Is FRS/BRZ/GT86 a first new purchase? Will you buy brand new again?

[hmong337]

Originally Posted by Tcoat

Where in Ontario did you find a new one for $26K? That is a great deal as they usually start at about $28 and go up from there.

Kitchener @ Heffner Lexus/Toyota/Scion. I got mine July 2013. They were just a tad over $26k at the time for a base model. Scion pure pricing- nobody budges on msrp. The 2014 models were set to release just a few months later so I guess they kept the price low towards the end of the 2013 stock to move them.

I ran into a douchey BRZ owner that paid $42k out the door. Holy hell that guy got raped lol.

[beatgenie]

It's my first new car and I have no regrets...I've been through 5 used cars prior to this:

1994 Pontiac Grand Am
1998 Mazda Millennia
1999 Hyundai Tiburon
2001 Honda Prelude
2008 Honda Civic

I can't guarantee I will purchase new again, it will all depend on my financial situation. If its looking good, I will always purchase new. If not, I will hang on until I can afford new.

[Scubaru]

Originally Posted by hmong337

Our 13% sales taxes bends us over here in Ontario.

[ame="https://www.youtube.com/watch?v=t7jzhc3DLC4"]Ernest P. Worrell goes ewwwwww.. again - YouTube[/ame]

[Tcoat]

Let the duplicate thread die!

[jvincent]

Mods should be able to merge them.

[AznKirby]

Originally Posted by hmong337

Kitchener @ Heffner Lexus/Toyota/Scion. I got mine July 2013. They were just a tad over $26k at the time for a base model. Scion pure pricing- nobody budges on msrp. The 2014 models were set to release just a few months later so I guess they kept the price low towards the end of the 2013 stock to move them.

I ran into a douchey BRZ owner that paid $42k out the door. Holy hell that guy got raped lol.

I find that hard to believe. Were the seatbelts lined with diamonds?

[Koa]

Originally Posted by hmong337

So let's say if I sold today, those thousands of dollars I paid to big brother 18months ago I don't get back. Along with natural depreciation and only being able to get $17k for my car presently, that's $15k loss! Thank goodness this car is a keeper lol.

It indeed is not fair to include sales tax and other new-car fees in calculating depreciation. In accounting, we calculate depreciation expense as the asset's depreciable basis (cost of asset less salvage value) divided by the method of depreciation utilised (99% of businesses use straight line depreciation with standard lives, 5 year for most office furniture, 7 years for most warehouse items, etc)

/acctg nerd hat off

It really doesn't help you to look at that $15k loss like that. You're never going to get taxes back. The person you sell to has to pay taxes on top of that $17k. It is a much truer analysis to view things sans taxes and fees!


P.S welcome to the world of sportscar valuations! It's a cooky one.

[hmong337]

Originally Posted by AznKirby

I find that hard to believe. Were the seatbelts lined with diamonds?

It's not too far fetched. He probably got one that was loaded to the tilt with extras and extended warranty. This crap adds up quickly. Throw the 13% rape tax on the subtotal and $42k doesn't seem too far off.

[sdwagonjp]

Complete opposite from @Tcoat. I never drive my Fr-s. I always get a call from my little brother asking if he can drive it to church. Not even 500 miles on it, and its been almost 2 months. Its a fun car, but I never get a chance to drive it. Always busy, and when I hangout with my family I like driving my moms Nissan Juke lol.

But, to answer the question if I would buy new? Hell yeah. When you like a car I don't look at the depreciation, I look at how long will I keep my car? Im one who will drive my car till it explodes and ill leave it on the side of the road when im done with it.

[dreamingat30fps]

Reposting in correct thread

I stopped buying new a while back. Always used now and can't see myself going back unless I hit the lotto or something. Even then would probably still buy used unless it was like some new model I had to have and there were no used ones available.

I don't tend to keep cars that long. Longest I have had any car so far is like 3 years. Typically I buy them CPO or with some factory warranty left, although not always.

Being the first guy to fart in that new car smell is nice, but not for a couple thousand bucks. Actually the FRS is the newest car I have purchased recently. My other cars have been at least 4+ years old when I get them. The FRS still smelled new when I got it.

[hmong337]

Originally Posted by Koa

It indeed is not fair to include sales tax and other new-car fees in calculating depreciation. In accounting, we calculate depreciation expense as the asset's depreciable basis (cost of asset less salvage value) divided by the method of depreciation utilised (99% of businesses use straight line depreciation with standard lives, 5 year for most office furniture, 7 years for most warehouse items, etc)

/acctg nerd hat off

It really doesn't help you to look at that $15k loss like that. You're never going to get taxes back. The person you sell to has to pay taxes on top of that $17k. It is a much truer analysis to view things sans taxes and fees!


P.S welcome to the world of sportscar valuations! It's a cooky one.

Oh I know. But I'm looking at this situation as to how much money is being lost if I sold. I guess it's not so much the depreciation that hurts but the amount of money big brother rapes you on a new car purchase.

[sdwagonjp]

Originally Posted by hmong337

Oh I know. But I'm looking at this situation as to how much money is being lost if I sold. I guess it's not so much the depreciation that hurts but the amount of money big brother rapes you on a new car purchase.

There is no way around that unless you pay cash for a used car from a non-dealer because they can adjust your bill of sale that needs to be given to the dmv for tax purposes.

[Tcoat]

Originally Posted by sdwagonjp

There is no way around that unless you pay cash for a used car from a non-dealer because they can adjust your bill of sale that needs to be given to the dmv for tax purposes.

Even that method doesn't always work in Ontario. The MOT workers can either accept your receipt value or look up the stated book "value" in your area and charge you tax on that!
So you buy a car for $1000 and submit the receipts and they decide to check book value and it says $5000 you could pay taxes on that amount even though you didn't actually pay that much.
And people think or health care here is "free"!

[sdwagonjp]

Originally Posted by Tcoat

Even that method doesn't always work in Ontario. The MOT workers can either accept your receipt value or look up the stated book "value" in your area and charge you tax on that!
So you buy a car for $1000 and submit the receipts and they decide to check book value and it says $5000 you could pay taxes on that amount even though you didn't actually pay that much.
And people think or health care here is "free"!

Damn thats horrible. I thought only cells phone purchases were like that. Get a iphone for 200 bucks but pay the tax on 600 when signing a contract!

Health care is lame and so are taxes. I think after each check I pay around 1200 in taxes. Thats not including I pay around 137 a month on health insurance I never use. Plus its only going to get worse when I hit my 30's and 40s when they think I need to pay more, and when I make more.