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2. Yes, I did want to get the deal done by 12/31/09. 3. I revealed only that I wanted to the obtain the eco-credit, which I was told would expire on 12/31/09. 4. The rational side of my brain forced me to. I had the choice of sending $45,000.00 to the IRS on April 15, 2010 or purchasing the BMW. 5. As am I, but I am also in the business or continuing to make money by retaining my clients, with an awareness that making a small gesture to one individual client can bring me multiple other clients. 6. There was no established relationship, nor would I recommend to anyone here that one be created. 7. I am involved in ultra-high-end sales and green startup venture funding, in the Bay Area. The accelerated depreciation applies only to vehicles with GVWRs of 6,000 lbs. or above. Gas mileage to me is essential. No other vehicle save for the Toyota Highlander (which I found to be an unstable SUV) attained the mileage of the BMW. Fuel economy and reduced C02 output are very important to me. Thus, I chose to buy the BMW, not walk, and not "throw away" $45k to the Feds during tax season. I do not claim to have been screwed. I am claiming the words of the sales manager were unethical and deceitful and for that I owe no apology. Nor have I "bashed" the dealer in any way whatsoever, by reporting on a factually true event that occurred. In fact, there are material facts I've left out that would make them look even worse, yet I've chosen to let it be. I have purchased well in excess of 20-new vehicles during the last dozen years. This is my first BMW, and I was very surprised at the "overall" experience. To one with any sense of intelligence, reading between the lines of my thread should be quite easy, as the vast majority of those who read my post have done. I don't consider your post to be tough-love, rather I consider it to be what happens when one is bored and wishes to engage in a battle of wits on an Internet forum. These things happen, and judging by your whopping 9,000+ posts, I can see you're a "frequent" visitor to this site. So, instead of looking in the mirror, I'll look the other direction and consider your post to be nothing more than a cheap shot at a legitimate gripe. The fact is, I have no tolerance for unethical behavior, and reporting my experience as a warning to others to steer clear of this dealer is in the best interests of all those who participate on this popular forum. You need not agree with me, and I welcome your points, but your tone is combative and far from constructive. Of course I had a choice to walk, and I had a choice to buy another vehicle. I also had a good 10-days to research and test drive the options. Unfortunately or fortunately, depending on who's looking, the BMW suited all of my needs, as mentioned above. I myself am responsible for paying MSRP, no one else and had I not been lied to, which I was fully aware of as it was taking place, and had "unheard- of-unethical" behavior and language not have taken place during the sales process, I would have had no major qualms with paying MSRP for a popular vehicle 1 week prior to Christmas. I realize the 35d is in demand. My point, if you reread my thread, is that I'm very dissatisfied with the process, and quite astonished that the dealer was unwilling to embellish me in the slightest, in an attempt at making me a "satisfied customer." Sure I could have walked, but quite frankly, I can put aside my ego and swallow my pride, for the sake of having a new SUV in my driveway and $45k more in my bank account come April. So, thanks a lot for your comments! You're obviously far wiser and more logical than am I. Please forgive me oh ye of 9,000+ posts. I am not worthy, I am not worthy...! P.S. Pun intended throughout the post. Chill out buddy, it's an Internet forum. It's here for complaining and shooting the Sh_t, or did I miss the memo some 8,000 posts ago....? '-) |
Wow, that's a lot of noise. There's only 1 appropriate response, enjoy:
Mr. ABMW, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this forum is now dumber for having listened to it. I award you no points, and may God have mercy on your soul. |
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OP,
Don't get offended by Thunder22's (or any other members) comments. It's all part of an online forum community. When you post a question or rant on any forum, you're going to get responses that agree with you and disagree with you. You're not always going to get sugar-coated answers that's going to "pat you on the back". I thought Thunder22's comments were just that.....tough love, honest, concise, and to the point. You may not like reading it, but you know what they always say, the truth hurts sometimes. About having to purchase the car this year or losing $45k to the government, I don't think that's the case. If the $45k that you're talking about is the sum you had to spend as a business expense, then you would have only lost money on taxes on that $45k.....roughly $13k. For some ppl (like myself), any extra "bonus" that I get at the end of the year due to higher-than-expected gross profits of my business, I often put some of it into my SEP IRA. Hence, it's NOT taxed until after I retire. Either way, as others have tried conveying to you, it was your fault in the end. Because, no one put a gun to your head. As far as Thunder22 having over 6000 posts, good for him. You know he's an avid BMW aficionado and Xoutpost regular instead of a newbie who's just trying to be a troll. |
