Lets say i buy a lexus for 4,000.00 and the blue book is worth 15,000. and i sell it for 14,000.. is that illegal??
2007-01-17 04:51:39 · 11 answers · asked by joe me highhhhh hah high 1 in Politics & Government ➔ Law & Ethics
no... this is America, not communist China.
2007-01-17 04:57:25 · answer #1 · answered by Jack C 5 · 0⤊ 0⤋
of course not. It is legal. you are allowed to make money a proffit on anything you sell (with few legal exceptions, like concert tickets).
The only illegal act would be to lie about the selling price to reduce taxes. You are also limited on the number of vehicles you can buy and sell per year, unless you are a dealer.
2007-01-17 04:56:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
no its not illegal. people do it all the time. people go on eBay to buy things cheap and sell them for a profit. people who buy cars from the auction, will turn around and sell the car for a profit. its normal to get a deal on something or to buy something wholesale and turn around and make a profit. profit meaning the money u paid for the item minus what u sold the item for, at a higher price.
2007-01-17 05:04:08 · answer #3 · answered by black pharoahs of egypt 2 · 0⤊ 0⤋
rip-off. No reason the vehicle might want to be in a delivery organisation if she found an section client it would want to be a waste of money. by no ability purchase till you may seem into it first. once she has your Paypal funds she will be in a position to disappear with it, claims of returns are ineffective. "because i'm affiliated with eBay" No no longer somewhat, she might want to have an account, yet isn't affiliated in any respect with E-bay.
2016-10-15 08:59:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The only thing I could think of that might be illegal(I think it is in Texas)..is if there is something wrong with the car, and you do not state in openly. But if you were to say...needs brakes..then you are being honest...and not trying to scam someone. But other than that.....sure..I think it's legal.
2007-01-17 04:59:22 · answer #5 · answered by TexasRose 6 · 0⤊ 0⤋
No. Not at all. This isn't usury. It is like buying wholesale and selling retail.
Now, you may have to report the gain at tax time.
2007-01-17 04:55:08 · answer #6 · answered by SheiksOnAPlane 2 · 0⤊ 0⤋
It is not illegal in US and Canada for sure. You have to make sure that you are not forcing someone to buy the car.
2007-01-17 05:00:38 · answer #7 · answered by MSS 6 · 0⤊ 0⤋
of course not! if someone is stupid enought to see u a car like that for that price, then u can do w/e u want with it. why couldn't u?
2007-01-17 04:55:21 · answer #8 · answered by The Chef-dishin out the answers! 5 · 0⤊ 0⤋
No, you bought it and have the right to sell it.
2007-01-17 04:55:20 · answer #9 · answered by mnwomen 7 · 0⤊ 0⤋
I don't see why not. You just need to pay taxes on 10,000 that you made...
2007-01-17 04:56:21 · answer #10 · answered by Anonymous · 0⤊ 0⤋
Ummm, yes, that is how businesses make money.
2007-01-17 04:56:55 · answer #11 · answered by Take it from Toby 7 · 0⤊ 0⤋