2004 Gx470 For $29,000 Loaded- Should I Buy And Sell

[benalexe]

My brother has a GX470 that is just coming off lease. It is loaded with GPS. and dual screen DVD players in the rear seats. Car is in mint condition and has like 35,000 miles on it.

To buy the lease out is $29.000. I can't afford to keep the car and certainly don't want to pay for the gas ( I think I am going to get an used es330). My question is should I buy the car from Lexus and turn around and sell it for a profit?

What do you think I can get for it?

[1990LS400]

My brother has a GX470 that is just coming off lease. It is loaded with GPS. and dual screen DVD players in the rear seats. Car is in mint condition and has like 35,000 miles on it.

To buy the lease out is $29.000. I can't afford to keep the car and certainly don't want to pay for the gas ( I think I am going to get an used es330). My question is should I buy the car from Lexus and turn around and sell it for a profit?

What do you think I can get for it?

I did a quick seach and found 2004 GX470's with nav and rear seat DVD and similar mileage for sale with an asking price between $29K to $31K.

What are your local/state tax laws on transactions like this? Where I live, there are significant tax consequences unless you are a licensed dealer/wholesaler.

I did a little buying a selling like this back in the 1970s and found that the limited profit wasn't worth the hassle unless it was some sort of unique or exotic vehicle.

With that said, try it if you like. It would be an eduational experience.

[The G Man]

Trying to make a profit flipping a car is not worth the trouble.

[denslexusgx470]

I agree with G Man... flipping a car IS NOT POSSIBLE unless you sell it to a different country for a jacked up price... Like over here in the Philippines a brand new GX470 costs (well it's imported, there's no Lexus dealership here) about $95,000! That's a GX470 with only 3rd seat, RSES, and ML.. No NAVI