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The definition of insanity

gtman

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So, I saw a 2022 EX-L hatch listed online that had a ridiculous markup on it. They were pricing it at more than $10,000 over sticker. I chuckled to myself that no one would buy it. Well here's a screenshot of that very listing today...


11th Gen Honda Civic The definition of insanity Screenshot_20211207-174001-205


Yep. Some sucker bought it.
Sponsored

 

charleswrivers

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Yeah. I thought getting 25.2k for my 4 year old, 41k mile Si was insane. I’d love to know what they’re going to try to sell it for… 28k? 30k? They’ve got to turn a profit on it.
 


charleswrivers

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Yeah. I contemplated getting back in one of a couple old cars I wanted and was looking last night. The last thing I need is another 20+ year old car at the moment. Sure want one though. Things that should be $2500-5000 are generally $5k-10k so fun throw-away cars are kind of hard to come by.

I have managed to convince my wife to let me stick to older cars in the future so I can keep up my swapping. At 4 years, I owned the GenX longer than the 3 previous cars before it… none of those made it to 4. Gen 9 Si… Caddy DHS, RSX type S. All only made it about 3 years each. Still have to scratch an Audi/Volks itch eventually and have one once. Wouldn’t mind a Caddy again if I could find one that seems good. Maybe a 3 or 5 series Bimmer if I can find one for cheap enough that inspects well… though I expect it’ll give me some heartache. Other than a Caddy… all makes I’ve wanted to have and never had yet… but have test driven or ridden in that impressed me. The RSX was 8k. The Caddy 6k. None of my Z cars have ever exceeded 8k. Most of the 5 were well less. They were $1k, 1.3k, 4.5k, 7.5k, and 8k thinking back. All great, fun cars. I do like some of the new-car bells and whistles but going and buying old cars and keeping then for short spells I think has more appeal after back-to-back new Civics.

I do think she going to get herself something new in 2-4 years. That’d put the Odyssey at 10-12 years and probably 150-175k. I don’t think I’m allowed to do the timing belt again to push past 200k ?
 

wilbur_the_goose

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I saw a nice '22 Civic Hatchback Sport Touring locally. Called the dealer who quoted me MSRP + $3900. I'll pass.

My '16 Civic Coupe Touring is working just fine (although it's now worth almost what I paid for it 5.5 years ago!)

PS - I bought my 2018 CPO BMW 330i just before the Covid storm hit. Prices were really low, and I picked it up for $28K. My how things have changed!
 


wilbur_the_goose

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That's the key... selling. There's no advantage to trading your car in right now. They'll offer you a bigger than normal trade in value and just jack up the new car price to get their normal profit margin back.
The problem with selling a car yourself versus a trade is that, at least in Pennsylvania, you get killed with the 6% sales tax. If you trade, you only pay sales tax on the new car price - the trade in value. My trade would be worth about $20K, or an additional $1200 in sales tax.
 
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gtman

gtman

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The problem with selling a car yourself versus a trade is that, at least in Pennsylvania, you get killed with the 6% sales tax. If you trade, you only pay sales tax on the new car price - the trade in value. My trade would be worth about $20K, or an additional $1200 in sales tax.
I'm confused. By selling I'm saying (for example) you sell your car to CarMax or a dealer outright. They cut you a check for X amount of dollars. How is there sales tax when you aren't buying anything?? I can understand some sort of capital gains tax if you're selling it for more than you paid, but sales tax?
 
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wilbur_the_goose

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@gtman - when I sell a care outside of a trade deal, the buyer pays 100% of the sales tax.

If I buy a new car without a trade, I pay 6% sales tax on the total sale price. If I buy a new (or used) car with a trade, I only pay sales tax on the difference between purchase and trade. To me, it's a perfect example of the auto dealer lobby messing with the tax code to advantage themselves.
 

JimmEEE

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Yep. Some sucker bought it.
Hmmmm... :hmm:
Do we actually know whether whoever bought it actually paid that entire $10k+ dealer markup?

Maybe it was an opening tactic by the dealer so that buying it for only, say, $5k over MSRP would seem like a screaming deal.
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