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re: Questions re: "in and out" vehicle purchase
Posted on 1/25/16 at 10:26 pm to Croacka
Posted on 1/25/16 at 10:26 pm to Croacka
That's basically what I'm trying to do but I don't want the dealer trying to add-on all kind of extra "fees" because the vehicle is worth more than the trade-in.
I've already agreed on a price with the current owner of the vehicle -- it just can't be sold directly to me b/c it's business owned and the business would have to recognize income on the sale whereas if it's just traded-in then no tax consequences for the business.
I've already agreed on a price with the current owner of the vehicle -- it just can't be sold directly to me b/c it's business owned and the business would have to recognize income on the sale whereas if it's just traded-in then no tax consequences for the business.
1
Posted on 1/25/16 at 10:30 pm to Golfer2012
At my dealership, everyone knows what an 'in & out sale' is. We charge a small fee, but its not a time consuming process and not usually a problem. And yes, whatever the amount the vehicle was traded in for, that is what the 'buyer' pays for vehicle, regardless of value. GL
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