100% of exotic car write-off?

Buy at wholesale or below and sell at retail.

 

I have done this with multiple Nsx's, Prowlers, Vipers, Ferrari.

 

I just picked up a 99' Ferrari 360 for $54k with 14k on it, all service done, perfect condition, I could probably drive this car for 4-5 years and break even or make a few bucks.

 

Just bought a 99' Prowler for 19k last fall with 9k miles on it, perfect condition.. could probably drive that for the next 10 years and not lose a dime when I sell it.

 

I have even bought a vehicle for my business from a dealership, drove it for over a 100k more miles over 3 years and sold it for more then I originally paid. - this was a regular pick up tho

 

If I'm not getting a steal on the car I just won't buy it

 

Sounds like you should probably stick to those types of cars to "flip" per say. Exotic ownership is not cheap, especially when you factor in maintenance.

remember that just because a car depreciates, doesnt mean that the parts for it will depreciate as well.

i bought a 2002 911 turbo in 2008 for 58k plus taxes etc etc.

as of now, i put in about $45k out of pocket in maintenance , tires, mods etc etc

Buy at wholesale or below and sell at retail.

 

I have done this with multiple Nsx's, Prowlers, Vipers, Ferrari.

 

I just picked up a 99' Ferrari 360 for $54k with 14k on it, all service done, perfect condition, I could probably drive this car for 4-5 years and break even or make a few bucks.

 

Just bought a 99' Prowler for 19k last fall with 9k miles on it, perfect condition.. could probably drive that for the next 10 years and not lose a dime when I sell it.

 

I have even bought a vehicle for my business from a dealership, drove it for over a 100k more miles over 3 years and sold it for more then I originally paid. - this was a regular pick up tho

 

If I'm not getting a steal on the car I just won't buy it

 

Mike, you won't break even on the F Car with cost of ownership involved. You will be due for a belt service in three years. If they find nothing else other than the belts (which is pretty much impossible) you will be down for 3500-4k. Add in tires (as the ones you are currently rolling on will either be worn out or too old and dry rotted when you go to sell) to the tune of 1500-2k. Add in two regular services to keep the ownership and service history compete to the tune of 3-5k. I would also allot for another 2k over that period for miscellaneous things. As for pricing, you bought that car at about the going rate or a little south of that number. With the price of 430 coupes adjusting, you may or may not have hedged properly. I hope that you are right, it doesn't help anyone if you are wrong.

 

I think you have missed it to the tune of 10-12k over those 4 years if everything goes perfectly. I have to think thought that the market for the early model 360 is going to suffer when 430 pricing adjusts. Remember, they made that car for 6 years and the newer ones offer some upgrades to the '99, especially with reference to F-1 system. You have been buying cars in the past that have a very easy point of entry price wise as well as very very limited service costs of ownership. You have entered a new realm of ass pounding in the service department, especially in the Ferrari line. I hope that along with the title the previous owner passed you his half full bottle of KY and the donkey sized dildo he used to keep himself stretched out to ease the pain of reentry, you could possibly need it. I have also seen several people be very lucky, but then you also see the guys that loose F-1 systems to the tune of 15-20k. Maybe yours is a six speed though, I don't know.

 

Good luck with the car, you will certainly enjoy driving it. I just don't think that you are going to pull the coup that you think you are 4-5 years down the road. Also, as in most states, if you title the car in your name or your business, you will only be able to facilitate 3-5 sales per year before the state will require a dealer license. And this isn't 5-10 years ago when they could not keep track as they didn't have the computer capability. They will know and likely send you a "friendly" letter in the mail. Good luck with the purchase and sale. I am rooting for you, believe me. As I said previously, it doesn't help me or anyone else if you are wrong but this also isn't a Japanese version of the supercar like the NSX was and isn't rocking a 6 cylinder Accord motor. Fasten your seatbelt for what could be a wild ride...

