Opening a Car Dealership to LOSE MONEY on purpose, and my first purchase is a TOP GEAR ICON
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- čas přidán 7. 07. 2022
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This whole operation has Saul Goodman energy
Lmaoo 🤣🤣
Did you know that you have rights Constitution says you do and so do I
Idk if ur keeping up. Last season starts back up in 3 days I can't wait.
@thatweebaaron When he was explaining it I paused for a sec and thought wait is this tax evasion 😆😆
Cucumber water for paying customers only!
Wizard : You lost money on a deal?
Tyler : Yes
Wizard : I’m gonna need the next 3 months rent in advance
Hes hoping to pick up a Russian super yacht on the cheap.
Don't worry for the wizard, he is used to collecting a lot more from Tyler every month than what rent is going to cost :D
id be suprised if the wizard even charges him rent considering he pays him $80k plus a year in car repairs. I’d let my best customer pretend he had an office in my break room too!
@@mromatic17 Ahah true, but Hoovie did say rent would be a few hundred/month :)
@@mromatic17 This might end up being the thing where they've had enough of each other too. I can't see Tyler spending much time there though.
The shows will now need to start with "This is Hovie's Garage, brought to you by Car Wizard," now that he is your mechanic AND landlord.
Rents are going up. Soon Wizzard will live in Hoovies house.
More like Car Wizard sponsored by Tyler Hoover’s bad decisions.
I think their collaboration is about to be huge.
It's easy when ur mother is Bonnie Tyler
You might be able to get trade discounts and promo discounts. €8-).
Tyler: makes fun of Suzuki for naming a car similar to a body part.
Also Tyler: names his business t&a
I laughed entirely too much at the “T&A Holdings, LLC” was already taken line…
Total Nonstop Absurdity
Best t&a in the whole state
Tyler, the most successful unsuccessful person I have ever known on CZcams and my life.
Genius idea
Other people: Task failed successfully
Tyler: Life unsuccessful successfully
@@dekabwerks from the man who admits to publishing the dumbest automotive content on CZcams.
I don’t see unsuccessfull lol
He's making more than you can imagine! Not any financial problems for him.
I noticed a thermostat on your wall, if that also controls the Wizards office, you have a lot of power sir.
In this episode of Hoovie teaches a bunch of people how to legally avoid paying any taxes by opening an unprofitable business venture alongside a profitable one.
Based Tyler teaching us how to do legalized tax fraud the way rich people do
Underrated comments 😂
That is tax AVOIDANCE sir
Tyler has been selling cars illegally for the past several years. Not surprised he is moving to a new scam.
Typical American Allahu Akbar
Normally a business frames their first dollar they make. Hoovie needs to frame a negative invoice.
Framed IOU note
If he frames a dollar now it will lose value until it IS a negative!
If that printer also prints in color, he can print a red dollar and frame that.
So… T&A first car is an Areola… I can’t be the only one who sees the joke there…. 🤣🤣
I see it, I’m surprised nobody was laughing
That wasn't intentional at all...no way!
I came to the comments looking for T&A jokes and I wasn't disappointed.
Too bad he could t get T&A Holdings like he wanted!
That was the joke with T & A Holdings....
Being a dealer and a business, you've got some very nice write-offs coming and reducing your tax bill will pay for your surety bond in the first year during tax-time. Good thinking Tyler, best way to save money.
And if you have no income you will pay no tax. Way ta go Tyler.
@@rogersmith7396 CZcams pays him more than you'd think.
the saving on Sales Tax alone is paying for it. Here in South Carolina it is 5% with a max of $500. It used to be max of $300 but they upped it to $500 in 2017. I have bought and sold ~50 cars/truck/boats/motorcycles while living here, I am so happy with the limit. Some of my cars were over $30K back in the 90's.
@@ZanakinzMedia Its obvious what YT pays him. He lives in a mansion and owns millions of dollars in cars. I imagine he has lots of debt.
@@rogersmith7396 he had those before youtube..
Can we please get a "I bought my Hooptie at T&A Enterprise LLC" license plate cover/bumper sticker? I think that would be excellent merch.
His cars should have that chrome truckers naked woman on them.
I’d second this, ace idea. But then he’d make money which would reduce his yearly loss and therefore his tax deductibles. Which is the real point of it I reckon!
T&A Ventures 😉
Someone gave Hoovie a very good advice. Hoovie deserves this. He is showing how bad decisions we could make, too. He is some kind of protecting. To prevent other possible hoopties. Public service like.
