Any tote the note owners?

[Photonfanatic]

What kind of taxes do you pay on your inventory at the end of the year?
Besides the purchase price of the car and auction/wholesale fees, what other fees/taxes do you pay?

You have to pay an "inventory tax" on every car left on the lot at the end of the year. Its complete bullshit if you ask me. Its just a big racket for the state to get more money they don't deserve to have. Thats why you hear about all the big year end sales. They wanna clear their lots up before the end of the year. And iirc, its about $15 on every thousand dollars that a car is worth. I could be wrong about that though, its been a long time since I was in the biz.

[Katrina]

My uncle has a tote the note place over off Loop 12 and 30. I wouldn't buy a car from him. His cars are POS. He doesn't care. Someone doesn't like the car, he'll just sell it to another. What needs to be fixed...he doesn't really fix, he just puts another POS part on. Saying that, I used Mr. Bill's Motor in Arlington years ago. Paid the car off. Once I passed the car (Mustang) to my sister, it started to fall apart, but that's because she didn't take care of it. They have nicer cars than a tote the note kinda place and reports to the credit agencies.

[kenny c]

My uncle has a tote the note place over off Loop 12 and 30. I wouldn't buy a car from him. His cars are POS. He doesn't care. Someone doesn't like the car, he'll just sell it to another. What needs to be fixed...he doesn't really fix, he just puts another POS part on. Saying that, I used Mr. Bill's Motor in Arlington years ago. Paid the car off. Once I passed the car (Mustang) to my sister, it started to fall apart, but that's because she didn't take care of it. They have nicer cars than a tote the note kinda place and reports to the credit agencies.

You're at Disney and posting about tote the note lots??

My goal is to be the opposite of your Uncle.

[6.7dually2009]

You do not pay tax at the end of the year it gets charged on every sale know.