Tax refund car buying..

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krismoriah72

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Every year i end up buying 1 or 2 sometimes 3 cars during tax time. A few weeks ago i bought a 2006 Suzuki Forenza that needed a $14 transmission control module for $300.. fixed with sensor, did oil change/air filter and sold for $1250.

Today looking at 2006 Oldsmobile Silhouette (leather/dvd/loaded).. 145K miles needs front wheel bearing. $400.

Also excited about 2004 Honda Pilot EX 220K miles.. daily driver so dont know what it needs. $300

The Suzuki was sold because the owner was buying a nicer car with her tax refund... The same car was bought by a person who received their refund and had no car.

I cant imagine the amount of cars that are traded in during these times.
 
There will be many shopping carts at Walmart with big-a** TVs too !
 
Originally Posted by csandste
Try never to get a tax refund but was forced to buy a cat a year ago and hopefully will never have to make a car purchase in March or April either.



Forced to buy a cat eh? I like cats.
 
Originally Posted by Chris142
You wont find cars in that price range around here.



+1

Also those who depend on tax refunds for purchases are not very good with money/budgeting.
 
Originally Posted by AZjeff
Well done, it sounds like you have nice business model there.

Amusing that we applaud a guy doing this but hate dealerships who seldom if ever get 4X what they gave for a car.

Its a hobby with benefits. The Suzuki (i was wrong it was a transmission range sensor).. the owner was told that it needed a new transmission.. as it would not shift into drive on the highway. and it bucked when selecting gears. The seller thought that $1000+ was too much to fix it and let it go for $300.. Which in the end was the worth of the car. FWIW i posted the car on fb marketplace and had 20 interested parties within a couple of hours. It sold within 3 hours.. So there is a demand for cheaper cars..
 
Originally Posted by krismoriah72
Originally Posted by AZjeff
Well done, it sounds like you have nice business model there.

Amusing that we applaud a guy doing this but hate dealerships who seldom if ever get 4X what they gave for a car.

Its a hobby with benefits. The Suzuki (i was wrong it was a transmission range sensor).. the owner was told that it needed a new transmission.. as it would not shift into drive on the highway. and it bucked when selecting gears. The seller thought that $1000+ was too much to fix it and let it go for $300.. Which in the end was the worth of the car. FWIW i posted the car on fb marketplace and had 20 interested parties within a couple of hours. It sold within 3 hours.. So there is a demand for cheaper cars..

Sounds like it was perhaps fun too. What they heck, you just have to be right most of the time to make a buck.

We goofed and our refund will be up there, but still not quite as much as I'd want to spend on getting another car.
 
Originally Posted by jeepman3071
Originally Posted by Chris142
You wont find cars in that price range around here.



+1

Also those who depend on tax refunds for purchases are not very good with money/budgeting.



At least they're not buying a fancy brand new phone or designer shoes and bags...
lol.gif
 
Originally Posted by EdwardC
Originally Posted by jeepman3071
Originally Posted by Chris142
You wont find cars in that price range around here.



+1

Also those who depend on tax refunds for purchases are not very good with money/budgeting.



At least they're not buying a fancy brand new phone or designer shoes and bags...
lol.gif




They probably have to depend on refunds for major purchases because they are always buying new phones and designer bags.
lol.gif
 
Originally Posted by BMWTurboDzl
Originally Posted by csandste
Try never to get a tax refund but was forced to buy a cat a year ago and hopefully will never have to make a car purchase in March or April either.



Forced to buy a cat eh? I like cats.


My Maine Coon Cat only burns a quart of Valvoline conventional every five thousand miles.
 
Last edited:
Originally Posted by Chris142
You wont find cars in that price range around here.


For sure but good deals can still be negotiated and you don't need to worry about rust, which is a huge plus, so higher prices are to be expected.

At the end of 2018 I aquiried an 07 Ford Focus with a broken clutch. Single owner and in good shape otherwise. They were asking $2k for it. I got it for $750 and fixed it up for about $70 worth of parts. I drive it currently, but with the tax refund time I'm planning on putting it up for sale.
 
Originally Posted by jeepman3071
Originally Posted by Chris142
You wont find cars in that price range around here.



+1

Also those who depend on tax refunds for purchases are not very good with money/budgeting.


Yeah, I don't understand those that have a tax refund. I end up owing money every year which is fine with me as it's better to get an interest free loan from the government rather than give them one.
 
Originally Posted by Wolf359
Originally Posted by jeepman3071
Originally Posted by Chris142
You wont find cars in that price range around here.



+1

Also those who depend on tax refunds for purchases are not very good with money/budgeting.


Yeah, I don't understand those that have a tax refund. I end up owing money every year which is fine with me as it's better to get an interest free loan from the government rather than give them one.

I try to aim for zero but often forget to check in over the course of the year. I don't understand why I can't tell the IRS what value to take, but instead have to use some sort of grade (use x deductions)--I keep a budget and can predict what I will need to pay, and can divide that by 26 to get withholding close enough. But then life goes on and I don't think about it, not until tax time.
 
Originally Posted by csandste
My Maine Coon Cat only burns a quart of Valvoline conventional every five thousand miles.

Neither of our Siamese cats require oil, except maybe a few drops of Mineral, if they are bound up.
 
Will see more disappointed people this year though. New tax law and many middle/lower class that are use to a $XXXX refund will get 3 digit or maybe owe.

Me and the SO did the calculation last year and changed our W4 to match the new law. Most did not so they will be surprised, not a good surprise.
 
Originally Posted by csandste
Originally Posted by BMWTurboDzl
Originally Posted by csandste
Try never to get a tax refund but was forced to buy a cat a year ago and hopefully will never have to make a car purchase in March or April either.



Forced to buy a cat eh? I like cats.


My Maine Coon Cat only burns a quart of Valvoline conventional every five thousand miles.


lol.gif
 
Last year we received ~1k refund. This year we owe $900. However our overall federal income tax paid was decreased by ~$3k with roughly the same income.

And this year I hope to replace my wife's beloved 2010 RAV4 with 225k miles for something newer.
 
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