Tyler....the Top gear one most certainly didn't have that engine...the UK on had a Tiny 1.2 4 cylinder engine. My dad had the exact model from top gear same colour as well... It wouldn't pull the skin off a coustard 🤣🤣🤣
I only looked in comments to say that, that is nowhere like the topgear car! Twice the CC's I'm sure the F1 drivers would have preffered a 2.4L
@@toddlerj102 my dad would have loved the 2.4 😭😭😭🤣🤣🤣🤣
@@shanegillan7606 I bet he would've as I'm sure most owners would have, apart from the fuel consumption of course lol
I was looking for this comment!
Well, you're right, it was a smaller engine. A 1.5 litre 103 bhp to be exact.
Your accountant is giving you some really sound advice.Hopefully the dealer losses can be used to offset the CZcams income. That's also why he set up at the Wizard, the rent is a business expense, and the commercial building can be a whole separate profitable business.
Beat me to it 😀
Also saves on filming/production time as well.
I can tell you never owned your own business. Losses are bad, period. A write off just affects the taxes you might have paid and can be brought forward but only 80% of the tax owed when a net loss, except when Realestate. It used to be 100% but Trump changed it in 2017.
@@batsonelectronics But the amount is all that is needed to reduce the costs and with that already saved more than was going to be spent... it is just different costs and deductions now vs private.
@@wobblysauce it depends on how much he spends and loses over the year. I imagine he will save $40-$50,000 in sales tax for purchases over the course of a year. For the new business to be worthwhile, he needs to spend and lose less than 40-50K over the course of a year, or not having the dealership would have made him more money. So the cost of rent, phone, extra accountant costs, etc times 12, plus whatever money he makes or losses, all needs to be 50K or less. If he losses a total of $15k with rent, phone, car sales losses, etc at the end, then he would have actually made around 35K over not having the business since his actual cash outlay would be less than if he didn't have the dealership. He is already a business now on CZcams, he just added a second one with the dealership. I currently have 2 businesses myself and have been self employed for 30 years.
Gee, imagine hearing that the name T&A (T*Ts & A**) Holdings was in use by another business... One can only imagine what industry that business is in. 🤣😂🤣😂
Honestly, I think the dealer bit is a great idea. Sounds like it could really add some content to the channel that was previously not there. Congrats Hoovers!
Bring us to the auctions! I love the older random cheaper stuff.
I do this kind of thing daily but never on purpose 😂
Hey! How is it going and welcome back!
Woah, my automotive CZcams channel worlds colliding.
The crossover I never knew I needed
The small world of the automotive CZcams channels.
Ayeee just watched you last vid 😂😂
Wizard's reaction was like "That's not how it works, that's not how any of this works!" 😂
These Suzuki Lianas had either a 1.3 (90HP) or a 1.6 (105HP) engine in Europe. Now with that engine you see why those laps in TG were a real challenge. 🙂
The 2.3 makes a world of a difference especially if it has the manual transmission. I had a friend who got about 500 horsepower out of the 2.3 engine, thing was insane.
I've never understood why Americans need such big engines in tiny econoboxes. What are you planning to do with your 2.3 litre engine in your small Japanese hatchback? I can understand having a faster sport model but to have it as standard just seems weird.
@@drunkenhobo5039 Because bigger is better duh! (Says the person that has a 1.3 liter FC and a 1.2 liter FB.)
@@drunkenhobo5039 drag racing Suzukis duh
@@drunkenhobo5039 Because we have 80mph speed limits, and the need to run the AC 100% of the time in most of the South due to the heat.
For me a big part of what makes this channel great is the relationship and dialogue between Hoovie and the Car Wizard. Together they make me laugh during every vid . Keep up the great work.
I was waiting for the Wizard to break out the rolled-up Newspaper and be like "No! Bad Hoovie that's not how you business"
Could T and A open a gas station and loose $50 on each fill up? That would be a money looser I would gladly support.
Loose = not tight.
Lose = not win
Hoovie comes off as a dumb, goofy guy but when you listen to the way he speaks and articulates himself you can clearly see that he’s very smart and business savvy. Love your channel Tyler!!
😁😄
He's got a Business degree from KSU. A little goofy, yes. Dumb? We should all be so dumb.
