Want to trade for an s2000?

[dontpanic]

congrats on medschool....

1. SELL THE S2K

2. Buy beater Civic, save the balance of proceeds from S2K sale.

3. live like a pauper until residency - do not buy any depreciating asset with borrowed money if you are already on school loans. ever.

New doctors are some of the most debt encumbered people on earth. It all seems very far away now but if you rack up too much debt you may not be able to afford to practice the specialty you really want to - some pay a lot less than others and the compensation in medicine is dropping fast. Otherwise you'll be no different than the unfortunate high school kid who delivers pizza every night just so he or she can afford the car they use to deliver the pizza in.

Oh,... and the sky is falling. plus I've got an extra cheese pie a customer didnt want for cheap.

[mjh712]

Originally Posted by TwinturboCamry

Sell them to each other for a dollar then.

There are also ways to give a car as a gift & avoid the taxes. Though I know if you can get away with that on a trade.

[yberther]

Originally Posted by TwinturboCamry

Sell them to each other for a dollar then.

They aren't idiots... They'll let you sell them for less than MSRP/BB, but not much more. They want/need to make money off this, so they don't let you just skirt by. At least in WA, again, it could be different in other states.

[IronSean]

Originally Posted by TwinturboCamry

Sell them to each other for a dollar then.

They'll still charge you tax on the BOOK value of the cars, not the selling price, if it looks too low to them. At least here in Canada.

Not sure about trades. You CAN gift a car without paying tax, but in Canada it's only once per 12 months, and ONLY between close family members(Spouse, Parents, Grandparents, equivalent in-laws).

http://www.mto.gov.on.ca/english/dan...used.shtml#tax

[TwinturboCamry]

Originally Posted by IronSean

They'll still charge you tax on the BOOK value of the cars, not the selling price, if it looks too low to them. At least here in Canada.

Not sure about trades. You CAN gift a car without paying tax, but in Canada it's only once per 12 months, and ONLY between close family members(Spouse, Parents, Grandparents, equivalent in-laws).

http://www.mto.gov.on.ca/english/dan...used.shtml#tax

TBH, that's sounds insane and if you really wanted to challenge it, you would win. I can sell whatever I want for how much I want.

Since when did they decide if a 57 Chevy is worth 300 bucks or $50,000 bucks? This is a very serious question. How do they tell if a 64 mustang I'm selling is worth $2500 bucks or $70,000? Who decides this? The seller and the buyer decides this. Blue book on it is prob SCRAP value.

[IronSean]

Originally Posted by TwinturboCamry

TBH, that's sounds insane and if you really wanted to challenge it, you would win. I can sell whatever I want for how much I want.

Since when did they decide if a 57 Chevy is worth 300 bucks or $50,000 bucks? This is a very serious question. How do they tell if a 64 mustang I'm selling is worth $2500 bucks or $70,000? Who decides this? The seller and the buyer decides this. Blue book on it is prob SCRAP value.

The link I posted answers your question, just above the tax exemption section:

"Retail Sales Tax

You must pay sales tax when you buy a used vehicle privately. The amount of tax is on either the purchase price or the vehicle's wholesale value, whichever is more.

What is the "wholesale value"?

Wholesale value is based on the Canadian Red Book, which lists the wholesale and retail values of used vehicles. This book is an accepted industry standard used by car dealers, insurance companies and other provincial governments.

How are the wholesale and retails values determined?

For personal vehicles, these values are based on the average amounts paid for vehicles of the same year, make and model. The values do not take into account optional equipment, vehicle condition, or the number of kilometres. These values can change from the date you pick up the Used Vehicle Information Package to the date of the vehicle transfer.
For passenger and light commercial vehicles (2,200 kilograms and under empty weight) 20 years or older, the retail sales tax is payable on the purchase price, replacement value for insurance purposes, or appraised value, whichever is more.
... "

It goes on to say if you want to argue, you can get the car officially appraised and file for a refund after the fact.

But the long story short is no, you can't just sell it for a dollar and get around the tax. They figured out that trick long ago. They might even have an argument to call it tax evasion or fraud.

[yetiFR-S]

I have whiteout frs with bc coilovers, speedfactory exhaust and fa20 stage 1.5 turbo kit not installed with 2800 miles. Buttttt its manual andddd I'm in jersey . Just thought it was worth a try. That s is immaculate

[reeves]

Originally Posted by Drobinson1692

Not trying to be rude but jesus guys, I was just looking for a trade. I have driven both twins, sat in both, and looked at space capacities. I just said 4 seats because I need a bit more room for running to Costco etc. I don't need a big size upgrade just some more.
Also, I want to switch to a DD auto because I'll only be driving in downtown traffic for the next 4 years.

Thanks for the opinions but I know what I'm getting.

Totally agree OP! 4 seats don't mean the same thing to everyone.. I "upgraded" to the BRZ's 4 seats as well, from my 2-seater. The back seats are VERY useful, and the car is AWESOME on gas as a fun-to-drive DD.

And if you can afford to go to med school AND get a BRZ, more power to you!

[Purdue FR-S]

Haha I love all the "heres what you should do kid" advice

Anyway ... I love your car ... I think I mentioned it before :P

Are you at IUPUI in Indy? I have a couple of friends going through the program.

If you were to sell it, what are you looking for?

[Drobinson1692]

I'm going to be an IU medical student on the Indianapolis campus. I currently am a senior at IU bloomington.

[Purdue FR-S]

Originally Posted by Drobinson1692

I currently am a senior at IU bloomington.

...nevermind I hate your car

[Drobinson1692]

Very clever. I pmd you

[Trojan_SC]

Originally Posted by Purdue FR-S

Haha I love all the "heres what you should do kid" advice

Anyway ... I love your car ... I think I mentioned it before :P

Are you at IUPUI in Indy? I have a couple of friends going through the program.

If you were to sell it, what are you looking for?

Seriously! The guy posted for a single purpose. Why does everyone feel the need to add their "two cents". "Don't do this, do that" "If I were you, I'd do this." I'm pretty sure he doesn't care. If you don't have what he wants, move alone.

OP your car is beautiful. Hope you find someone to trade with you. Good luck with school and your future endeavors. I might bug you for medical advice someday haha.

[Drobinson1692]

Thanks man! I'll be more than willing to give advice. I've already gotten a few pm's from other members!