Automotive bubble....has it burst?

StretchASU said:
It’s definitely tax return season. I’ve seen more 30 day tags on used vehicles in the last two weeks than I have in the last few months.
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Yeah and Im loaded up w axles I need to get sold.
 
NickMaul said:
If you’re getting refunds from the government to go out and buy an overpriced truck after filing then you are doing your taxes all wrong :flipoff2:
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I don't know - its your money to begin with anyway. For some people this is a way to force some "savings" so they get it all at once to spend, because otherwise they'd never let it accumulate.
 
NickMaul said:
If you’re getting refunds from the government to go out and buy an overpriced truck after filing then you are doing your taxes all wrong :flipoff2:
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Not necessarily. I've had a CPA do mine for years. Last 9 years I have almost always gotten a refund. Mainly because I pay alimony. Last year we paid because my wife made too much money that was not taxed....
RatLabGuy said:
I don't know - its your money to begin with anyway. For some people this is a way to force some "savings" so they get it all at once to spend, because otherwise they'd never let it accumulate.
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I can see this.
 
RatLabGuy said:
I don't know - its your money to begin with anyway. For some people this is a way to force some "savings" so they get it all at once to spend, because otherwise they'd never let it accumulate.
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It’s an interest free loan to the government in my eyes :shaking: Our refund is typically less than $1k which doesn’t really keep me up at night but I’ll be damned if I am missing out investing that money early instead.
 
NickMaul said:
It’s an interest free loan to the government in my eyes :shaking: Our refund is typically less than $1k which doesn’t really keep me up at night but I’ll be damned if I am missing out investing that money early instead.
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I'm the same. Some years I've had to pay a small amount depending on how much side work I've done.
 
NickMaul said:
It’s an interest free loan to the government in my eyes :shaking: Our refund is typically less than $1k which doesn’t really keep me up at night
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I agree and am in the same boat, I shoot to break even but usually owe a small amount.
NickMaul said:
but I’ll be damned if I am missing out investing that money early instead.
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However you're thinking like a guy that is savvy with money and sounds like you know how to use it wisely. That's not everybody. Or even a big chunk of people. I see nothing wrong with letting those people have some safety fallback AND facilitate some cash flow for the government to operate.

And honestly if you do the math, unless your refund is absolutely ridiculous, like 5 figures, the amount of $$ you would make investing it is pretty small.
 
This is at a used lot up the road from me. $66,000 for a 5 year old truck with 71k miles. Does not compute.

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RatLabGuy said:
I think you misunderstand.
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The general public doesn't have a clue or care to learn how taxes work, how much they pay, whos in charge of them, where the money goes, or how bad the waste is.
They aren't doing it for forced savings or anything that involves forward thinking. Most people don't think past the next second.
If the masses (or even a large # of taxpayers) did know and/or understand, then the code and rules and laws would be revolted against immediately.
 
RatLabGuy said:
I don't know - its your money to begin with anyway. For some people this is a way to force some "savings" so they get it all at once to spend, because otherwise they'd never let it accumulate.
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So many people I hear get back 6-10k “refund” those people haven’t paid in half of that. It’s a welfare check. People need to understand that! If you pay in 15k and get 5 back that’s a refund. If you pay in 2 and get back 10 it’s welfare.
 
benXJ said:
The general public doesn't have a clue or care to learn how taxes work, how much they pay, whos in charge of them, where the money goes, or how bad the waste is.
They aren't doing it for forced savings or anything that involves forward thinking. Most people don't think past the next second.
If the masses (or even a large # of taxpayers) did know and/or understand, then the code and rules and laws would be revolted against immediately.
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I agree with you. Which means you definitely misunderstood what I was saying.
 
Noel said:
So many people I hear get back 6-10k “refund” those people haven’t paid in half of that. It’s a welfare check. People need to understand that! If you pay in 15k and get 5 back that’s a refund. If you pay in 2 and get back 10 it’s welfare.
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My nephews stepsister gets 10K + about every year.Files taxes as soon as she can and by late Feb is broke.Drives a 15 yo buy here,pay here mini van and rents,BUT I hear her husband has a pretty extensive Hot Wheels collection.:shaking:
 
drkelly said:
This is at a used lot up the road from me. $66,000 for a 5 year old truck with 71k miles. Does not compute.

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Sure it does. I know a guy that waited almost a year for Ford to deliver his F350, and it likely stickered for $30k more than that. Save 1/3 to get a lightly used truck today vs wait indefinitely...?
 
RatLabGuy said:
Which means you definitely misunderstood what I was saying.
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You should practice elucidating your opinions in a way that other people can understand them.
 
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