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Trade in Values tanking

40Caliber

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no sales tax
wonder how bad their income tax is though. govt is going to get their money one way or another

definitely right about dealers
I live in New Hampshire ;)
No Sales tax,
No income tax
No taxes on Pensions or Social Security
No taxes on interest and dividends until you get over $4800/year
lowest tax on Tobacco in New England (Neighboring states come to us to buy their butts)
State run liquor stores with the lowest prices in New England (again neighboring states make trips to buy here as well)
lower gas tax in the region and generally lower prices than neighboring states.
Usually has lower employment than neighboring states (even though neighboring states have higher minimum wages).


This is the Rub - Real estate tax is higher which (used to) make values of homes lower until remote work hit. My house is valued at $550K and I pay $8200/year. Money' s got to come from somewhere.

They also soak the tourists with emals tax and bed tax as it's a tourist state for hiking and skiing etc...... (of course I pay these taxes too but the intent is really the visitors)

The only way I am leaving New Hampshire is feet first on my way to the Morgue ?
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TheBirdie72

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I live in New Hampshire ;)
No Sales tax,
No income tax
No taxes on Pensions or Social Security
No taxes on interest and dividends until you get over $4800/year
lowest tax on Tobacco in New England (Neighboring states come to us to buy their butts)
State run liquor stores with the lowest prices in New England (again neighboring states make trips to buy here as well)
lower gas tax in the region and generally lower prices than neighboring states.
Usually has lower employment than neighboring states (even though neighboring states have higher minimum wages).


This is the Rub - Real estate tax is higher which (used to) make values of homes lower until remote work hit. My house is valued at $550K and I pay $8200/year. Money' s got to come from somewhere.

They also soak the tourists with emals tax and bed tax as it's a tourist state for hiking and skiing etc...... (of course I pay these taxes too but the intent is really the visitors)

The only way I am leaving New Hampshire is feet first on my way to the Morgue ?
But the downside is that we all call you “New Hamster” behind your back. ?
Jeep Wrangler JL Trade in Values tanking EC6DA909-B036-43B3-BC0C-83CA6DCAC147
 

marktgorman

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Due to just needing a larger vehicle, I've been researching replacements for my 22 Wranger Rubicon XR. Stickered for 62k and I bought it for 58k last year.

I was offered 46k for trade from the same dealership I purchased from. That's painful depreciation for 7 month old vehicle.

The days of high used car values seem to definitely be over.
What color, I might be interested in this.
 

Gladius Nova

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Meh, I’d take blue book values with a grain of salt.
I used to think that until I just sold my son's 2020 Honda Accord to Carmax for $1k more than the Blue Book Value last weekend. Maybe they just needed Honda Accords....IDK, and don't care now.
 
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Punkn89

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I used to think that until I just sold my son's 2020 Honda Accord to Carmax for $1k more than the Blue Book Value last weekend. Maybe they just needed Honda Accords....IDK, and don't care now.
The 10th gen 2.0t accords are actually pretty sweet. What did he trade it in for?
 

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Gladius Nova

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The 10th gen 2.0t accords are actually pretty sweet. What did he trade it in for?
Nothing. He just got assigned to Japan (Air Force) and asked me to sell it for him. He got a sweet equity check from the sale too.
 

Gladius Nova

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Aside from slow sales, dealers are stuck with inventory that is rapidly decreasing in value. Let the great dealer purge begin!!!
I don't know if anyone here has noticed, but dealer lots are full of cars now compared to the last couple of years when you couldn't find shit on the lots.
 

40Caliber

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But the downside is that we all call you “New Hamster” behind your back. ?
EC6DA909-B036-43B3-BC0C-83CA6DCAC147.jpeg
you can call me a woodchuck and I won't care ?

BTW,,, Hows the tax situation down there in RI? LOL ;)


My first 3 day weekend when I lived in NH
1. I went to the ocean
2. I hiked in the mountains
3. I went on a boat ride on one of the largest lakes in New england

and I never left the tiny state!!!

I knew then it was home
 

chicknwaffles

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I live in New Hampshire ;)
No Sales tax,
No income tax
No taxes on Pensions or Social Security
No taxes on interest and dividends until you get over $4800/year
lowest tax on Tobacco in New England (Neighboring states come to us to buy their butts)
State run liquor stores with the lowest prices in New England (again neighboring states make trips to buy here as well)
lower gas tax in the region and generally lower prices than neighboring states.
Usually has lower employment than neighboring states (even though neighboring states have higher minimum wages).


This is the Rub - Real estate tax is higher which (used to) make values of homes lower until remote work hit. My house is valued at $550K and I pay $8200/year. Money' s got to come from somewhere.

