I hope the three of you, CSA, TwoTone and MCParadise, come back
Come back?!? We can’t get rid of 'em!
I was thinking the same thing, a standard, signed by both parties, odometer statement.
I just ran the numbers from edmunds.com TMV, focusing just on the MSRP quote. Basically to reach 50,425 MSRP you have to have every option available, including AWD, an expensive White Tricoat paint job, the most expensive DVD rear entertainment system and CD/radio/navigation packages. Anything less will yield a lower MSRP.
Hope that helps out and at least you know what to expect, given the anticipated number on the 1099.
My jaw dropped. Are we talking about a car or the royal yacht? More expensive than the Bose that’s standard in the Acadia Denali? And all the rest? CD/radio/navigation of higher quality than the ones that are standard in this vehicle?
How likely is a dealer to get someone who wants all the bells and whistles and ribbons and bows? Hmm, there must be a way to see what actually sells on this car in NYC and vicinity?
Since last we met, I asked the wife of an accountant about the mileage aspect. She works with him and has relayed a couple of other car questions to him. She told me the mileage isn’t a tax issue, that IRS knows people win cars. The requirement in Texas or any other state may just be a matter of consumer regulations perhaps. But I’ll doublecheck with someone else.
No matter what, I’ll come out ahead, guaranteed. If I were to consider walking away, I’d be more likely to pedal away. Even more likely, I’d drive this chariot, leaving 'em all in the dust. Or, as suggested above, this being yacht-like, I’d leave 'em in my wake. I like to make a grand exit as much as I do a grand entrance.
P.S. GMC is covering taxes/title/licensing.
Hush, Mean Joe, be nice. Drink your coca-cola. Do I smell competitiveness amongst the CarTalk.com elite? Familiarity? Do I have to separate you boys? Be nice, but stick around. I need all the help I can get.
Since it is going to be called “used” anyway why don’t you live a little and drive that truck around this summer, you can’t be so against having a little fun now and then can you?
Are you playing Serpent to my Eve? And I’ll have fun fun fun 'til my Daddy takes my trucklet away. (Now there’s a car for me – a 1956 Thunderbird. A '52 MG-B wouldn’t be bad, either. Or a '65 Mustang.) I gave a few minutes thought at the start of this adventure to using the GMC for a weekend trip or perhaps longer and then reconsidered: (1) I’ve never driven a huge vehicle, though it probably takes no time to adjust to it, (2) I don’t want to risk damage, and (3)… and (4)… and (5)…
But I like the way you think.
I’m about to get in touch with both entities now. Are you pretty much or exactly describing what I’ve heard described as “constructive ownership,” whereby I have the right to take title but don’t? I just sell to the dealer without first taking title? Then, whoever buys from the dealer is the first buyer of a new car?
Thanks for your help.
That’s where I wonder if the IRS would claim MSRP for your prize - if you drive it around several months and sell it, they can claim you depreciated it by using it.
I have no intention of using the car. A major deciding factor is that I can’t afford insurance, garage-space rental (or the colossal headache of moving it almost every day for alternate-side-of-the-street parking, which I’m not temperamentally likely to do), parking tickets, etc. I don’t even want to touch the ignition in the showroom. What I plan on doing is putting my fingerprints all over it so that, even after it’s sold, it will always know where it came from. My heart feels a flutter over the freedom to take off that a car represents, but it’s not in the cards now.
I should have asked this above: Is an MSO the same thing as a Monroney sticker?
I’m thinking the IRS would say that the value of the vehicle would be at the time the vehicle exchanged hands - not what happened later.
But I wonder if there is a way to treat this like a business loss - and deduct the costs associated with selling the vehicle.
Maybe I missed it, but why are you selling the car back to the dealer?
Why wouldn’t you put it on the open market as a one owner vehicle, less than 20 miles with full factory warranty?
Why would the dealer pay you more money for a vehicle he gets a factory kick-back on,
if he ordered the vehicle himself? Its called a “hold-back” usually $1000, that goes directly to the owner of the dealership.
Sorry…I guess good-natured sarcasm travels poorly on the 'net…