Pipelines Bad. Money Laundering Autos Good

[ThePenIsMightier]

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holy shit, this explains so much

It does. And thanks for highlighting that for me @david l
I would not have written it the way they did to better emphasize the correlation, but I suppose the words were there and I somewhat missed the point.

[Buster]

Basically every high end car I was looking at on autotrader sat there for a year or more, then this spring they ALL disappeared. I was thinking it was just covid demand, but it sounds like it's dirty money looking for a home. I saw a DBS Superleggera sell for close to MSRP and it was two year old inventory sitting on a dealer lot.

No new car for me.

[r3ccOs]

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Basically every high end car I was looking at on autotrader sat there for a year or more, then this spring they ALL disappeared. I was thinking it was just covid demand, but it sounds like it's dirty money looking for a home. I saw a DBS Superleggera sell for close to MSRP and it was two year old inventory sitting on a dealer lot.

No new car for me.

100% and this is the way my brother acquires/rotates his luxury vehicles

If I dumb down the process: Dealer (in town here) has a list of clients or are approached by "referrals" which they solicit as cars to acquire. Once in inventory, they are priced to keep them ON the lot.

Then "eventually" this vehicle is sold with a "trade in", of which the trade in vehicle's value is "significant" to or the sale vehicle is significantly discounted, which results a very small different of dollars legally transacted.

meanwhile whatever happened behind the scenes is all the "off the books"

I think Rev Canada needs to take a strong look at these "user car" dealers who would happen to have a large list of transactions that result in little to no profit or capital losses.


Also... small 'infill' home builders who take advantage of principal residence rules... yeah

[Buster]

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100% and this is the way my brother acquires/rotates his luxury vehicles

If I dumb down the process: Dealer (in town here) has a list of clients or are approached by "referrals" which they solicit as cars to acquire. Once in inventory, they are priced to keep them ON the lot.

Then "eventually" this vehicle is sold with a "trade in", of which the trade in vehicle's value is "significant" to or the sale vehicle is significantly discounted, which results a very small different of dollars legally transacted.

meanwhile whatever happened behind the scenes is all the "off the books"

I think Rev Canada needs to take a strong look at these "user car" dealers who would happen to have a large list of transactions that result in little to no profit or capital losses.


Also... small 'infill' home builders who take advantage of principal residence rules... yeah

I'm not sure I understand what is actually happening here.

[r3ccOs]

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I'm not sure I understand what is actually happening here.

Brother to Dealer: "hey I want a Stelvio QV"
Dealer: "Cool, are you trading in your G65?"
Brother: "yes"
Dealer: "Ok, I can get you one for 90k, give you a trade in for 55K do you want it?"
Brother: "yes"
Dealer: "Done, you can have it in 3 months"

3 months later

Brother: "here are my keys"
Dealer: "great, let me write you a Bill of Sale for $67K" and you owe me a $12K draft and the remaining in cash