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  #13  
Old 02-01-2011, 09:48 PM
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Re: WK2 Overland Resale Value

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Originally Posted by Rosewood View Post
not to be a jerk but some of you guys have no clue. my accountant makes me buy a new vehicle every three to four years. get to use it, company pays for everything, write off the cost and then depreciate it. there are valid reasons to toss a vehicle after two years, and possible tax savings.

lol riiight I have no clue. I have probably had more cars in my 14 years of driving than some people have had in a lifetime. I can tell you from experience that my decisions of keeping cars for short periods and selling is NOT a smart thing to do financially. Sure I have turned a few cars around and sold for more, but for the most part, you lose your ass big time. Some people may be able to handle that financially, but if money is tight then no I absolutely do not recommend doing that.

In this case I would say a 2011 Overland will be worth low to mid 30's in 2013ish. Give or take depending on options obviously. A late built 2011 with adaptive cruise and other options being worth the most. An early built one with no quadralift no ACC etc etc being the lower of the bunch.
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  #14  
Old 02-01-2011, 10:56 PM
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Re: WK2 Overland Resale Value

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Originally Posted by JTS97Z28 View Post
lol riiight I have no clue. I have probably had more cars in my 14 years of driving than some people have had in a lifetime. I can tell you from experience that my decisions of keeping cars for short periods and selling is NOT a smart thing to do financially. Sure I have turned a few cars around and sold for more, but for the most part, you lose your ass big time. Some people may be able to handle that financially, but if money is tight then no I absolutely do not recommend doing that.

In this case I would say a 2011 Overland will be worth low to mid 30's in 2013ish. Give or take depending on options obviously. A late built 2011 with adaptive cruise and other options being worth the most. An early built one with no quadralift no ACC etc etc being the lower of the bunch.
hence the word "some". all i was saying is that there are good reasons for selling every two years. total write off the first two years plus 80% depreciation the first year (depending on the vehicle) 50k minus 80% depreciation value is a 40k reduction in tax liability.

the first year i owned my dodge 2500 diesel i saved enough in reduced tax liability to pay the thing off. granted i had a large down payment and it qualified for the 80% first year depreciation due to its size, weight and classification.
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Old 02-01-2011, 11:03 PM
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Re: WK2 Overland Resale Value

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Originally Posted by smoove7410 View Post
^^^In my experience with Chryco cars/trucks, within three years, prices are generally at 50% of new. I expect in three years to see used 11' overlands for 22k-25k.
Thats pushing it a bit. If gas goes back to $4-$5/gallon yes. Otherwise they will probably be around $28-30K in a few years. I am sure you can get a 4x2 or ragged out one for $22-25K
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Old 02-01-2011, 11:53 PM
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Re: WK2 Overland Resale Value

Its funny....most of you guys probably wont have your vehicle paid for fully, and your talking about selling, loosing money etc etc.

You new WK2 crowd are hilarious.....
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Old 02-02-2011, 12:46 AM
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Its funny....most of you guys probably wont have your vehicle paid for fully, and your talking about selling, loosing money etc etc.

You new WK2 crowd are hilarious.....
I agree lol sticking with my 2009 and I love it... the new WK2 doesn't look as good to me IMO


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  #18  
Old 02-02-2011, 09:37 AM
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Re: WK2 Overland Resale Value

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Originally Posted by White Chocolate View Post
Its funny....most of you guys probably wont have your vehicle paid for fully, and your talking about selling, loosing money etc etc.

You new WK2 crowd are hilarious.....
What does having a car paid for have to do with anything? Even when your car is fully paid for you don't own it. If you don't pay your taxes, tags, or registration they can take it away. Anyway you look at it a car isn't an asset and your always loosing money on it....it just depends on how much.
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Old 02-02-2011, 10:14 AM
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Re: WK2 Overland Resale Value

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Originally Posted by Rosewood View Post
hence the word "some". all i was saying is that there are good reasons for selling every two years. total write off the first two years plus 80% depreciation the first year (depending on the vehicle) 50k minus 80% depreciation value is a 40k reduction in tax liability.

the first year i owned my dodge 2500 diesel i saved enough in reduced tax liability to pay the thing off. granted i had a large down payment and it qualified for the 80% first year depreciation due to its size, weight and classification.
I'm in the same boat, I have my own business and get to buy (or lease) and use it to reduce my taxable incoming while having a side benefit of driving a new vehicle.

However, the person who responded to you is still correct. We are still spending money to buy these cars....We may get a 40% discount, but it's still financially wiser to simply drive a cheaper (paid for) vehicle and pay yourself mileage...to the point where you can actually make a tax free profit.

