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People flipping their Bronco

timhood

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I have to say that this easy money concept that has everyone flipping cars, houses, or anything of value is a sad thing. I just dont like the amount of greed that is present in the concept. While there are instances of someone putting in effort to bring something derelict into value again, more often it seems it is just a way to take advantage of the first parties failings and the final parties laziness. All while being the ultimate middle man.

Its just a concept that I am not morally comfortable with, and thats coming from a athiest.

Little side note, I have a freind that has a policy that whenever she decides to sell a car because it no longer fits her needs. She finds someone its right for and sells it to them for $1, still running and driving. Its a kind thing.
I once listed a motorcycle for sale and realized I'd under-priced it when I got calls off the hook and people racing to get to me. I could have told the first guy to up his price as there literally was other guy cash in hand waiting at the curb. But I promised a price. I sure hope he didn't flip it, LOL. More than not wanting to be the greedy guy taking advantage of someone else, I wouldn't want to be the guy being taken advantage of. :)
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JesseS

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Not in my experience. Ford actually subsidizes the dealer and participation requires you have the vehicle titled in the original purchasers name for a time period, or at least it used too, I was not planning on selling any of the recent Z plan purchases I have made, so I did not search out that part of the agreement. At one time, I was looking to purchase one for my mom, using my Father-in-Laws Z plan and it had to stay in my name for 6 months. Ford ended up expanding the program (it has changed multiple times in the 30 years I have used it) and my mom bought it directly, but that was 6 years back, may have changed again.
Why is that? I thought only X plan was not going to offered by Ford.
[/QUOTE]
You are correct, I had a brain fart I guess, not enough coffee this morning :)
 

Broncodave

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DealerInsider

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Just some insight on the flip & tax...some guys register the vehicle in Montana or open an LLC in Montana not to pay sales tax...they are sometimes in a "trust" and usually have a PO Box...i think there are a couple other states the same way...with the redesigned C8, I ran into this a lot this year...

here is an example of a 1M Mclaren on BAT...cars in a CA, but registered to the owner in a LLC in Montana...just saved like 80k in tax...

https://bringatrailer.com/listing/2019-mclaren-senna-5/
 

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Ryuk

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I noticed this immediately
Ford Bronco People flipping their Bronco 1613596944707
 

Engineeredthisway24

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Just some insight on the flip & tax...some guys register the vehicle in Montana or open an LLC in Montana not to pay sales tax...they are sometimes in a "trust" and usually have a PO Box...i think there are a couple other states the same way...with the redesigned C8, I ran into this a lot this year...

here is an example of a 1M Mclaren on BAT...cars in a CA, but registered to the owner in a LLC in Montana...just saved like 80k in tax...

https://bringatrailer.com/listing/2019-mclaren-senna-5/
When I lived in San Diego we used to attend a car meet that happened every Saturday morning in Rancho Santa Fe and the cars we saw were the best of the best. ALMOST all of the owners had Montana plates who described the same thing. One guy owned an entire collection of vintage Bugatti's all of which had Montana plates. The rich stay rich with these tax loopholes and it happens every day. I saw that Senna too. BAT has been selling crazy expensive cars lately! Have you check out Cars and Bids?
 

Used2jeep

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"Wow, $25k of easy money in my pocket!" - Bronco flipper.

"Knock knock." - the IRS.
If you have a net gain then what does it matter? You just don't get as much. You could still end up ahead.
 

BEM-S4

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Just some insight on the flip & tax...some guys register the vehicle in Montana or open an LLC in Montana not to pay sales tax...they are sometimes in a "trust" and usually have a PO Box
I thought they were cracking down on that, or maybe other states were going after their own residents who were registering cars in Montana? I'm just basing this on some stuff I've seen Bolian put out about exotics in GA...
 

DealerInsider

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I thought they were cracking down on that, or maybe other states were going after their own residents who were registering cars in Montana? I'm just basing this on some stuff I've seen Bolian put out about exotics in GA...
yeh, idk...the only way i do the deal is to register the car and collect tax where their DL says they live (and its never Montana)...its not worth losing allocation if the vehicle gets exported...GM is very particular with this especially with their "export list"...even paying the tax, we had some customers flip them without an issue
 

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BEM-S4

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yeh, idk...the only way i do the deal is to register the car and collect tax where their DL says they live (and its never Montana)...its not worth losing allocation if the vehicle gets exported...GM is very particular with this especially with their "export list"...even paying the tax, we had some customers flip them without an issue
Not sure how much you run into this but one of my BMW dealers (Main Line) does a LOT of high end M cars for Penn kids from China. They drive the car for 366 days then ship home to sell. With all of the tariffs and taxes, registration fees etc. it ends up being cheaper for the person in China and the original owners make a nice profit with virtually no effort.
 

Rogues Gambit

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I should of done that; built mine and then also a more mainstream friendly one.

Where's my damn Delorean
 

DealerInsider

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When I lived in San Diego we used to attend a car meet that happened every Saturday morning in Rancho Santa Fe and the cars we saw were the best of the best. ALMOST all of the owners had Montana plates who described the same thing. One guy owned an entire collection of vintage Bugatti's all of which had Montana plates. The rich stay rich with these tax loopholes and it happens every day. I saw that Senna too. BAT has been selling crazy expensive cars lately! Have you check out Cars and Bids?
i havnt seen cars & bids...ill check it out...bought my demon off BAT and it was a good experience...i enjoy reading all the comments and like how they keep them posted up and all the auctions have a history...it genuinely seems like a great community like 6G
 

DealerInsider

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Not sure how much you run into this but one of my BMW dealers (Main Line) does a LOT of high end M cars for Penn kids from China. They drive the car for 366 days then ship home to sell. With all of the tariffs and taxes, registration fees etc. it ends up being cheaper for the person in China and the original owners make a nice profit with virtually no effort.
lol...thats crazy...we have done some (camaro & vets)...some are from Japan too...the parents always wire the money over and we register in PA to the student who is living here and going to school
 

Moparguy

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When I lived in San Diego we used to attend a car meet that happened every Saturday morning in Rancho Santa Fe and the cars we saw were the best of the best. ALMOST all of the owners had Montana plates who described the same thing. One guy owned an entire collection of vintage Bugatti's all of which had Montana plates. The rich stay rich with these tax loopholes and it happens every day. I saw that Senna too. BAT has been selling crazy expensive cars lately! Have you check out Cars and Bids?
My friend here in San Diego just opened his LLC in Montana, funny you mentioned it.
I recently learned about registering cars in Montana, I don't call it rich get richer, I'd call it being smart, California is so hard on us when it comes to taxes.

Flipping wise, I'll flip my Bronco if I get good $$ above my cost, two years down the road those cars will be widely available, no reason to not make some money.
C8 Corvettes still sell way above MSRP, a friend of mine sold his to Carmax 2 months ago for $13K above MSRP!! he leased it, he net $7K in the process.
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