Hello, I’m not sure if this is the right category but here goes.
I’m currently leasing a 2018 Land Rover Discovery HSE and love it. Ordered a new, loaded and murdered out 2022 Land Rover Discovery HSE R-Dynamic SUV that is slated to arrive in mid-February; it was supposed to arrive in December. Dealer has agreed to sell the vehicle to me for MSRP, which is about $75,000, only because they didn’t tell me there would be a mark up of $5,000 to $10,000 when the vehicle was ordered and the vehicle is 2 months late.
I’m still weighing my options on whether to buy the 2018 Disco (payoff is $40K, wait out the craziness, and then order a 2023 Disco) or lease the new one that’s coming in. New lease terms are awful, MF .00211 and RV 56%, making an MSRP deal look like $1,300+ per month, which is ludicrous; I’m paying about $700/mo ($0 down) for the 2018 Disco, MSRP was $68,000. Given the KBB value of the 2018 Disco totaling anywhere between $49K and $52K, I thought the equity in the 2018 Disco would offset the horrible lease terms. However, dealers are offering around $42K for the trade in. Vroom offered about $48,000, which would net me about $5K because paying off the 2018 Disco would require an additional $3K in tax.
In looking at inventory Land Rover’s site, there are roughly 3 available 2022 Discoveries in the 500 mile radius of Southern California. Given the rarity of the vehicle and suckers, especially where I live, willing to pay the ridiculous mark ups, I’m wondering whether to outright buy the new vehicle and then turn around and flip it to my local Land Rover dealer for $2,000 - $3,000, who I’m sure would slap it with a $10,000 - $15,000 markup.
Has anyone tried something similar, i.e., flipping a new vehicle purchase to a dealer?
If I was to purchase the 2022 and immediately flip it to the local dealer, would I still have to pay the tax?
Any input would be greatly appreciated. Thanks in advance.