I'm not knocking your method, I do it myself, but I don't "save" money by buying a new $45k vehicle every 3 years. I just spend less than others who buy with their after-tax cash.

-Ryan
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  #20  
Old 02-02-2011, 12:09 PM
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Re: WK2 Overland Resale Value

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Originally Posted by rybocf View Post
I'm in the same boat, I have my own business and get to buy (or lease) and use it to reduce my taxable incoming while having a side benefit of driving a new vehicle.

However, the person who responded to you is still correct. We are still spending money to buy these cars....We may get a 40% discount, but it's still financially wiser to simply drive a cheaper (paid for) vehicle and pay yourself mileage...to the point where you can actually make a tax free profit.

I'm not knocking your method, I do it myself, but I don't "save" money by buying a new $45k vehicle every 3 years. I just spend less than others who buy with their after-tax cash.

-Ryan
that is an excellent point of view and obviosly I could not have stated it better. I think the disconnect is coming from the point of view.
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Old 02-02-2011, 12:24 PM
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Re: WK2 Overland Resale Value

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Originally Posted by GC2011 View Post
What does having a car paid for have to do with anything? Even when your car is fully paid for you don't own it. If you don't pay your taxes, tags, or registration they can take it away. Anyway you look at it a car isn't an asset and your always loosing money on it....it just depends on how much.
What state or country do you live in? When you pay off your loan (or if you buy straight cash), hold title and the SIF is released, the car is yours.

What taxes and tags are you paying AFTER you have paid it off? In MD you pay one-time tax on the purchase price and the titling & tag fees. If you buy new this is incorporated in the purchase price of the vehicle. Yes, you have to re-register the vehicle every two years, but it is still yours. Its not like the State owns it.


This thread was making my head hurt for a while... I buy cars, sell them a year or two later, take the hit and move on (I've had 12 cars, counting the WK2 since I started driving 13-yrs ago, 9 of which were in the last 7-yrs). I buy a car because I want the car to drive and to enjoy. There are not many people that are in the business of buying cars to make money. Those that are, are called collectors and the cars they are buying are rarely, if ever, driven.

You special guys that buy cars as a business expense and get to write them off, only to get a new one in 2-3 years... well, I want that job
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  #22  
Old 02-02-2011, 12:42 PM
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Re: WK2 Overland Resale Value

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Originally Posted by mhassler View Post

What taxes and tags are you paying AFTER you have paid it off?
In several states, you have personal property taxes on the vehicles you own. In Missouri, they assess your vehicles every year, and those taxes go for assorted county expenses (schools, police, fire, etc.). Our registration fees are fairly low (about $40 or so every year), but the personal property tax is what funds the government, not the vehicle registrations.

In other states (like Iowa), you don't have personal property tax, but vehicle registration fees are correspondingly higher, so you pay pretty much the same amount anyway.
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Old 02-02-2011, 12:48 PM
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Re: WK2 Overland Resale Value

In my area in Dec 2008, one year old WKs were going at 50% depreciation (at the dealer!). I like a bargain so I have my sales receipt to prove it. But if that's not brutal for the first buyer, then what is?

Buying for personal or business use are two separate issues. In personal use it's your own wallet that feels the hurt. For businesses, it's the taxpayer that pays for the depreciation. In either case someone loses big time in the first two years of ownership of any vehicle.
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Old 02-02-2011, 02:32 PM
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Re: WK2 Overland Resale Value

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Originally Posted by Technosavant View Post
In several states, you have personal property taxes on the vehicles you own. In Missouri, they assess your vehicles every year, and those taxes go for assorted county expenses (schools, police, fire, etc.). Our registration fees are fairly low (about $40 or so every year), but the personal property tax is what funds the government, not the vehicle registrations.

In other states (like Iowa), you don't have personal property tax, but vehicle registration fees are correspondingly higher, so you pay pretty much the same amount anyway.
Yes this is true, guess its the way you look at it. Registration in MD is paid bi-annually, I think it is like $150 for SUVs which is a lot. And, that money is used for schools, municpal buidlings, etc. But I don't consider it a tax. Its a fee because 1) it's not based on assessed value (like our property tax is) and 2) it is standard across the board per vehicle type. Whatever you call it, its money out of my pocket that I'd rather spend modifying my Jeep

My point was that you still own the vehicle, not the state. Maryland can't take it away from me. If I get caught driving without proper registration I'll pay a hefty fine and points will be added to my license. And, if I got enough points my license would be suspended. If it got that far I would still have my un-registered Jeep and no license to drive it
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