Smog Dog
Enthusiast
That's the way it is in Ohio, and several other states. BTW that's the only plus to living in Ohio.
Bill
Used market flood
- Thread starter commandomatt
- Start date
That's the way it is in Ohio, and several other states. BTW that's the only plus to living in Ohio.
Bill
05Commemorative
Enthusiast
Yes, exactly how you state on the taxes in our state and many others. The deal is you already paid tax on that 50K car, so when you trade it in, it is not simply a down payment, but an auto that has already paid its tax down payment. Then, when the dealers sells your trade-in, the new buyer pays tax on it again. As far as taxes go, one of the biggest games in the whole system that taxes keep getting paid on the same item over and over by each new owner.
ViperSmith
Enthusiast
CA double taxing you, no way 
denniskgb
Enthusiast
Sorry just speaking for the state i live in, new jersey. Trade is deducted from the selling price of the car. Taxes are paid on the difference
denniskgb
Enthusiast
All i was saying that if you are trading the viper but have a buyer for all the money you can get. Have the dealership do the "courtesy trade". Saves tax and and you are getting all the $$$$ for your car.
troublemaker
Enthusiast
I honestly think the Gen 3 and 4 are going to be the ones that will be for sale. It's usually a higher tax bracket buyer that owns the newer ones, which in my opinion are going to be the buyers of the Gen V. The earlier Generation owners are either a lower tax bracket buyer(me), or are in love with the looks of the Gen 1&2 and the new car just isn't going to do it for them. My 96 B&W is what I considered to be "the Viper" and even if my finances were to change drastically in the future, this one would still have a place in the garage.
In the State of Missouri it doesn't matter if you sell to a dealer or an individual. Either way, present bill of sale for the car you sold and the new car purchased to the DMV and you only pay taxes on the difference. In March '09, I sold one my '03's to a private party and purchased a new Gen IV in August '09, I only paid taxes on the difference. I'm sure this is true in a lot of States however; I believe you only have six months to take advantage of the
break..worth checking out.
break..worth checking out.
ViperSmith
Enthusiast
Wow that isn't a bad deal.
denniskgb
Enthusiast
We are beating a dead horse here. Even when the nissan gtr was introduced in 2009 at the sticker price of 74k, priced now in 2012 at 112k , super car that everybody would not stop talking about, the media, fans and all. They did not sell like everybody predicted. Some nissan dealers, good size dealers stopped ordering them and keeping them on their bank floor plan unless someone walks in and orders one with a good nonrefundable deposit. The price is definetely a factor. The new viper, "the working man supercar" has dramatically gone up in price before you add up the options. Time will tell whats gonna happen here. There are a few left over new unsold gen iv still collecting dust in some showrooms i am sure that dealers are giving away.
There will be more earlier Gens on the market for sure. I expect mostly Gen III and Gen IV.
However, the cost of stepping up is steep indeed: $50,000-$75,000 just for Gen IV owners; MUCH more for Gen I, II,and III.
In CA we definitely must pay sales tax on the entire price. Heck, in CA they just voted to ONLY raise state income taxes on buyesr of Vipers(!!) (Proposition 30), making our state income taxes the highests in the nation. So, we are certainly not going to get any breaks on funny arrangements for sales taxes (LLCs, etc.). The IRC Step Transaction as well as USE taxes would prevent any such activities.
For the cost of stepping up for the Gen II-looking Gen V, you could keep your Gen IV AND purchase a Camaro ZL1 (585hp and 2 extra seats) or a Mustang GT 500 (662hp and 2 extra seats) for double dates! While these other cars are surely inferior to the Viper, blah, blah, blah, the idea of being able to keep the Gen IV and have those cars is sobering.
Hopefully many new "conquest" buyers will move from other vehicles to Viper to keep Gen V demand high. I doubt just trade-ups from existing Viper faithful will be enough.
I sure hope we get a Volado or Gen V GTR (ALMS)-looking ACR with 700hp for no more than the GTS price. If not, then other options start to look interesting...
However, the cost of stepping up is steep indeed: $50,000-$75,000 just for Gen IV owners; MUCH more for Gen I, II,and III.
In CA we definitely must pay sales tax on the entire price. Heck, in CA they just voted to ONLY raise state income taxes on buyesr of Vipers(!!) (Proposition 30), making our state income taxes the highests in the nation. So, we are certainly not going to get any breaks on funny arrangements for sales taxes (LLCs, etc.). The IRC Step Transaction as well as USE taxes would prevent any such activities.
For the cost of stepping up for the Gen II-looking Gen V, you could keep your Gen IV AND purchase a Camaro ZL1 (585hp and 2 extra seats) or a Mustang GT 500 (662hp and 2 extra seats) for double dates! While these other cars are surely inferior to the Viper, blah, blah, blah, the idea of being able to keep the Gen IV and have those cars is sobering.
Hopefully many new "conquest" buyers will move from other vehicles to Viper to keep Gen V demand high. I doubt just trade-ups from existing Viper faithful will be enough.
I sure hope we get a Volado or Gen V GTR (ALMS)-looking ACR with 700hp for no more than the GTS price. If not, then other options start to look interesting...
The new V is a super car, but I think I'll keep my "Old" car for a bit longer. 
ViperSmith
Enthusiast
Considering MSRP for the 1994 viper was ~$60k, people are still getting $20k+ for them, it is insane. If my Gen V holds 33% value after 18 years, I'd be thrilled!
