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Poll Question: What would you do?
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oldpbnoob View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote oldpbnoob Quote  Post ReplyReply Direct Link To This Post Posted: 16 February 2011 at 11:55am
Call me cynical, but it isn't every day that someone offers me a car valued at $20-23k+ for 1/2 price. There is an expression about if something sounds too good to be true.... If it is a legit deal, I would buy the car, turn around and sell it for a profit. Watch out on the taxes though. At least in Florida, if a title changes hands for significantly less than the stated Blue Book value, you may get a letter from the state questioning the legitimacy of the stated value. I ran into something like this many years ago where I purchased a vehicle that needed engine work for a lot less than it's BB value. I got a letter 2 years later from the DMV questioning the transaction along with a bill for the difference and penalties. It took me several letters and phone calls to get the situation worked out more or less.
"When I grow up I want to marry a rich man and live in a condor next to the beach" -- My 7yr old daughter.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote agentwhale007 Quote  Post ReplyReply Direct Link To This Post Posted: 16 February 2011 at 12:13pm
Does the person selling it to you have a giant mustache and wear a beret? 

If so, the car had a rotting pig in it. Don't buy it. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote oldpbnoob Quote  Post ReplyReply Direct Link To This Post Posted: 16 February 2011 at 12:20pm
Originally posted by agentwhale007 agentwhale007 wrote:

Does the person selling it to you have a giant mustache and wear a beret? 

If so, the car had a rotting pig in it. Don't buy it. 
LOL
"When I grow up I want to marry a rich man and live in a condor next to the beach" -- My 7yr old daughter.
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Shub View Drop Down
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I donít have one either. Is that good???

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Shub Quote  Post ReplyReply Direct Link To This Post Posted: 16 February 2011 at 10:56pm
Originally posted by oldpbnoob oldpbnoob wrote:

Originally posted by agentwhale007 agentwhale007 wrote:

Does the person selling it to you have a giant mustache and wear a beret?†

If so, the car had a rotting pig in it. Don't buy it.†
LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RoboCop Quote  Post ReplyReply Direct Link To This Post Posted: 16 February 2011 at 11:50pm
Can someone explain to me why the DMV cares about cars being sold for cheaper than BB value? Why do they have any say in how much cars should be sold for?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote oldpbnoob Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 8:08am
Originally posted by RoboCop RoboCop wrote:

Can someone explain to me why the DMV cares about cars being sold for cheaper than BB value? Why do they have any say in how much cars should be sold for?
YOu may be right, It might have actually been the state treasurer. Basically, it was whoever you paid the taxes to when the title transferred. In fact, the more I think about it, I beleive it was a state agency, because it came back on me a couple of years later again when a new administration took office. I remember having to go back and try to get the info again for them. Eventually, I had to tell them that I simply no longer had the info, nor the car and they finally left me alone. This was nearly 25 years ago, so pardon me if the details are a little fuzzy.
"When I grow up I want to marry a rich man and live in a condor next to the beach" -- My 7yr old daughter.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote FreeEnterprise Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 9:46am
Originally posted by PAINTBALL1 PAINTBALL1 wrote:

Originally posted by oldpbnoob oldpbnoob wrote:

Let us know when this episode airs on The Peoples Court.


How so? I have 3 options 1) Purchase the car outright from him. 2)apply for the loan through his bank and 4) apply for it through my current bank. So the peoples court can be left up to the ones who just decided it'd be fun to throw money at someone hoping for rainbows and unicorns to take of the rest... kind like voting for the current POTUS (Zing!)

And as far as the "nice" car, I guess it's not that it's a nice car but since I've been owning vehicles I've never purchased one for selfish reasons. My true dream car would be a Viper, between 2000-present. But that one will have to wait until I finish up the next 17yrs with Uncle Sam. Buying the Vette would just fill a gap of immaturity that I have from knocking up the wife 3 times, starting when we were 15.

Outside of that, the logical part of me sees that the price is good but on the other hand it's not needed and well I don't love having a car payment.

We shall see...
 
 
If it were me, I would buy it, and have a ball with it for the 3-5 months that you will just really enjoy it... Once it starts to not have that fun factor anymore. Sell it and pocket the profit.
 
Just be careful, vette's and police officers writing tickets go hand in hand...
 
And getting a bunch of tickets would mess your USAA up for a long time.
 
I don't see a downside, unless you end up tearing it up or wrecking it. But, you know if you can handle it or not.
 
As for the value, watch one on ebay, and that will give you a good idea of what you can sell it for.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PAINTBALL1 Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 7:17pm
Well, the numbers are in: Payoff price of the loan is $13,800, which wouldn't be terrible except that he has 105,000mi on it. I did a quick KBB look and at best (Excellent condition)it is $13,600. Most people go by the Good/Fair value which puts us at about $12,600.

I'm thinking after getting all the numbers that I'm going to pass. O well, could have been fun.

Not to mention that I had some frozen water put me in a ditch today and in the process of spinning out of control, I hit a reflector which is going to cost me a couple hundred to repair. Looks like I'll be doing some repairs and looking into buying a truck.

Edited by PAINTBALL1 - 17 February 2011 at 7:19pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote __sneaky__ Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 7:50pm
Get the vette.
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PAINTBALL1 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PAINTBALL1 Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 8:08pm
Originally posted by __sneaky__ __sneaky__ wrote:

Get the vette.


Did you catch my last comment?

Methinks it's not as good of a deal as previously mentioned. That and getting a loan for a car with 105,000 miles is kinda difficult, normally requiring higher interest.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote evillepaintball Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 8:21pm
How much was his loan originally for/ how long has he had it?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PAINTBALL1 Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 8:28pm
Originally posted by evillepaintball evillepaintball wrote:

How much was his loan originally for/ how long has he had it?


Roughly $17k, and about 2 years.

Edit** After looking around a bit, it's still a "decent" price for the miles and if I wait a little while to sell my car it would bring the price down closer to $13 or possibly less.

Not that it matters, but this vette does have Borla exhaust system, intake, and a tuner. Not that those are huge things, but the exhaust alone is worth around $1k.

Edited by PAINTBALL1 - 17 February 2011 at 9:24pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tallen702 Quote  Post ReplyReply Direct Link To This Post Posted: 17 February 2011 at 9:57pm
Ever see how much a new set of tires costs for a 'vette? It's not like you can rotate them or anything.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PAINTBALL1 Quote  Post ReplyReply Direct Link To This Post Posted: 18 February 2011 at 1:51am
Originally posted by tallen702 tallen702 wrote:

Ever see how much a new set of tires costs for a 'vette? It's not like you can rotate them or anything.


$400 a set...

But near as bad as trying to find out why the ABS/Traction Control/Active Handling systems aren't working. Could be a $2.00 fuse or a $850 brake module, it was an on and off issue when he bought it and never had it further diagnosed. Some details are too big to forget, and I don't want to inherit the problem.

Probably better that way.
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