due. Don't know if other states differ.
 

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Do some searches about your state laws, I think in some states you can retrieve your car's sale tax, if it's sold with very low milage and in some small number of days.

Go to google and search for car sales tax refund or something like that.

Edit: This is for arkansas, but I think most states have similar laws

http://www.arkansas.gov/dfa/taxes/taxcred/stc4suv.html
 

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Discussion Starter #17
Car is due in port on 11/8, should be in Denver about the third week of November.
 

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Discussion Starter #18
The car is still due in port in 2 days, should be 1-2 weeks to arrive in Denver.

Jeff
 
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