Selling my 2025 DH and the market is in the tank

[Alex381]

Tax deduction on new car interest? My gob is thoroughly smacked. We get tax deductions on nothing.

It’s from the BBB that passed over the summer.

New. Personal use. final Assembly in America.
You can deduct up to $10k in paid interest. Income under $100k ind. or $200k married filing jointly.

ultimately it comes down to your top tax braket. I’m in the 22% range so it’ll save me about $600 off my federal taxes For the first year.

I have the money parked in a high yield savings account. So my true interest rate is a bit under 3%. I can live with that. Though I will definitely be paying off the car by the end of 2026.

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[NuclearDiode]

The Dark Horse is just not a desirable vehicle. It has literally no historical heritage like a GT350 or Mach 1, and some people value the heritage.

And for the same amount ($70K-$80K), getting a C8 is a superior option for a non-biased buyer. Unless they want a MT6, but yours is a 10R80 (the C8 DCT is superior). Just try to find some sucker that actually wants one to buy.

 

[BimmerDriver]

S O L D -
Yesterday for $65K outright sale to an Online Car Wholesaler / Auction house.

Unfortunately that was the highest bid I could get and I'm told that was pretty good under these dire circumstances. So we will sell the house and move - and then in March I will be ordering an SC to replace this.

First, congrats!

Second, good luck with the SC, that should be a blast.

Third, I've sold a few expensive one year old cars recently, and I had to go the same route... place an ad and wait for one of these wholesaler-type dealers to buy it. Upside is that they pay promptly and no games like you may get from individuals/private buyers. Downside is that you get a little less money, but it can take months to sell a car privately, and the whole time it is continuing to depreciate. So you may not maximize the return, but you surely do reduce the risk.

I think you did well (not that I think he cares what I think). LOL

 

[Frogdog1]

The Dark Horse is just not a desirable vehicle. It has literally no historical heritage like a GT350 or Mach 1, and some people value the heritage.

And for the same amount ($70K-$80K), getting a C8 is a superior option for a non-biased buyer. Unless they want a MT6, but yours is a 10R80 (the C8 DCT is superior). Just try to find some sucker that actually wants one to buy.

ANYTHING can be sold. Look at what people drive and other things they spend money on.

 

[Junkyard Dog]

And for the same amount ($70K-$80K), getting a C8 is a superior option for a non-biased buyer. Unless they want a MT6, but yours is a 10R80 (the C8 DCT is superior). Just try to find some sucker that actually wants one to buy.

Not if you need a back seat but want to track the car in addition to using it for actual driving on the street.

 

[LouG]

The Dark Horse is just not a desirable vehicle. It has literally no historical heritage like a GT350 or Mach 1, and some people value the heritage.

And for the same amount ($70K-$80K), getting a C8 is a superior option for a non-biased buyer. Unless they want a MT6, but yours is a 10R80 (the C8 DCT is superior). Just try to find some sucker that actually wants one to buy.

I would have, for the handling improvements. But time and dollars worked against me.
I don't care about heritage apart from it being a Mustang. I don't want a mid engined car with all the access hassles they have.
There'll be quite a few people who'll think the same.

 

[LouG]

It’s from the BBB that passed over the summer.

New. Personal use. final Assembly in America.
You can deduct up to $10k in paid interest. Income under $100k ind. or $200k married filing jointly.

ultimately it comes down to your top tax braket. I’m in the 22% range so it’ll save me about $600 off my federal taxes For the first year.

I have the money parked in a high yield savings account. So my true interest rate is a bit under 3%. I can live with that. Though I will definitely be paying off the car by the end of 2026.

You guys are fortunate to have a tax system like that. Ours is pay as you earn (PAYE) for wage/salary earners and the only deduction you can get is charitable donations, and that's limited.

 

[Ryunker]

The Dark Horse is just not a desirable vehicle. It has literally no historical heritage like a GT350 or Mach 1, and some people value the heritage.