The M5 has a 48% residual after 3 years of leasing! (And yes, they aren't the same type of vehicle, I know)
The M5 has a 48% residual after 3 years of leasing! (And yes, they aren't the same type of vehicle, I know)
v10enomous
Enthusiast
Look at the GT500's. A new GT500 with 662hp is pushing a lot of virtually identical cars with 550hp and 500hp onto the market at bargain prices even though the new car is about 20% more expensive. The changes in the new Viper are far more compelling. Also look at the FGT's... The fact that they are no longer making FGT's has brought up the prices because of the lack of supply just like Viper prices were temporarily higher while they weren't making Vipers. The simple principles of supply and demand and "latest and greatest" will start to play out shortly but all Vipers are desirable and should continue to fare better than many other high end cars in terms of depreciation.
Well don't mean to spoil the weather forecast , but one year flood and next year drought, and with only 2 Vipers being traded in on all the orders we have , sure looks more like it could be a drought come Spring? Kinda think that since prices for Vipers ( all Gens ) have been pretty stable for more than a year, a new one on the horizon with a higher price will likely keep things at status quo - but just my own personal opinion based on buyers of the new Viper.
eucharistos
Enthusiast
georgethedog
Enthusiast
The right C6 is a great car and would be a better deal price wise than a Viper of the same year I would suspect. I would not mind a C6 Grand Sport Convertible.
ViperSmith
Enthusiast
I wish Ford would build a halo car like the GT again. Such an amazing vehicle, which has only gained value since it debuted. It would be great to have Chrysler and Ford chasing one another for super car status.
v10enomous
Enthusiast
He is right if in the State of Ohio
Paul Hawker
Enthusiast
Please correct me if I am wrong, but I thought only super low mileage FGT's held their value. That if you put normal miles on them, they loose value rapidly.
"Losing value" has a whole different meaning when it comes to FGT's.
Low mileage FGT's are going for 175-200+K depending on color. If you can find one with say 10-15K miles or more on it, that might be 150K.
Which is still OVER original MSRP.
Not bad for a 6-7 year old car. What's a 10-15K mileage 05 or 06 Viper going for compared to original MSRP?
Only American "supercar" I know of is the SSC Ultimate Aero. The rest are just "exotics". You sheeple and your silly car names "Supercar" now means anything with over 400HP. Now we have "hyper car", "super SUV", "super yacht", "mega yacht", "ultra car" etc. etc. It really is amusing watching this abuse of buzz words. Let's talk more about "game changers" "changing the game" "reinventing the game". "Epic".
The Viper is not a supercar guys. If you can't afford a real supercar, you don't have to stretch the truth so you feel like you own one. Be happy owning the best value American exotic to ever exist!
The Viper is not a supercar guys. If you can't afford a real supercar, you don't have to stretch the truth so you feel like you own one. Be happy owning the best value American exotic to ever exist!
VENOM V
Enthusiast
Sorry, but I just can't take this post serious. Dude, you've got the snob meter pegged. Does it really bother you that much that Viper owners are passionate about their cars?
Professor Toe Yoda,
" Lexus LFA is twue supacaw! Viper not supacaw! "
Sir Pent La Doce Vita,
" Sowa dat woulda makuh a 2010 ACR the Uber Supermachine, as it's machismo rippa da track in Germanknee ovurr datta Japaknease auto."
Mary Can,
" Hmmm, logic says 2010 we had a SuperCar, so I would have to respond that a Generation extended would make the new 2013 a veritable Super Supercar." " But then, I am Mary Can !!!!"
" Lexus LFA is twue supacaw! Viper not supacaw! "
Sir Pent La Doce Vita,
" Sowa dat woulda makuh a 2010 ACR the Uber Supermachine, as it's machismo rippa da track in Germanknee ovurr datta Japaknease auto."
Mary Can,
" Hmmm, logic says 2010 we had a SuperCar, so I would have to respond that a Generation extended would make the new 2013 a veritable Super Supercar." " But then, I am Mary Can !!!!"
mnc2886
Enthusiast
Why are we starting this again? Who cares? If I call a woman a '10' it's the same thing. Call it a '10' or call it an '8' if you want. Either way, you'd still throw it to her...errrr drive the car.
emericr
Enthusiast
It depends on the state but what we are referring is that when you trade your vehicle with the dealer, you pay sales tax on only the difference between the new car price and your trade in.
The only issue is when you sale private party, most buyers will declare a different price to the authority to lower the sales tax impact so most buyers will not want to pay a dealer fee and the higher sales tax.
Back on topic, yes there will be more Vipers on the market and the value will drop. This is what happens when a new model is introduced and the Viper is not immune.
I have decided to wait till 2013/2014 so that the fever comes down and the bugs are worked out. Meanwhile I will enjoy my new 4 door sedan coming in January that is as fast or faster than the new Gen V.
The only issue is when you sale private party, most buyers will declare a different price to the authority to lower the sales tax impact so most buyers will not want to pay a dealer fee and the higher sales tax.
Back on topic, yes there will be more Vipers on the market and the value will drop. This is what happens when a new model is introduced and the Viper is not immune.
I have decided to wait till 2013/2014 so that the fever comes down and the bugs are worked out. Meanwhile I will enjoy my new 4 door sedan coming in January that is as fast or faster than the new Gen V.
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