The tax code has been called a crime against humanity by none other than former President Jimmy Carter. There are many problems with it, but one is the twisted logic that results in a saving being considered a gain. The classic example of this is the game show contestant. Let’s say they go ahead and win the game. The money, cars, trips and other winnings are all nice and all, but they are also taxable. In fact, many winners end up selling most of the things they win to pay the taxes. They get to keep the rest, of course, so it is not all bad.
Issues arise when you look forward to get some money in exchange of your old vehicle. It gets very difficult for people to find a dealer in order to sell their vehicles when it has been used for long. In many places of the United States it will be actually difficult for you to sell junk cars for cash. Boulder in Colorado has many dealers who are into the business of junk automobiles.
My suggestion to those that qualify is to take the cash back and then apply for a loan at a local credit union. Their rates are very low and with the cash back, you will have paid off $1,500 + $4,500 + $2,500 = $8,500 of the new cars price. This leaves very little principle left and the credit unions will give you a loan for 6 years because of the new car status. The payments would be extremely low for most vehicles…under $200 a month. And the interest you pay should be under the cash back you received. And let’s not forget the increase in gas mileage you will attain. This will save you thousands over the life of the vehicle.
To buy used Chevrolet used cars, you must find places where Chevrolet cars are sold. When you search for used car auctions and sales on the Internet you will find much information. Some auctions allow you to register and participate in sales online. Online auctions provide means for buyers to assess the condition of the car (such as providing independent condition reports) which take a lot of the uncertainty out of buying used cars online.
The best way to buy cars cheap is to do your research, find the right auction and know what price you should be paying. Nowadays many auctions are conducted online. If you know what you are doing and can arrange transportation, that means it is a cinch to buy inter-state, or even from abroad.
If you’re concerned about keeping up with traffic, don’t be. Just make sure you get a motor that is powerful enough to counteract the weight of your vehicle, including the batteries you are going to install. Electric motors have a lot more torque available, so acceleration is not a problem. This is not a slow electric golf cart you are building. It is quick, responsive and smooth. At stop lights you will be able to keep up with any vehicle off the line.
Air Conditioning Compressors bring a few bucks too… Most cars that I scrap out have the air conditioning compressor just below the alternator. So while you’re right there, you might as well take out the four screws holding it in place (most models) while you’re at it. That will add an additional $3.00-$8.00 profit for you.
Once the analysis is completed, it is advised to start calling around to various buyers. The most credible salvaged car buyers are junk car removal companies, scrap yards, and “montgomery chevrolet” services. These are the industries that pay the most for salvaged, wrecked, and junked vehicles. It is important to contact multiple businesses, even if they are not in your area. This type of research will give you an idea for the going rate of the junk vehicle you have and the condition it is in; then you can confidently distinguish between fair offers and potential scams.
That is why you can call it cheap seized SUV auctions. Usually, they are being repossessed from people who cannot afford to pay their taxes. In general, government agencies do not have unlimited space to store all these repossessed vehicles. That’s why cheap seized SUV auctions are available to the public.