@@kurtlamprecht93 Tyler isn’t hurting financially. He can afford to lose money selling cars as a joke, and at the same time he’s getting content and helping himself on his taxes. The guy is brilliant.
@@kurtlamprecht93 no but I think he's done quite well for himself with both his CZcams channel and Cartrek. I didn't know about his family wealth, although I suspected it. Listen, I like him. The way I see it, if you don't like something don't watch it and especially don't go to the comments and run them down. We get enough of that from the government.
6 gallons in a Hemi Superbird is enough to get from one gas station to the next! 🤣🤪🤣
Tyler was actually right on, "all the right parts, poor execution" on that Superbird. They installed a good, brand new aftermarket AC compressor for $100's of dollars, and cheaped out on the $5-$10 in connectors to hook it up...which is about the same as everything else in that car. Was that car resto-modded by some middle manager with an MBA?
I think it was done by someone who underestimated the amount of work or money involved. They started then sold it when they realised they couldn't finish it
Had my drink come out my nose when I saw T and A 🤣
Hoovie & Car Wizard are the dynamic comedy duo.🤣
Only Tyler could get scammed on a super bird and come out many hundreds of thousands ahead lol
I think you are going to do great, shipping cars all over the country. You have CZcams as endless advertising and since wizard catalogs all the work they do, your customers have will have the confidence that any repairs were done right. Good luck!
Great point. 👍
T & A could stand for something else but thats just me I guess lol
Tits & Ass? 🤣,I’m sure hoovie is well aware of this too,cheeky guy 🤣
With all the over priced high end cars Hoovies been buying lately I was starting to lose interest in this channel.
But now I'm back on board, getting back to "basics" with buying and selling more normal cars again is a great move to make the channel more exciting again.
He knew that
Arthur Fonzarelli: "I just jumped a shark!"
Tyler Hoover: "Hold my latte!"
Wake up, watch Hoovie, drink coffee. Good Friday morning boys!
That's exactly what I'm doing right now😆
18.27
I've got the perfect 2003 Land Rover Discovery ii for your new car dealership. guaranteed loss with this bad boy
Obviously T&A Holdings has a much better ring to it. Ventures is kind of funny too, now that I think about it.
Bravo to you for getting back to your roots! It's way more entertaining than supercars few can even afford!
hilariously wholesome how the wizard waived the warranty work so he could also lose $50 with tyler XD
This is a great new idea all around. Tax loops and new interesting content. Tyler is a smart guy
Wow, I live in Wichita and looking forward to being one of your customers!!!! Thanks.
Love this new direction! Stoked to see new episodes of “Hoovies Auto Sales.”
Hoovie needs to wear one of those fleece vests when doing dealer business. Embroidered with T&A!
Gold dog chain, gold tooth, aviators glasses. Drive a junk Mercedes.
Nice and early for a Hoovie vid, nice to have the company as I try and fix this coolant leak in my hooptie. Wish me luck guys, this leak is hard to find. Thanks for the vid, Hoovie and good luck with your tax dodge!
That looks like asbestos popcorn ceiling in your office, you could sue The Wizard LOL
„the printer worked - which is great, for a new printer“ 😂😂😂 so true unfortunately
"Keep paying the wizard..." sounds like some sort of drug euphemism.
Weren't you already paying for Wizard's entire building? I'm pretty sure you represent 70% of his business... LOL
He calls his company T & A ventures and the first car sale is an areola! This channel is the gift that keeps on giving.
"...rising tides floats all boats...". Love that!!
"The best way to make money is to make money." - old counterfeiter's joke.
T & A has always meant something different to the people I roll with at least :p
The surety bond does work. It guarantees you will faithfully perform your duties as a dealer. For example, if you knowingly sell a car with odometer fraud, or don't transfer title, etc, it could cause a bond claim. There are many other examples, but it's another layer of protection for the consumer. Keep up the good work!!
We just started watching “Car Issues” and just love it so far. My father and I retired from the car business, he was tired of dealing with the ongoing hassles of manufacturers and my self due to Parkinson’s. We do miss it though, however your show and Wayne Caring’s show gets us by. Not to mention we are total old Top Gear/Grand Tour zealots, LOL!😂Wishing you much success sir.🙏🏻
I feel like your bills at the Car Wizard should cover your rent lol🤣
Ain't happening. The Wizard needs to fund his real state buying spree
@@Biker_Gremling Rumour has it he now owns over 40% of Kansas.
