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Old 03-27-2013, 07:05 PM   #1
FadeToblack
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possible to buy an exotic car, drive it a year and break even?

I read a lot of car forums and one poster on a porsche forum i frequent does this all the time, so he says.

Buys gallardo, R8, GT3....etc etc. Finds good deals. Finances them with low interest and long terms. Then sells them in a few months and breaks even.

I guess your purchase price would have to be well below market to pull this off.
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Old 03-27-2013, 07:10 PM   #2
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Yeah. My friend's dad actually did this many times.

Went over to his house, Aston Martin just sitting in the driveway that he bought on a whim.

Sold it 6 months later. Got another car.
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Old 03-27-2013, 07:13 PM   #3
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Yes, it is possible
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Old 03-27-2013, 07:32 PM   #4
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Won't you get hit on the sales tax?
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Old 03-27-2013, 07:33 PM   #5
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Won't you get hit on the sales tax?
Private sales... At least I know GA doesn't tax them, most likely different in other states though.
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Old 03-27-2013, 07:37 PM   #6
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In CA you can't get away with that. Taxes will ream you in the butt. $140,000 exotic = ~$12,000+ in taxes.
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Old 03-27-2013, 07:39 PM   #7
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Oh man that blows.
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Old 03-27-2013, 07:39 PM   #8
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In CA you can't get away with that. Taxes will ream you in the butt. $140,000 exotic = ~$12,000+ in taxes.
Can you roll the taxes into the loan? 12,000 in tax over 60 months is 200 a month. Just get a heck of a deal on the car...you could still break even.
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Old 03-27-2013, 07:44 PM   #9
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Wouldn't it cost a lot to insure too?
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Old 03-27-2013, 07:47 PM   #10
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yeah I'm thinking insurance would screw you
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Old 03-27-2013, 07:59 PM   #11
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Do it and let us know how it works out
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Old 03-27-2013, 08:04 PM   #12
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Anther vote for insurance killing your bottom line.
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Old 03-27-2013, 08:07 PM   #13
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OP will never buy an exotic car
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Old 03-27-2013, 08:17 PM   #14
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Insurance is not that bad, unless you are 18 and lives with your parents or you have a lot of tickets. If you have multiple cars, the exotic is going to be for "pleasure".
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Old 03-27-2013, 08:22 PM   #15
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Can you roll the taxes into the loan? 12,000 in tax over 60 months is 200 a month. Just get a heck of a deal on the car...you could still break even.
Most states require taxes to be paid at registration in a private sale. If you can find a finance company willing to bankroll your used exotic, plus sales tax, plus personal property tax (if your locality has it) at a really low interest rate, you maybe ok.

Good luck.

My money is on this never happening.
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Old 03-27-2013, 08:30 PM   #16
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My money is on this never happening.
but someone on the internet said it
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Old 03-27-2013, 08:30 PM   #17
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Or just buy a private sale car with registration already paid for the year but yes, insurance would be high
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Old 03-27-2013, 08:32 PM   #18
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Make a thread about it here and not on the Porsche forum, or direct-member PM.
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Old 03-27-2013, 09:21 PM   #19
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Whats the point, sounds like a hassle.

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Old 03-27-2013, 09:25 PM   #20
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