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  #25  
Old 02-02-2011, 03:24 PM
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Re: WK2 Overland Resale Value

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Originally Posted by mhassler View Post
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
Yes, I live in a state (NC) where they charge personal property taxes each year. If you don't pay the taxes they can garnish your wages or start taking property from you to pay the debt (ie car or house paid off or not)

If you have a legitimate business you can write off the new car on the taxes. If over 6,000lbs GVWR can depreciate most of the value the first year and or depreciate it over time. If less than 6,000lbs you depreciate it over time. Of course you can not be buying new vehicles all the time to write it off unless you are still making money. So someone/personal business that makes $100K/yr can write off $45K overland each year if they want to reduce their tax liability.
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  #26  
Old 02-02-2011, 03:36 PM
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Re: WK2 Overland Resale Value

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Originally Posted by 09JGC View Post
I agree lol sticking with my 2009 and I love it... the new WK2 doesn't look as good to me IMO


Sent from my iPhone using Tapatalk
K thanks for letting us know. Have fun with your 2009
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Old 02-02-2011, 03:41 PM
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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.....
Not sure exactly what having the car paid for has to do with selling it. Im not the OP who is already talking about selling his for the exact same thing in 2013, but I do go through cars rather quickly. I make great money and will be financing my car whats the big deal? Especially with the nice low rates these days I will gladly pay 3% interest rate over pulling $45,000 out of my bank account.
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Old 02-02-2011, 05:55 PM
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Re: WK2 Overland Resale Value

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Originally Posted by jeep2011 View Post
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
We will see. I still can't see it only depreciating 25% over 3 years, but you never know. Gas by me is almost $4 a gallon right now, but I don't see it being high in 3 years.
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Old 02-03-2011, 09:51 AM
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Re: WK2 Overland Resale Value

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Originally Posted by smoove7410 View Post
We will see. I still can't see it only depreciating 25% over 3 years, but you never know. Gas by me is almost $4 a gallon right now, but I don't see it being high in 3 years.
Yea, that ain't gonna happen.... Figure about a 45% depreciation over 3 years, closer to 50% if you are trading and not selling outright. You have to remember, the minute you drive off the lot it's now worth less than true dealer cost. Typically you can figure 15% depreciation (vs. MSRP) within 1 minute of taking ownership.....
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Old 02-03-2011, 02:31 PM
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Re: WK2 Overland Resale Value

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Originally Posted by Archer9 View Post
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.
here ya go - see if your accountant thinks this may apply to you this year

Generally, if you are an employee, to deduct your car expenses including expenses that exceed reimbursement under an accountable plan, you must complete Form 2106 (PDF) or Form 2106-EZ (PDF) and itemize your deductions on Form 1040, Schedule A. Your expenses will be subject to the 2% of adjusted gross income limit. Refer to Topic 508 for information on the 2% limit. If you are self-employed, car expenses are deductible on Form 1040, Schedule C (PDF) or Form 1040, Schedule C-EZ (PDF), or on Form 1040, Schedule F (PDF) if you are a farmer.
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Old 02-06-2011, 11:14 PM
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Re: WK2 Overland Resale Value

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Originally Posted by justin1569 View Post
Resale should be higher then most two year old vehicles since it's the top of the line model with low mileage and basically full bumper-bumper warranty.
Don't have any specific input on the absolute value of a new Overland in a few years but I will say that in terms of resale value percentage wise, well equipped vehicles generally have a lower resale percentage wise than lesser equipped vehicles. This is true for most vehicles (if not all).

You're spot on about being under warranty though.

-Adam
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Old 02-07-2011, 06:06 AM
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Re: WK2 Overland Resale Value

Not a chance any 2011 will be mid 30s in 2013. Check cars.com for 2008/2009 fully loaded Cherokees and they are well under 30k certified with low miles (asking price).

Matter of fact I know where you can find a '11 overland with hemi, 7500 miles, untitled for right around $38k today.
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