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Prices Paid: Buying & Leasing Experiences Acura MDX Prices Paid and Buying Experience
9157 messages, Last post on Nov 29, 2009 at 2:36 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lexluthor (Nov 08, 2009 11:49 am) Below is verbatim from another auto site and also has a link to details from the horse's mouth - IRS! I believe I have understood it correctly, if not don't hesitate to correct me. -------------------------------------- The recently passed American Recovery and Reinvestment Act of 2009 gives new car buyers a boost — an income tax deduction for state excise and sales taxes on the vehicle purchase. There are taxpayer income and vehicle price limits, but many buyers will be eligible for this benefit. According to the Internal Revenue Service (IRS), here are some of the basics: The vehicle must be purchased after February 16, 2009, and before January 1, 2010. The deduction is limited to the tax on up to $49,500 of the purchase price for an eligible vehicle. The deduction is phased out for individuals with adjusted gross income above $125,000 and for joint filers with adjusted gross income above $250,000. The deduction is available only for new cars weighing 8,500 pounds or less. The tax deduction is available to taxpayers who do not itemize as well as to those who do. An Example For the purchase of a $30,000 vehicle with 7% state sales tax, the taxpayer would receive a $2,100 tax deduction. The actual tax savings depends on the amount of sales and excise tax paid in your state and on your tax rate. Ask your dealer about your state's tax rates. Your tax break is in addition to any incentives or rebates offered by the dealer and manufacturer. Check out dealer specials in your area. For more detailed information on these tax benefits, visit http://www.irs.gov/newsroom/article/0,,id=204519,00.html. -----------------------------------------------------------------------
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Replying to: khajokh (Nov 08, 2009 2:22 pm)
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Replying to: kyfdx (Nov 08, 2009 7:22 pm) I am sorry if I gave an incorrect impression. I didn't realize that there were some members from Canada. |
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Replying to: khajokh (Nov 08, 2009 11:18 am) |
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Folks, the link to which the poster has, for the $8000 rebate. IS FOR CANADA only. does NOT apply to usa. http://www.theglobeandmail.com/globe-drive/what-theyre-offering/article1351166/ it says....RIGHT AT THE TOP of the website....for canada customers. Deals What they're offering Here is a look at recent incentives offered by manufacturers in Canada. All offers are subject to change and often do so frequently and without warning. The deals listed here were ‘live' through last weekend. |
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Replying to: vchad (Nov 08, 2009 8:06 pm) Honda "manufactures" Acura MDX in one place called Alliston, Canada (and as-of-now nowhere else - even though there is some discussion of moving MDX production to a plant in Alabama to ramp up for more Civic sedans in Canada) http://en.wikipedia.org/wiki/Acura_MDX Let us not confuse 'manufacturing" from "selling". The article from GlobeandMail refers to manufacturers in Canada - not where those cars are sold. Again, not being associated with either car manufacturers or dealers, I have no way of knowing whether this incentive is true or not. But the numbers that one derives, after assuming that these incentives exist, are very, very close to the deals a select few dealers are willing to provide. This, in itself, should raise the question - why is a dealer in Pohanka, VA willing to sell MDX base for 34k where as a dealer in NY/NJ would not go down below 36k? Where I live (about 1500 miles from Pohanka  ), the lowest base MDX quote is over 36.5k. I have no other motivation other than to research, educate myself and get the best deal. I simply cannot understand why I have to pay 2-3k more than what others are paying for the same commoditized product to which dealers add-on very little value. If others have more access to information on true incentives/better deal structuring, please do post. From my anecdotal research, it appears that there are a lot more buyers of Acura MDX if the dealers are willing to pass on the manufacturers incentives to buyers - not just keep them for their profits. Acura sales may not be suffering due to a lack of buyers, but more because of their dealer network pricing structures. Given the current incentives, here are what I believe are the reasonable prices one should aim for - Base - 34k-35k Sports/Ent - 42k-43k Sports - 40k-41k Tech - 38k-39k Tech/Ent - 40k-41k Anything over this will be an additional dealer markup. I am not making any buy/don't buy recommendations - I understand that is a personal decision based on many other factors. But let us correctly educate ourselves on what are the true cost/pricing structures and know what we are giving/gaining when we make these big transactions.
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Replying to: khajokh (Nov 08, 2009 10:53 pm) I appreciate your reasoning. But I can assure you, the 8k rebate is FOR CANADA CUSTOMERS ONLY!!! Your very mixed up with your information. The article states, that the MANUFACTURERS(they have over 10brands on that list) are providing such and such deals, for CANADIAN customers. Regardless of where the MDX is made, your understanding of there simple explanation is way off. They are simply saying, a manufacturer such as (acura...volkswagen, mercedes, etc.) are offerings these deals in CANADA at the present time. Your over analyzing this article. As for your varying of prices, IT HAPPENS, thats capitalism for you. My local (small) town, honda, toyota, audi, mercedes, will balk at invoice or barely over invoices offers. i drive 3hours to chicago, and they discount from invoice. Its just a matter of VOLUME, VOLUME, VOLUME. A larger dealership(such as pohanka) in a bigger city, with a competitive market, sells at a lower price, but also relys on volume of sales. As for local/smaller town, anywhere in usa, they rely more on profit per car than volume. Bottomline, this logic can be applied to any brand etc. and the 8000 rebate is FOR CANADA ONLY! canada's car market prices are usually 20-25% more costlier msrp's for the same exact car, so when they do get such rebates, they are larger, and you have to factor into exchange rate. Canadians have always complained of high msrp's, hence lot of them would cross border to buy in Michigan, or elsewhere in usa, but manufacturers caught on, and started voiding cars warrantys if they weren't bought in original country of residence.
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The website is for a Canadian newspaper... Those incentives are for Canada, not the US.. You can look up current incentives right here on Edmunds.com.
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Replying to: khajokh (Nov 08, 2009 2:22 pm) I made it perfectly clear to about 10 dealers that I'd be in within an hour (or as long as it would take me to drive there) to purchase if they could hit $34,500 for the Base MDX. Still, I couldn't get any dealer to budge below $35,900. There's just no way they have the same deal with Acura that Pohanka has. |
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Replying to: vchad (Nov 09, 2009 1:17 am) The rebate is applied AFTER tax. Therefore the best price you can get up here (Ontario, Canada) for a Base MDX all-in (incl. taxes) is about $51,000 Canadian. Based on the current exchange rate that is about $47000 U.S. That is why many Canadians buy in the U.S. despite Acura cancelling the warranty. |
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