Costs incurred reselling

[Davidzzz]

Hi - my R1S Adventure should be available in July/Aug and I'm trying to assess the economics around selling it immediately. Has anyone -- preferably in MA -- done this and care to share the details? I want to make sure I include the full set of costs, such as:
- Insurance (how long will I need to hold it)
- Sales tax
- Excise tax (a MA thing)
- Registration fees

Thanks

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[RivAW]

Why would you resell it immediately? At this point, even if you have pre-Mar 1 pricing you’ll likely loose money or at least struggle to break even. If you don’t want the vehicle, then just cancel and get your deposit back. The vehicle should be insured from delivery until after a new owner takes it. You will be responsible for sales tax, registration fees, etc when you take delivery. You will get billed excise and it will take several mos for your town to send you the refund if you apply for an abatement after selling. I’m not entirely sure how the tax credit would work ….

 

[SANZC02]

Why would you resell it immediately? At this point, even if you have pre-Mar 1 pricing you’ll likely loose money or at least struggle to break even. If you don’t want the vehicle, then just cancel and get your deposit back. The vehicle should be insured from delivery until after a new owner takes it. You will be responsible for sales tax, registration fees, etc when you take delivery. You will get billed excise and it will take several mos for your town to send you the refund if you apply for an abatement after selling. I’m not entirely sure how the tax credit would work ….

+1

The days of an easy profit are gone, look at cars and bids latest sales are between 89.5 and 92k with an odd example that 2 people really wanted and pushed it to 103k

I would say might get 90k for it, my out the door total was 88.8k, just way too much effort/risk if you do not want it to pocket maybe a grand or so.

Edit:
If you are paying cash ( and for me I would not even consider a resale if getting a loan) a CD might be a better deal, my CU has an 11 month CD that gets 3.5%, drop the 90k in there and you could make almost 3k on that in 11 months with no risk.

Some banks have even higher short term CDs

US Bank - CD Special Rates STARTING AT
4.40% APY for 11 months
4.30% APY for 7 months
4.25% APY for 15 months

 

[oskeei]

Time=money

 

[LevelHeaded]

+1

The days of an easy profit are gone, look at cars and bids latest sales are between 89.5 and 92k with an odd example that 2 people really wanted and pushed it to 103k

I would say might get 90k for it, my out the door total was 88.8k, just way too much effort/risk if you do not want it to pocket maybe a grand or so.

Edit:
If you are paying cash ( and for me I would not even consider a resale if getting a loan) a CD might be a better deal, my CU has an 11 month CD that gets 3.5%, drop the 90k in there and you could make almost 3k on that in 11 months with no risk.

Some banks have even higher short term CDs

US Bank - CD Special Rates STARTING AT
4.40% APY for 11 months
4.30% APY for 7 months
4.25% APY for 15 months

Brokered CDs available >~5% out to 24+ mos

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