Prado - for someone not willing to wait

[nobano Lurker Find all posts View Profile Close nobano]

I have anecdotally heard that people are deciding, after waiting a considerable amount of time for their new Prado to be built and shipped, to sell for a premium to someone who is not willing to wait. Is this actually occurring and if so, what type of premiums are people paying over the RRP?

We have a Prado which is due to arrive within a month, and jeez if the premiums being paid are that high, I can wait another six months. Any thoughts about how this would be structured, considering the vehicle is being registered in my name, would this incur double stamp duty?

Thanks in advance for your feedback.

[blw Member Find all posts View Profile Close blw]

Maybe do some research on the car sales sites to see what people are advertising them for

[KRviator Lurker Find all posts View Profile Close KRviator]

We just brought a Graphite VX for $81,500. No order placed, we simply called around till we found one at a dealer in a colour we liked and brought it on the spot - and if we were willing to wait, we probably could have negotiated $4,000 off it with fleet pricing through work, but decided getting it "today" was worth the $$ tradeoff of waiting till I got the Form B signed through work...

There are 5 x 2021 models listed as Used on CarSales, being VX's listed for $87.7, $85.9 & $85.5 in Victoria, $85,6 in NSW, and a GXL with 17,000km on it for $73.5.

IT is all well and good buying it and re-selling it, but using our VX as an example, buy it for $81.5, list it for $85 and the buyer is up for an additional $2,500 in stamp duty to buy a "used" car - and you would have to pay CGT on any profit you do make. So you're really only "making" $2,000 or thereabouts and being stuffed around re-ordering another Prado and waiting for it to arrive.

Given we also got quotes for a Kakadu around the $93 mark, you have to ask would a buyer really be willing to purchase a "used" VX for effectively $87,500, or a "brand new" Kakadu for $5,000 more if they did a bit of legwork?

[Guest Close Guest]

If it was a 200 cruiser, yep, people are doing this and making serious profits.(Even after costs). Prado's however aren't really in the same boat. and finding a buyer who is in the "need it this second" boat will be very very few and far between.

[21gxl Lurker Find all posts View Profile Close 21gxl]

Interesting re capital gains tax on cars, ATO seems to say personal assets such as your home and car, furniture are CGT exempt, but yes people are asking silly prices for used Prado’s, some are asking thousands more for even the previous 130kw model than I paid for my 6 month wait 2021 unit. Here in Vic I spent many days trying to find a GXL, there was none, let alone trying to negotiate its price down to a reasonable level. In the end, ordering was the only way to get one and get a decent discount.

[KRviator Lurker Find all posts View Profile Close KRviator]

Interesting re capital gains tax on cars, ATO seems to say personal assets such as your home and car, furniture are CGT exempt, but yes people are asking silly prices for used Prado's.

If you sold your car after owning it for a while, I reckon you'd be in the clear, but in the OP's case, buying it to simply resell, I reckon the ATO would argue there is a clear intention to make a profit and try to say it is a CGT event.

There still needs to be a willing buyer in any event. Depends how badly someone wants a Prado I guess? But as we did, if you call enough dealers, I reckon you'll find what you want without having to buy second-hand.