And for the same amount ($70K-$80K), getting a C8 is a superior option for a non-biased buyer. Unless they want a MT6, but yours is a 10R80 (the C8 DCT is superior). Just try to find some sucker that actually wants one to buy.

Just not true.

 

[LouG]

We're going to need it. But, my realtor is damned good looking, so it isn't all bad. She gives great hugs too, LOL! The best hugs ever, so this will be a slow house hunt, LOL!!

Yeah, I've seen movies like that

 

[Frogdog1]

Yeah, I've seen movies like that

She still sends chills down my back, LOL! What tops it off is she has brains too! I would buy anything from that woman..... She's downright dangerous and gave me a hug from heaven when I gave her the listing on my house which, trust me, was a merit based decision. Not sure you would trust me on that at this point.....

 

[Ken H.]

The Dark Horse is just not a desirable vehicle. It has literally no historical heritage like a GT350 or Mach 1, and some people value the heritage.

And for the same amount ($70K-$80K), getting a C8 is a superior option for a non-biased buyer. Unless they want a MT6, but yours is a 10R80 (the C8 DCT is superior). Just try to find some sucker that actually wants one to buy.

May be true for some people but not for me. My DH was desirable. I liked the look & sound. I liked the Mustang heritage. Easier to get into & out of than a Corvette. Trunk & back seat a plus. The exhaust/engine sound is better than a Corvette. Every time I drive it, I have a big smile on my face.
I have a C8 Z06. Its transmission is better than the 10R80. The car is better than the DH (I know it’s not the base C8 & it cost twice as much as the DH). But something about the Mustang appeals to me.
To each his own. Sorry you don’t get the same rush.

 

[Ken H.]

May be true for some people but not for me. My DH was desirable. I liked the look & sound. I liked the Mustang heritage. Easier to get into & out of than a Corvette. Trunk & back seat a plus. The exhaust/engine sound is better than a Corvette. Every time I drive it, I have a big smile on my face.
I have a C8 Z06. Its transmission is better than the 10R80. The car is better than the DH (I know it’s not the base C8 & it cost twice as much as the DH). But something about the Mustang appeals to me.
To each his own. Sorry you don’t get the same rush.

PS. I’ve driven the DH at the Ford Racing School & the C8 Stingray & the C8 Z06 at the Ron Fellows Corvette School. Drove both as hard as I could. No holds barred. The DH is no slouch. It took all I could give it in stride.

 

[Will2]

Cycled through 4-5 new cars the last couple years and noticed when a car is still within a couple years old, trade-in value hovers around the same level. So it doesn't make sense to trade within 1-2yr, if one can resist the urge (I apparently cannot).

 

[JimiHendrix]

....who is the idiot (JH) who started this thread and why do we allow the click bait from these Mustang bashing morons?

Wow look at this - one of the "expert car guys" prior post known as "MAT1955" about how he never knocks anyones threads read the first sentence: guess this guy is just full of SH*T...

I'd never knock a thread BUT this constant recurring talk about corvettes - isn't there a forum for delusional corvette owners, somewhere?????......I don't care how much faster a friggin' corvette is. My friend has one I have accompanied him to their coffee and cars ...... looks like a bunch of seniors playing with transformer toys. Effin uglier every year. Then I start my GT to leave and and they all turn around - I bet, until they see the stang, they all wonder who got his 'vette to sound so good. I used to like corvettes but the last decade - effin ugly junk. Give me one and I wouldn't be seen driving it - put it right up for sale and buy a real car ..... Mustang GT

 

[Gregs24]

You guys are fortunate to have a tax system like that. Ours is pay as you earn (PAYE) for wage/salary earners and the only deduction you can get is charitable donations, and that's limited.

But you have to look at the whole picture, one hand giveth and the other takes away!

There are so many different taxes and until you look at all of them and the impact on you in each country it is impossible to compare. In general most countries tax about the same overall but how they get there is very different.

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