Selling My Xr6t Options

[Mildman]

  O2STOCK said:

Need to find out what the dealer will give you normally minimum $$. If the dealer gives you the payout $$ then this I think is the easy option, but some times they dont even come close. In this case you will need to advertise.

I guess the question is how hard are you willing to work to sell the car to gain 2K-3K. If it was a company car any amount over the depriciation value will be taxable    so if FORD take it for 20K and you can sell it for $23K this 2-3K bonus will be more like 1-1.5K (Tax margin at maximum) in the hand less advertising expensis.

In short I always give mine back, the last few months it normally has the worst treatment  / most fun, which offsets the $$$ I guess

just my 2c

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Are you sure you pay tax when you sell an asset you own that is not a house? If you buy out the car then sell it surely you can't be made to pay tax on the profit?

Or am I reading your statements wrong?

[ZAP]

If it is a business owned car and you sell it for profit, you need to pay capital gains tax on the difference between the write down value and the sale price. For personal cars this only applies if you sell more than 6 (I think) cars per year, as it can appear to be a for profit business.

[Chooka]

  ZAP_F6 said:

If it is a business owned car and you sell it for profit, you need to pay capital gains tax on the difference between the write down value and the sale price.  For personal cars this only applies if you sell more than 6 (I think) cars per year, as it can appear to be a for profit business.

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Sounds like a novated lease so he won't have to pay Tax

Chooka

[Mildman]

Yeah I'd agree - no tax.

Trade in are easily - as the car is sold straight away.....but if your not buying a new car...maybe check what the dealers will offer you.

I'm not sure how easy T's are to sell privately - but I really struggled with an XR6 (no T) and a Skyline - no one wanted to buy either of them....ended up getting more for trade than anyone would offer me on either car.

[Paranormal]

Blame the gov, many many dealers now steering away from turbos, wrx, etc cause of the no P plate rule, much harder to find buyers.

[Robbo]

Thanks for the ideas. I am considering trading on a Typhoon. I know everyone says that the Auto is the go but are there any manual owners out there who do not like the 6 speed manual?

[MR-XR]

I just bought my 03 xr6 turbo with 98000km for $23000,I have seen alot with around that many kms for around the $23000 to the $25000 mark.