Just bought a 99' Prowler for 19k last fall with 9k miles on it, perfect condition

Sounds about right. I was always curious about what type buys a Prowler.

Mike, you won't break even on the F Car with cost of ownership involved. You will be due for a belt service in three years. If they find nothing else other than the belts (which is pretty much impossible) you will be down for 3500-4k. Add in tires (as the ones you are currently rolling on will either be worn out or too old and dry rotted when you go to sell) to the tune of 1500-2k. Add in two regular services to keep the ownership and service history compete to the tune of 3-5k. I would also allot for another 2k over that period for miscellaneous things. As for pricing, you bought that car at about the going rate or a little south of that number. With the price of 430 coupes adjusting, you may or may not have hedged properly. I hope that you are right, it doesn't help anyone if you are wrong.

 

I think you have missed it to the tune of 10-12k over those 4 years if everything goes perfectly. I have to think thought that the market for the early model 360 is going to suffer when 430 pricing adjusts. Remember, they made that car for 6 years and the newer ones offer some upgrades to the '99, especially with reference to F-1 system. You have been buying cars in the past that have a very easy point of entry price wise as well as very very limited service costs of ownership. You have entered a new realm of ass pounding in the service department, especially in the Ferrari line. I hope that along with the title the previous owner passed you his half full bottle of KY and the donkey sized dildo he used to keep himself stretched out to ease the pain of reentry, you could possibly need it. I have also seen several people be very lucky, but then you also see the guys that loose F-1 systems to the tune of 15-20k. Maybe yours is a six speed though, I don't know.

 

Good luck with the car, you will certainly enjoy driving it. I just don't think that you are going to pull the coup that you think you are 4-5 years down the road. Also, as in most states, if you title the car in your name or your business, you will only be able to facilitate 3-5 sales per year before the state will require a dealer license. And this isn't 5-10 years ago when they could not keep track as they didn't have the computer capability. They will know and likely send you a "friendly" letter in the mail. Good luck with the purchase and sale. I am rooting for you, believe me. As I said previously, it doesn't help me or anyone else if you are wrong but this also isn't a Japanese version of the supercar like the NSX was and isn't rocking a 6 cylinder Accord motor. Fasten your seatbelt for what could be a wild ride...

 

 

Very well put. Like you mentioned above....Everything goes perfectly....lose 10-12K....drive an exotic 4 years....I think thats a pretty good deal!

With just about every car I have ever bought I list on autotrader asap - I generally buy vehicles and drive them for a year or two or three and sell them for more money or break even, so why not?

 

 

So you sell your car as soon as you get it? and it takes you one to three years to sell it?

 

Im not following this at all.

Everyone loves the prowler, probably the best bang for the buck if your looking for something exotic looking, easy to drive, rain, snow, or shine, and cheap to buy and maintain.

 

So you sell your car as soon as you get it? and it takes you one to three years to sell it?

 

I list them right away and try to get a high number $ it usually doesn't work but no biggie and I just dripe slowly over time.. my goal is to at least drive my cars for free and hopefully make a few bucks.

 

Im not following this at all.

 

Welcome to the world of Mike Brown. Where cars cost nothing to drive for 3 years and Plymouth prowlers are exotic cars!

 

Holy fcuk I need to start doing heroin.

So you sell your car as soon as you get it? and it takes you one to three years to sell it?

 

Im not following this at all.

 

I list them right away at retail.. sometimes it takes me a year or two to sell if I am trying to make a profit. And if I really want to dump it, I just drop the price to around wholesale...

Welcome to the world of Mike Brown. Where cars cost nothing to drive for 3 years and Plymouth prowlers are exotic cars!

 

Holy fcuk I need to start doing heroin.

 

I was just giving examples... I am on my second 360 and used to have a 2002 Murci - the prowler not so much but border-line exotic, gets way more attention then the 360 and it's not even close.

 

I am sure there are lots of peole out there doing the same as me.

