Leasing with the sole intention to sell for positive equity

My Camaro was specifically to flip

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Wow, well done. Even crazier is that there is a hapless customer out there who would pay nearly $90k for a Wrangler … :face_with_raised_eyebrow:

It should be noted that this is the extreme exception case based on a market inefficiency, and it could all change tomorrow with a financing company or buyer changing their policy on 3rd party transactions. But there are worse things to be stuck with than a Rubicon, I suppose :sunglasses:

wow. that’s just crazy. I can’t understand when they pay more than they could buy it from a dealer for. And, by that, I mean they could simply pay sticker price.

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They go 10-20 over sticker all day in certain areas

A lot of the SRT products really hold their value quite well (GCs, TRXs etc…)

All this said, I went into knowing I may be stuck with it and can live with it. If I make 10, 5, nothing, or drive it for an effective payment of $500/month, I can live with any of those scenarios.

It’s about the fun of driving a handful of unique cars.

Made $4300 on the Camaro, $4200 on the BMW (not counting the payments I made), so an upcoming loss is inevitable.

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Couldn’t agree more.

It’s happening w 4xes too.

I think I recall you having auction access? The only 392 I saw go by when I looked 10 days ago went for $91K

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I do.

The 4xes I think are a tad different because of the fed incentive. So, my $55k build got a $49k bid from Vroom. Well under MSRP but above what I’m paying for it. That makes a little more sense since they’d obviously not be able to benefit from the fed incentive themselves, as far as I know.

Here are the auction results for the 392. Seems like I should buy one of these, too. But that’s a big nut to float. I do have no current car payments. Oh boy.

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I was surprised with the equity on your M550i when you posted about it on your transfer thread. I’ve gotten quotes on my 2021 M340i that I took delivery of in April and I’ve been offered 8-9k below payoff by most services, and I was at 9% pre-incentive.

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I was too

A 3 month old bmw should not have equity

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I know and it kills me to get rid of it

Honestly it’s not just the right option for me right now

I’ll own one again some day though!

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For sure, would love to see it in alvite

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At this point, is the answer always ā€œyesā€ to selling a current vehicle for more than you bought it for if you can buy a suitable replacement?

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Where in US can realtors get 10% of sale price? In CA (Orange County), listing agents are begging me to list for just 1% commission. My house is a modest one under $1mil.

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If you own it as an LLC you will need to transfer it out to evict. There is an appellate division case that does not permit owner of an LLC to evict the tenant even if he intends to live there, because the LLC is legally a separate entity.

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Yeh I think so!

I have a beautiful and stable marriage which allows me to have lack of stability/long term relationships with my cars :dark_sunglasses:

Every car can be replaced when something more interesting comes along. And, I don’t mind carrying additional costs for a period of time to wait for the right opportunity to unload.

I don’t know anything about the stock market or crypto, so I stick to what I know and let the experts handle the other stuff (well not crypto but you get the idea). :red_car:

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According to CNN there are currently more real estate agents in America than there are homes for sale. I certainly hope nobody is paying 10% commission.

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Lol I think you accidentally added a zero to that commission rate. What moron is paying 10% commission to a real estate agent?

I think is closer to 5% average, but below article takes into account other factors. (not everyone in the forum lives in socal)

5% to realtors and closing costs/transfer taxes etc. it’s def closer to 10% after all that bs. Depending on house value obv

Most realtors are selling for 2.5/2.5 splits now. I’ve seen some try to add clauses to take more in the event it goes over asking (often now).

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LOL, you dont need to like things too take advantage of them. NFT is crazy but i have made more money than anyone on this forum that are selling their leases to carmax,algo,etc.

If anyone wants to make easier money than selling leased automobiles, check out NFT’s.

Haha, Hodl to the moon bro.