New truck!
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Junior User
Joined: Mar 2009
Posts: 75
Likes: 0
New truck!
Ok granted, I love my 87 F150. 4x4. Auto, only 116K she give me problems once in the while but i love the truck and will never sell her.. Tonight, It was WWIII with the better half but shes calming down.
My best friend works for the local utility company, Their selling some trucks and equipment. He called me and told me to come by his shop he had something for me out back.
2008, F250 Reg cab. Its got the 5.4, auto, 4x4, cruise, only a AM/FM, no power windows or locks, 73K on it for miles. Its a typical stripped down fleet truck.
It would have so sweet if it was a diesel (im a trucker, i live and breath diesel) But its still got some what of a warrenty left, not much but some. But its a awsome truck, runs and drives great, it will be a nice truck for the better half and me for camping, and gives me a chance to make the 87 into a toy truck lol.
I picked it up for 6,000$ After the title and new licenes plates it was 6500 bucks. I hate spending money but im happier than a baby at a titty bar.
My best friend works for the local utility company, Their selling some trucks and equipment. He called me and told me to come by his shop he had something for me out back.
2008, F250 Reg cab. Its got the 5.4, auto, 4x4, cruise, only a AM/FM, no power windows or locks, 73K on it for miles. Its a typical stripped down fleet truck.
It would have so sweet if it was a diesel (im a trucker, i live and breath diesel) But its still got some what of a warrenty left, not much but some. But its a awsome truck, runs and drives great, it will be a nice truck for the better half and me for camping, and gives me a chance to make the 87 into a toy truck lol.
I picked it up for 6,000$ After the title and new licenes plates it was 6500 bucks. I hate spending money but im happier than a baby at a titty bar.
Post Fiend
Joined: Mar 2009
Posts: 6,243
Likes: 2
From: Chicago and Mt Carroll IL
You owe your buddy at the utility co. a case of his favorite beverage. You could drive that truck for 4 or 5 years and still eke out a profit on resale. You paid between a third and half of its' wholesale auction value, mileage hit notwithstanding. Enjoy the ride and thank the other half with some flowers and a dinner out. She'll like the truck too!
FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
Nice deal!
I'd guess that the company sold them that cheap because they depreciated the trucks down to almost no value and would have had to pay taxes on the extra money they made by selling the trucks at a high (normal) price.
I'd guess that the company sold them that cheap because they depreciated the trucks down to almost no value and would have had to pay taxes on the extra money they made by selling the trucks at a high (normal) price.
Post Fiend
Joined: Mar 2009
Posts: 6,243
Likes: 2
From: Chicago and Mt Carroll IL
Thats exactly the case Krewit, any recaptured depreciation is taxable and that at the higher capital gains rate. I'm glad when we occasionally get the advantage of our governments' overcomplicated tax attorney inspired protocol. Good for mn1984!
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FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
I'm self-employed, and I do my own taxes, so I know all about depreciation
When I bought my V10 SD at the end-of-lease from the company I was working for, I went solo as a contractor at the same time. Took the 178 schedule on the truck and wrote off the entire cost of the truck in one year instead of depreciating it over 3 or more years. I saved a lot in taxes that year, but hurt myself in later years, although I do still write-off the interest on the loan.
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