Got a quote from Carmax here in Scottsdale on the '22 110 X-Dynamic with 3K miles....
$91,000

Paid $81,000 back in June

 

As stated by others, I would not even break even, so what is the point? Our tax is 10% here. Plus tags and title and it is a wash.The lure of a quick $10k is eclipsed by the fees and tax. Plus, I bought the car because I wanted it. Didn't you?

I don't get why people buy these then turn around and sell them. I am tired and grumpy. Sorry.

I have been told by friends to just let others do what they do with their own time and money and stop getting bothered by it. Alas, I never learn. Hahaha.

Some day I will learn to subscribe to the Sheryl Crow maxim: "if it makes you happy then it can't be that bad." Perhaps that will happen in my 80s. Here's to hoping.

Michael

 

There's a bit of back story on mine - ordered in Feb. New dealership, sales rep didn't have a clue, model year changed from 2021 to 2022 and when the vehicle arrived it wasn't what I ordered. (I ordered an X with the black and tan interior and what came was an X-Defender with acorn interior, wrong wheels and no clearsight rear camera) I took delivery in June in spite of it not being the vehicle I ordered and placed another order which still has yet to be built.

In the meantime Jeep comes out with their redesigned Grand Cherokee which fully spec'd is $71k and I'd argue has better sound system, better seats, better infotainment system, and matches off with air-suspension, off road capabilities, towing ability. It might not have the looks and the allure of a LR, but for me, the GC will be more than fine. So I'm going to take advantage of the Carmax offer as the GC should arrive before the end of the year.

 

Got it. Makes sense. Hope that new GC works out.

BTW, I was just being cranky in my post.

Michael

 

I think some of this is that we're so used to our vehicles using 20% or more the minute you drove off the lot so it's nice, for once, for the value to hold or increase and be likely to remain that way for a while until the supply chain issues sort themselves out.

 

Bittersweet day today. Traded my Defender into a Land Rover dealership. They offered the same value as Carmax. My Defender 110SE was $74K MSRP and traded it today for $84K. I'll wait till the market normalizes(if that ever happend) and buy another one.

 

Hi:

Did you get the spec wrong when you ordered it and are dissatisfied with it? Just curious why you sold it just to buy another down the line. That is the part that I do not understand.

Maybe my assumptions are incorrect. I assume that you buy the car because you like it. I also assume that money is not an issue because it is a pricey car to begin with.

If you don't need the money for a crisis(which is nothing for me to make light of), then why sell it just to buy another down the line? And why does the higher used car value in the current market cause you to sell it for a few extra thousand at best?

Then you plan on buying another one. This is based on me not understanding why you need to make comparitively little money but have enough money to buy the car in the first place. And then you have the hassle of having to do it again down the line when Land Rover has already raised their prices at least once since you bought yours.

Those are my questions. I am not getting it. Maybe you have no sales tax in your state. That is actually something I did not consider.

Thanks for putting up with these questions.

--Michael

 

The Defender came exactly how I ordered/wanted it. I really liked the car, however, I like a lot of cars. Once it became profitable to sell it became like any other invest to me. I didn't purchase it initially as an investment but that changed when the market went up. I've owned the Defender for 6 months and was able to turn an almost 14% profit. I'll take that on any of my investments.

There is sales tax in my state, but that tax is off set on a new vehicle by the value of the vehicle you trade in. So I found the dealer that would offer me the most for the Defender and then asked them to to a buy bid from whatever dealer I found another car I would be willing to drive and for the right price. Took me about a week and a half of phone calls to find a new vehicle for a decent price with a dealer that would also do the buy bid for my Defender. So in the end I paid no additional sales tax on the new vehicle and was able to pocket the $10k from the Defender sale.

I would absolutely buy another Defender down the road. After owning an electric car(didn't own when I ordered the Defender) I realized that I like the benefits of an EV and can live with the negatives. So, when an EV Defender becomes available in the US I'll be in line to get one. Assuming dealers aren't putting crazy market adjustments on them.

 

That all makes sense. Thanks for clarifying.

Illinois changed the trade-in tax exemption a couple of years ago. The trade-in used to be tax free.
Now you get an exemption for the first ten thousand then you pay tax for the remainder. 10% sales tax.

We kind of get screwed.

--Michael

 

My stress level went up just reading that. You're going to stroke out if you can't find a way to get at least a little unstrung. No offense, it's with good intentions.