I list them right away at retail.. sometimes it takes me a year or two to sell if I am trying to make a profit. And if I really want to dump it, I just drop the price to around wholesale...

 

I know people who do the same thing and it works usually. They drive the cars for whatever length of time and basically only pay maintainence. If you do your research and have cash you can do this. Of course there's a little risk but if you are diligent it can be done successfully. Like Mike does, you have to have defined goals on what you want to spend, how much you are willing to lose etc.

 

If someone is willing to put up with the headaches and risks of the game it does work. I actually can think of someone on this board who's name I won't mention who did that with 2 murcielagos in a row. He bought them well with cash, drove them, and then sold them for purchase price or for profit.

 

 

Everyone loves the prowler, probably the best bang for the buck if your looking for something exotic looking, easy to drive, rain, snow, or shine, and cheap to buy and maintain.

 

I don't know what kind of crowd you hand around with but i have yet to meet someone who likes the prowler lol. It certainly isn't an exotic and imo one of the ugliest car built and i wouldn't drive one if it was given to me, never mind buying one.

To each his own i guess.

I don't know what kind of crowd you hand around with but i have yet to meet someone who likes the prowler lol. It certainly isn't an exotic and imo one of the ugliest car built and i wouldn't drive one if it was given to me, never mind buying one.

To each his own i guess.

 

What other car offers hot rod styling with hyundia performance?!

What other car offers hot rod styling with hyundia performance?!

 

PT cruiser. Another Detroit masterpiece.

PT cruiser. Another Detroit masterpiece.

 

Damn well played! Forgot about that hunk o'shit...

Damn well played! Forgot about that hunk o'shit...

 

I totally understand what your saying about the prowler... but you could easily say Ferrari is the most ridiculous car of all time as well when it comes to cost of ownership and maint. schedule etc.

 

Prowler has the looks, but maybe not the guts.

for some reason i think youre just talking bullshit.

how could you be buying and flipping cars for many years, and ask this question now..... odd

whenever you get your next break , walk down to your local h&r block and see what they tell ya.

for some reason i think youre just talking bullshit.

how could you be buying and flipping cars for many years, and ask this question now..... odd

whenever you get your next break , walk down to your local h&r block and see what they tell ya.

 

think what you want - was just looking for ideas is all - I am as cheap as they come when it comes to buying anything, If I can save $5 I will, just the way I have always been.

 

Some of the richest guys I know who make 5-10+ million a year clip coupons to save $.40 at the grocery store etc.

Let me get your initial question straight, are you trying to find ways to depreciate your vehicles for tax deductible purposes within your business? Deduct allowable expenses related the cars?

Some of the richest guys I know who make 5-10+ million a year clip coupons to save $.40 at the grocery store etc.

 

Mike quit it while you are ahead, if you are friends with stingy multi millionaires wouldn't they be your first port of call on asking them how to dodge taxes and/or save money?

 

If they are willing to take a coupon to save $.40 on grocery I am sure they've worked out every possible scheme on this planet in order to save money.

 

 

 

Some of the richest guys I know who make 5-10+ million a year clip coupons to save $.40 at the grocery store etc.

 

I always wondered if this is an expression or anyone actually has a friend that does this. How much better utilized is your time when your making that kind of money to not clip a coupon or for that matter even take the hour to go to the grocery store

stop dude...

youre better off starting a new thread asking people what they do for a living.(kidding)

I call BS on having friends that make 5-10 million a year. I also call BS on them clipping 40 cent coupons. I also call BS on being able to own a Ferrari for years and make money off it when you sell it. It smells in here....

 

 

I call BS on having friends that make 5-10 million a year. I also call BS on them clipping 40 cent coupons. I also call BS on being able to own a Ferrari for years and make money off it when you sell it. It smells in here....

 

That's a lot of BS imo

I dont clip coupons myself.

 

But I eat fruit on the way to the checkout before they are weighed - over the last 7 years I am ahead on 3 oz of seedless grapes and at least that again in pistachio nuts.