51 lines
2.2 KiB
Markdown
51 lines
2.2 KiB
Markdown
# What am I doing
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Figuring out how much things cost for the truck compared to buying a WRX
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Yichen, the seller, is (maybe) getting deported--so he wants to sell his WRX. He made me a competitive offer.
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# What are the cars
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| Property | WRX | F150 |
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| --------- | ------- | ------- |
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| Year | 2015 | 2015 |
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| Mileage | 35,000 | 70,000 |
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| Fuel Econ | 21/28 | 17/24 |
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| HP/Torq | 268/258 | 365/420 |
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| Weight | 3267 | 5540 |
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| Seats | 5 | 5 |
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| Tow Cap. | 2000 | 10000 |
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# What do they cost
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## Capital Costs
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| Cost | WRX | F150 (Fair) |
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| ---------------------------------------- | ------------------- | ------------ |
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| KBB Value | $15k-18.5k | $19k-22k |
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| Sales Tax (7%) | $1050 | $0 |
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| Title Application | $67 | $0 |
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| Plate Transfer | $10 | |
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| Cost to physically<br>get the car | $300 | |
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| Cost to have mechanic<br>inspect the car | $300 | |
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| **Subtotal:** | **$16.7k / 20.2k*** | **$19k-22k** |
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Sales tax was calculated at sale price of $15,000, which Yichen already offered.
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## Operating Costs
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| Cost (Per Year) | WRX | F150 (Fair) |
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| --------------- | --------- | ----------- |
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| Registration | $48 | $111 |
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| Inspection | ~$80 | ~$150 |
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| Gas (6000 mi) | $875 | $1105 |
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| Maintenance^ | $652 | $701 |
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| Insurance^^ | $736 | $824 |
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| **Subtotal:** | **$2391** | $**2891** |
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^Sourced from RepairPal.com
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^^ Quotes on similar policy from Liberty Mutual
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## Cost Summary
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The expected cost of purchasing the WRX is **$16,700**.
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An easy Instant-Cash-Offer from KBB puts the truck at **$18,450.**
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The yearly cost of owning the truck vs. the WRX is **$500 more.**
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# Questions to Answer
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1. Am I missing anything here?
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2. How should I think about depreciation?
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3. How does one move a large amount of money all at once (bank wire?)? |