Entegra Trade In Value

[TXiceman]

Ed, I mean 60% of new cost not the inflated MSRP.

Last 2 5ers I bought for under NADA Low Retail (no options added on) by a good amount. I am not here to put a sales persons kids through college.

Ken

[Jack1234]

Originally Posted by wnytaxman

There is a way to reduce the sales tax problem, and it's not a Montana LLC. If you have a buyer in hand and a price that is workable, you may find a dealer who will run all the paperwork through for a fee that would be substantially less than the sales tax bite.

If you find that the dealer who gives you the best deal you may want to mention the paperwork idea and see if that works. Anyone with a clean deal is an easier deal for a dealer to move the Cornerstone to you.

Just a random thought from someone who makes their living saving people taxes.

No doubt you are well versed in the complexities of the area where you practice .....but unfortunately here in B.C. (Bring Cash)
there is no way to legally avoid the 12% transfer tax on a used vehicle....Dealer or Private ....everyone pays the "12% transfer tax" every time the vehicle changes hands and you go to register the vehicle.

Probably best to consult a tax professional in your home state or province ....just to be sure. One thing for sure though....if you live in a sales tax jurisdiction, you really need to also take the sales tax into some sort of depreciation calculation. Here in B.C., for example, if you bought a new Anthem for $325k and sold it 12mo. later for $245k (-25%) you'd loose 80k in depreciation and $39k (tax) for a total of approx. $120k or -38%..... give or take.

Kinda makes ya happy if you don't live here .....cuz I'd be surprised if there is a worst place to buy an RV in N.America?

[johnnyreno]

In Nevada a private party person to person sale on a use vehicle that has already been taxed there is no sales tax at all. BUY IT FROM A DEALER NEW OR USED THERE IS SALES TAX.

[wnytaxman]

Originally Posted by Jack1234

No doubt you are well versed in the complexities of the area where you practice .....but unfortunately here in B.C. (Bring Cash)
there is no way to legally avoid the 12% transfer tax on a used vehicle....Dealer or Private ....everyone pays the "12% transfer tax" every time the vehicle changes hands and you go to register the vehicle.

Probably best to consult a tax professional in your home state or province ....just to be sure. One thing for sure though....if you live in a sales tax jurisdiction, you really need to also take the sales tax into some sort of depreciation calculation. Here in B.C., for example, if you bought a new Anthem for $325k and sold it 12mo. later for $245k (-25%) you'd loose 80k in depreciation and $39k (tax) for a total of approx. $120k or -38%..... give or take.

Kinda makes ya happy if you don't live here .....cuz I'd be surprised if there is a worst place to buy an RV in N.America?

Jack, I didn't realize you were in the Great White North where taxes are more than a little bit high. Some provinces and some states do not give you a break for trade-ins. Some like Nevada, don't collect tax on private party sales but do on dealer sales. Most, but not all, states will only charge you the tax on the difference between the trade and the new rig.

[Saltydog44]

NC limits the sales tax on MH's to $1500 unless the new law for 2014 changes it. About the only break we get from the as guys in NC on anything.

When we bought in Indiana though, we had to pay their tax because of a "Lack of reciprocity." Iin FL we did not.

Go figure.

[wnytaxman]

Originally Posted by TXiceman

Ed, I mean 60% of new cost not the inflated MSRP.

Last 2 5ers I bought for under NADA Low Retail (no options added on) by a good amount. I am not here to put a sales persons kids through college.

Ken

Ken,

I really don't know about 5ers so I can't speak about their used values. For coaches I will stand by my comments. If you can find a two year old Aspire or Anthem that is available for 60% of the buyer's purchase price please let me know as I'll be there with checkbook in hand. I'm seeing the few used Entegras to be priced pretty high so I'd love to find an Anthem for under $200, 000.

Ed

[johnnyreno]

Originally Posted by wnytaxman

Jack, I didn't realize you were in the Great White North where taxes are more than a little bit high. Some provinces and some states do not give you a break for trade-ins. Some like Nevada, don't collect tax on private party sales but do on dealer sales. Most, but not all, states will only charge you the tax on the difference between the trade and the new rig.

correct if you have a trade in to a dealer you get credit for the sales tax you paid on the trade in that you are now trading in,, hee heee

[DianneS]

For us, the main reason that we purchased in Ontario (rather than buying in the US) was the tax savings on our trade-in which amounted to $20,000. We were also selling our corvette privately but our dealer processed all the paperwork for us and showed the corvette also as a trade which was another $8,000 in tax savings. So....pretty hard to beat a savings of $28,000. Our dealer also gave us a great price for the new coach. At that point there was no way to say no to the deal.

[DSL417]

Had to hurt... selling the Vette. Speaking from experience; a sad day after 17 years of driving the best dollar for dollar sports car in the world.Wanted to trailer it. DW said no:(

[DianneS]

Originally Posted by DSL417

Had to hurt... selling the Vette. Speaking from experience; a sad day after 17 years of driving the best dollar for dollar sports car in the world.Wanted to trailer it. DW said no:(

Actually, no it didn't hurt. The corvette just sat in the garage and didn't get enough use so it didn't make sense to keep it. If it is a nice day we prefer to take the motorcycles, or head to the cottage for boating. Too many toys and not enough time to use them!