[Soulstice]

Like some of the other people who've posted here , I got so aggravated with the wait for this car :brentil: that I put my money somewhere else. However, I haven't cancelled my order (Not EOP). My dealer called me on 7/29 and asked me to come in to finalize the order. Instead of cancelling the order I was considering buying the car and then reselling it. Anyone have any idea as to how easy that would be and/or any other input for managing this situation? :willy:

 

[MAKsys]

The biggest hit you'll take is the sales tax - you'll have to pay it and so will the guy you sell the car too (unless you have a sales license).

Don't know what the sales tax in WV is - but I'll bet its up there.

 

[Editguy]

The biggest hit you'll take is the sales tax - you'll have to pay it and so will the guy you sell the car too (unless you have a sales license).

Don't know what the sales tax in WV is - but I'll bet its up there.

Wouldn't that depend on the state? In Arizona there is no sales tax on private transactions.

 

[Karen1506]

I haven't cancelled my order (Not EOP). My dealer called me on 7/29 and asked me to come in to finalize the order.:willy:

He doesn't have to since it is not an EOP car. BUT, you would have to work out a deal with the dealership (which probably wouldn't work). And your margin of profit PROBABLY wouldn't be that much since First 1000 have been selling between $1100 and $6100 (the 10K fell through).

On the other hand, some states return sales tax if sold within x days.

My Opinion, I wouldn't do it.

 

[ntouched]

Once in hand, you can get about $6,000 more than what you paid. I did it with the Audi TT and Mini when they came out. The Solstice will get at least that amount or more. Just look at all the pre-orders. I live in California and would guarantee I'll get close to $8,000 more than what I paid (I have two on order). :yesnod:

 

[SD SOL]

True, but with all the tax and fees here in CA, you'd need to get that much to cover the costs and still get something back out of it.

 

[ntouched]

Taxes, about $1900, fees another $700......you do the math......$8,000 - $2,600 would still leave you $5,400 profit. This is not that difficult folks. I bought two Solstices' just to sell one (its soooooooo easy.....) :yesnod: The hype for this car is going to make it an easy sell.

 

[DaveK]

The biggest hit you'll take is the sales tax - you'll have to pay it and so will the guy you sell the car too (unless you have a sales license).

Don't know what the sales tax in WV is - but I'll bet its up there.

Send an email to the WV State Tax Department at [email protected] and they can let you know if you can submit a refund for sales tax. Some states such as Ohio allow you to submit for a refund if your intent was to re-sell the vehicle. It is a very subjective test based on the mileage put on the vehicle since the purchase and the length of time to sell the vehicle.

 

[Soulstice]

Send an email to the WV State Tax Department at [email protected] and they can let you know if you can submit a refund for sales tax. Some states such as Ohio allow you to submit for a refund if your intent was to re-sell the vehicle. It is a very subjective test based on the mileage put on the vehicle since the purchase and the length of time to sell the vehicle.

Man, that's helpful. I'll check it out! :yesnod:

 

[Soul Stiz]

Buying Solstices for fun and profit....

 

[nyca]

tell your dealer you plan on registering the car out of state, you will pay no sales tax. you won't be able to register the car, but you will get a 20 day temporary license plate (sometimes called an IN-TRANSIT plate) for it that you can use to drive it around, sell it within that period of time. You give the new owner the certificate of origin and a bill of sale, he walks into DMV and pays the sales tax and gets plates. that's how it works in NY at least.

 

[Windblade]

Send an email to the WV State Tax Department at [email protected] and they can let you know if you can submit a refund for sales tax. Some states such as Ohio allow you to submit for a refund if your intent was to re-sell the vehicle. It is a very subjective test based on the mileage put on the vehicle since the purchase and the length of time to sell the vehicle.

I just talked to an Ohio tax agent in Columbus. He disputes any submission for a refund. He says whenever a vehicle is sold in Ohio taxes must be paid, regardless of buyer's intent.

 

[DaveK]

I just talked to an Ohio tax agent in Columbus. He disputes any submission for a refund. He says whenever a vehicle is sold in Ohio taxes must be paid, regardless of buyer's intent.

For what it is worth, here is the content of the email I received from an agent from the State of Ohio Tax Department two weeks ago:

"The State of Ohio will allow you to apply for a refund for the sales tax paid on the vehicle. In your supporting documentation you would need to prove that the true purpose of buying the vehicle was for resell. When determining if a refund is allowable the State of Ohio does not have a specified number of days the vehicle needs to be sold within. One thing that is examined is the number of miles the vehicle has on it when you bought it and then how many when you sold it."

The key word in their statement is that the will "Allow" you to apply for a refund. :willy:

 

[danlbrau]

Like some of the other people who've posted here , I got so aggravated with the wait for this car :brentil: that I put my money somewhere else. However, I haven't cancelled my order (Not EOP). My dealer called me on 7/29 and asked me to come in to finalize the order. Instead of cancelling the order I was considering buying the car and then reselling it. Anyone have any idea as to how easy that would be and/or any other input for managing this situation? :willy:

Next time you wonder why the dealer is packing an extra few grand on the sticker, you won't have to look any further than in the mirror to see why...

 

[Slicer]

Buy it!
Drive it!

Then decide.

 

[cadillacricket]

Once in hand, you can get about $6,000 more than what you paid. I did it with the Audi TT and Mini when they came out. The Solstice will get at least that amount or more. Just look at all the pre-orders. I live in California and would guarantee I'll get close to $8,000 more than what I paid (I have two on order). :yesnod:

Next time i hear any of you compl;aining about how the market fell out on the solstice, i want you all to blame the guys buying ten of them and reselling them. You flood the market, and it will spoil it. Did you know that 90 percent of all the diamonds in the world are stockpiled, not sold. If they were to release the stocks of diamonds you could buy one for a penny a carat.... Think about that, and your new specialty car. I am a car salesman, and I would never sell a car for more than the manufacturer's suggested retail price.....

 

[Editguy]

Next time i hear any of you compl;aining about how the market fell out on the solstice, i want you all to blame the guys buying ten of them and reselling them. You flood the market, and it will spoil it. Did you know that 90 percent of all the diamonds in the world are stockpiled, not sold. If they were to release the stocks of diamonds you could buy one for a penny a carat.... Think about that, and your new specialty car. I am a car salesman, and I would never sell a car for more than the manufacturer's suggested retail price.....

:agree: I also think buyers should have been screened so that no one could buy more than one during this first year. I really don't understand people complaining about dealers with markups but thinking it's okay for individuals to do the gouging.

 

[spyderone]

:agree: I really don't understand people complaining about dealers with markups but thinking it's okay for individuals to do the gouging.

I was going to post the exact same thing!!! I really does amaze me that they bitch because a dealer wants to markup the car, but then they turn around and do it thereself. What's the difference?

 

[cadillacricket]

That's jsut it though, they say that it's ok to sell it that high, til they wanna buy one. I deal with people everyday that want retail for their trade in, but don't wanna pay mor e than wholesale for mine....