05-25-2021, 10:27 PM | #67 |
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There's no taxes when selling. Only when you buy the next car. Some states, like Georgia, you only pay tax on the difference between your trade and the new car. So when you sell your car in a different transaction you lose that tax offset.
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05-26-2021, 09:02 AM | #68 | |
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05-26-2021, 06:01 PM | #69 | |
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Leasing companies operate differently. The only contractual obligation on a buyout figure is between you and them. They are not obligated to offer the same terms to a dealer. I’m in the middle and of a buyout (non BMw) where it “paid” to have me buyout my own lease and then sell to a dealer as opposed to the dealer buying out directly. Not sure how BMW Financial operates, but they have a disclaimer when you request your payoff that says something along the lines of…this is for you only, if you’re a dealer call this number. EDIT: I just called BMW Fin, and they said the dealer is quoted the same buyout, except no taxes. Last edited by serpentine; 05-26-2021 at 07:03 PM.. |
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05-27-2021, 10:11 AM | #70 |
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I'm replacing my X3MC with a new Cayenne GTS. Dealer is too far away to trade the car in. Phytonic Blue with all the options & 8200 miles on it. My local BMW dealer offered $59K. Carmax has offered $64K. Carvana must be part of the BMW guys - $59.6K. Driveway just offered $68K if I say it's in great shape & $67K if I say it isn't. The tires probably are the determining factor between good & great. It might be worth putting new tires on it to sell it.
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05-27-2021, 12:01 PM | #71 | |
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Driveway is picking up my X3M today. Check machine is "broken" can only do ACH transfer and on top of it they said 3-5 days to receive payment. |
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05-27-2021, 12:17 PM | #72 | ||
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05-27-2021, 12:53 PM | #73 |
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I'm having to drive it out of town, too. Closest dealer to us is about 1.5 hours away. I'm willing to schlep a little farther to get another $3K for it.
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05-27-2021, 02:12 PM | #74 |
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05-28-2021, 08:06 AM | #75 |
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my question is how the hell are you guys originally picking up X3M's with discounts in excess of $15K?!?
In Canada we are lucky to get $4K off the price... |
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05-28-2021, 08:12 AM | #76 |
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This was almost a year ago. There was a lot of supply early during COVID and people weren't spending money on stuff like this. So BMW had incentives of $6k+ and dealers were discounting heavily since they didn't want to get stuck paying interest/lot costs on a car that probably wouldn't sell for a while.
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05-28-2021, 08:53 AM | #77 | |
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Anyway 10+% off msrp before incentives was pretty common. |
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05-28-2021, 10:28 AM | #78 |
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Well it's official, Driveway picked up my 2020 X3M yesterday from my house, super easy. They did not have the ability to give me a check for my equity in my lease, they sent an ACH which I received today. Anyway I put $2500 down on my 2020 X3M, drive it fir 6 months sold it a made a net profit of $8,800.
My 2021 X3MC is being delivered to my house today. it was $80,400. I am putting down $8500 and the payment is $589 with tax. Plus I will get $500 back from CCA. Seems like a lateral move but I think I won all the way around. |
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05-28-2021, 11:56 AM | #79 | |
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05-28-2021, 12:28 PM | #80 | |
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Funny part was they never advertised it, but they matched another dealer who did advertise that discount on their left over 2020. |
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05-28-2021, 12:56 PM | #81 | |
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Edited - read too fast. Got it!
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05-28-2021, 01:25 PM | #82 | ||
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05-29-2021, 03:53 PM | #84 |
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X3MC
So Driveway was great to deal with and easy. I received my ACH payment the next day and took delivery of my X3MC.
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05-31-2021, 10:34 PM | #85 | |||
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06-02-2021, 08:55 AM | #86 | ||||
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06-06-2021, 07:20 PM | #87 | |
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