They also soak the tourists with emals tax and bed tax as it's a tourist state for hiking and skiing etc...... (of course I pay these taxes too but the intent is really the visitors)

The only way I am leaving New Hampshire is feet first on my way to the Morgue ?
I don't shovel. pass.
 

TheNewGuy

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you can call me a woodchuck and I won't care ?

BTW,,, Hows the tax situation down there in RI? LOL ;)


My first 3 day weekend when I lived in NH
1. I went to the ocean
2. I hiked in the mountains
3. I went on a boat ride on one of the largest lakes in New england

and I never left the tiny state!!!

I knew then it was home
You near Winni?
 

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LuvHydro

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There are some youtube guys (search YAA). the dad is an ex car salesman, the son looks and posts the weekly statistics on car prices. they have been pretty accurate on calling this correction all the way through.

the last video I watched, they believed prices would continue down into the summer.
it depends on when you need the jeep and how long you are willing to wait.

I'll be 60 this august. Time is worth something. I bought my wife a jeep at Gupton in October and was pretty sure this was gonna happen. (which is why i bought new and plan to keep a long time)

I didn't however want to wait till i was 61. At this point for me, time is more valuable than money. I got no Idea how much time i got left.
Yep, I discovered them right as they started. I already knew a lot of what they were saying, but I learned some things and it was good to get confirmation on the things I thought I already knew.

They have changed their name and what they do several times and sadly, once they got that big influx of cash, I've enjoyed them much less, but still skip through their videos.

On your age, as I'm sure you already know, staying active and healthy is where it's at. I know a lot of older people that are very vibrant at 70. That said a fella about your age I knew that seemed fine, dropped over dead the other day.

The key, as you said, is no one knows when it's their time. I hope yours is as far away as you want it to be.
 

ads75

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There's new rules for applying for the EV tax credits. Previously to get the full $7500, you had to be in the right income bracket, plus the manufacture sales had to be (significantly) below the threshold of 200,000 vehicles. Tesla very quickly hit that sales number, so no-one would qualify.

Now there's new rules stipulating that there's no vehicle sales limit, BUT, the cars had to be under a specific price range, about $55,000 for SUV's, PLUS a stipulation that certain components had to be built in the U.S. (batteries being one).

Right now the provisions are in a weird state of limbo, the old rules no longer apply, but only the price range provision is active right now, with the manufacturing requirement kicking in at a later date. Tesla (and I'm going to assume that other manufactures might want to join soon) slashed the base price overnight to hop onto the incentive NOW, as it would take time to move all necessary production, if they ever could.

Tesla's Model Y is the biggest price cut, going from $65,000, to $52,000, a 20% price drop. Imagine buying a loaded Rubicon JLU XR from Jeep right now (with a $7500 uncle sugar discount a long thing of the past), only to find out next week that the new price fell $13k overnight. Not only are you screwed out of that $13k on a week old vehicle, you missed a $7500 tax refund, AND your value took a HUGE hit too as people can just buy a new one at effectively $44,500 + TTL, even if you were selling yours at a loss of $15k.

Folks are VERY rightfully upset.
Tesla dropped their prices, but the new dropped prices are much closer to what they were pre-pandemic. Tesla owners are mad at Tesla for dropping prices, prices they thought were fair when they bought a month ago. Same thing with dealers, prices are dropping, but if you buy from a local dealer it isn't a national story.

Basically, if you bought directly from a manufacturer you are mad at the manufacturer for dropping prices due to national coverage. Tesla doesn't suffer from ADM, they just raise prices and take the additional profits for themselves, and then adjust prices back down when demand drops. If you bought from a dealer, you would be upset to hear someone recently bought and paid less than you did, but it isn't a national news story, its a local one you probably wouldn't hear about.

Ford saw dealers adding ADM for their high demand models, like the Lightning, saw customers were willing to pay those higher prices, and raised MSRP to get some of those profits for themselves.
 

Mudduck

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I've never made a purchase based on what a market or society's view of what it may be worth later. I always try to decipher what it will be worth to me tomorrow, 5 years from now and enjoy it.

To quote the Hodge Twins "Do whatever the F you want"
 

Heimkehr

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He just got assigned to Japan (Air Force) and asked me to sell it for him.
Kadena? Hopefully he'll avail himself of the travel opportunities while he's on station.
 

Gladius Nova

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Kadena? Hopefully he'll avail himself of the travel opportunities while he's on station.
Yes. Yes, we made sure to tell him he needs to travel a lot and experience more than when his mom and I were AD.
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