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Though, of note, your understanding of my tax situation is incorrect. Please reread it. I tried to make it pretty clear, as there are many others on this board who have specifically asked about Obama's "new for 2009" bonus accelerated depreciation scale, that is part of the economic stimulus package that was passed earlier this year. If it were a matter of saving $13k, I would have purchased an M3, not a 6,000 GVWR SAV that is required to qualify for the bonus depreciation. In fact, I am saving just over $45k, actually, specifically by purchasing this SUV. But in my case it is used for 95% to 100% business (the IRS allows small personal trips within 1 or 2 miles to be driven in a 100% business use vehicle, but frequent trips over 10-miles for personal use are borderline) Anyway, I still am responsible for a very large chunk come April. Though, those are the breaks and one can only be so prudent. I live in the Bay Area, and while my household income (my wife's and mine) would be considered extraordinarily high elsewhere in the country, we're in a city of $3,000 to $4,000 rent for a small 2 bedroom in a "safe" area that allows dogs, and includes parking, if you're lucky. Thus, small bits adds up. Again, my qualm is not in paying MSRP and perhaps I should modify the title of my thread or make that more clear in my original post. My qualm is in the blatant lies that were being told, by the sales manager, in front of his own salesman who was not even agreeing with him. My issue is with the experience, as a whole. I'm being pretty clear about this. Naturally I expect a hard-sale when I walk into a car dealership. But, as someone who is extremely involved in the community, and in sales, the reason for my post is that I find unethical behavior to be deplorable and I have little tolerance for it. Again, I expect car dealers to be tough, naturally and "duh," but as stated earlier: having purchased well over 20+ cars over the last dozen years, not to mention a good 9 to 10 motorcycles, I've never been faced with a manager who had the gall to straight up lie about a factual document in front of him. We even pulled up his comments on BMW's website to confirm he was being untruthful and that we weren't going crazy, as his behavior was so bizarre. So, my thread is hardly trolling. It's a mere warning to others to steer clear of a specific Bay Area dealership, based upon factually occurring events. As a friendly side note: trolling aside, do yourself a favor and consult with your accountant about taking a 90% or 100% depreciation for your X5. If you bought it new this year, your eligible, and it sounds like you own your own business. Maybe you did not gross enough for it to be worth it or you have enough deductions that you need not take another, or you do not use your vehicle specifically for business, but if you do, it's worth a phone call. If he/she (your accountant) is not aware of it, call a different person- again just friendly and sincere advice. This thread is becoming more silly by the moment, so I'll try not to respond to further threads on this specific topic. But, again, in closing my issue is not with the salesman. He was excellent. My issue was specifically with the behavior of the sales manager and his unethical behavior. I paid MSRP, and it's my fault, but again I could care less. Heck, I would have paid $1k over, if I had to. It's a great truck. But, I have no regrets in posting this warning to steer clear of a dealership that is managed by someone who lacks ethics or at least displayed no sense of ethics in my dealings with him. Cheers and Happy Holidays! |
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:nanana::bustingup:p::beerchug: http://nahright.com/news/wp-content/..._arguments.jpg :whocares::noadd: |
OP,
I have an accountant. I am also a business owner who makes well over the amount that Obama considers the upper 5% of the population. I also live in the S.F. Bay Area. So, I'm in the same boat as you. Regarding my tax comment to you, that was why I mentioned/asked whether that $45k was the total taxable bonus you received or was it your actual tax savings. Because, if it is the former, then you would be taxed on that $45k and it doesn't mean that buying the car "saved" you $45k that would have gone to the IRS. By the way, are you incorporated? If so, did you purchase the car under the corporate name and insure the car under the corporation? And, I don't know why you're getting belligerent with me. I thought my post was rather cordial. |
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Your math on the tax savings has me scratching my head like the previous poster. You are talking about a section 179 deduction. Or in other terms, accelerated depreciation. If you are having a good year, accelerated depreciation can be a good thing. But where I don't follow you is that deductions are against income, so even if you could deduct 100% of the purchase price, you would end up around 20K in a 36% bracket. To get to 45K would mean you were in a 80% bracket. The 6000 GVWR merely gets you by a federal limit on business car expenses, it has nothing to do with the current 2009 accelerated depreciation rules. If there is some other creative way to handle the taxes, I would be interested to learn it. You would be best to site the rules online somewhere instead of just telling people to keep calling until they get the answer they want. We look at section 179 each year. For you tax fans, here is a good reference: Qualifying for the 2008 Section 179 Tax Deduction | Section179.org I'm fine with calling a spade a spade, but something smells fishy here (and note I only have around 200 posts) ;) |
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