It's nice to have a simple explanation on how to get a dealers license
The printer worked first try!? Wish we were all so fortunate as you Tyler 😂😂
Tyler found a new way to give Wizard more money! 💸 😂
I'VE NEVER BEEN THIS EARLY!!!
Freakin’ goombah… 🤦♀️
CONGRATULATIONS! What an achievement!
This is closer to his roots than all the supercar junk over the past 2 years. I'm surprised, I figured he had kept up his dealers license all along.
T&A holdings 😂😂😂😂😂😂😂 I’m dying
"A rising tide floats all the boats" - I like that.
Good move acquiring Dealer license! In the future I would like to purchase a vehicle from you. I have my eye on the Roadmaster wagon! Videos have excellent content! Big fan!
What an epic adventure Tyler, love the idea and it’s really a unique way to bring content to the Channel. You were saying your getting bored and it was becoming too repetitive buying cars and just getting wizard to fix them so I guess this is another good venture for yourself and your channel. Hopefully it works out this time and hopefully you don’t be the typical hoovie and lose tons off money, I’d love to see you make money from the dealership aswell! You already pay Car Wizard enough lol. Keep up the great content and make sure you don’t forget about buying more hoopties and also now hoopties for your dealership, fingers crossed you don’t become crazy lol and give away EVERY car for a loss. Good luck pal and hope you and your family are doing well too.
I owned an Aero SX. It was actually a great car. Sadly, Suzuki stopped selling cars in the USA. It was quick-ish and got decent mileage. I bought mine in Jonesboro, AR and I drove it for two years while I was in Nursing school. Living in Northeast Arkansas (lived in Leachville, AR and we had to drive 30 miles to get anywhere) AND being in Nursing school...I put nearly 70k miles on it in two years.
Congrats on the new biz! Knowing you from all these videos, there will be a lot of money lost... but also some surprise gains, so I can't wait for those.
Always amazed at how reasonable the Wizard is on his prices.
Not reasonable at all...
Reasonable!? What you talking about
Tyler is so honest, smart and personable he may just parlay this tiny office into a franchise of Porsche dealerships.
"I'm going to keep paying the Wizard..." Truer words were never spoken.
Hoovies own OZARKS.Are we laundering money now.🤣🤣🤣
Only Hoovie can afford to use an expensive Persian carpet to soak up oil leaks under his Chevy Caprice wagon,
*not expensive
*not Persian
*not a caprice
for someone named buick you'd think you'd know what you are looking at.🙄
@@longjohn77 I'm sure he got it for 90% off the original price 🙄
@@nicholasvinen good to know! not sure why you felt the need to share that, but here we are...🙄
Good luck Tyler. I always enjoy your adventures.
I wondered where you would go with the channel and you nailed a fantastic way to expand and renew the channel with plenty of potential for future videos. Well done Tyler!
Congratulations!! Love the Channel!!
As much as we love the Tyler Losses money, I think it would be entertaining to see how much money Tyler can make flipping cars in a one year period. Obviously it won't turn out well, but it would be interesting to see if Tyler can control himself
I assumed you had been doing this for years ... The transaction costs on every car must have been immense! Especially sales and excise tax ...
Dealer prep!!!
Tyler you are such a great guy but down to earth, love the channel.
Thank you for the great entertainment. It is nice that you help your friends. Blessings.
Funny you said you opened a car business to lose money. That said, I’ll buy your Corvette for $5000.👍
If you're into losing money, I can be there in like 3 hours with $2k for that Aston.
"Don't forget - you OWE ME rent!! - classic last words
Another great video from Hoovie. Thanks
I went to look at buying a GT-R a couple weeks ago and almost passed out. I knew the market was weird and has been for a while but I’ve had my couple cars since before that happened, so I’ve been more of a bench spectator up to this point. MSRP? $140k. What they were asking? $250k...a dealership a few cities away was almost identical on those prices. Oh well. Maybe next year 😭
dont buy anything rn wtf buy storable food n shit ... buy generators and solar panels cause energy crisis and food crisis hasn't even started yet
Hmmmm, what the fuck are you talking about?😂
New GTR orders?
Come to Chicago, the Nissandealership down my street is taking orders for new ones with only like $10k+ ish tacked onto the msrp.
(Friend was seriously looking the other month)
There’s also 6 used GTR’s on Autotempest, all in the $70,000 range…
@@mro4ts457 I found 3 online (not Autotempest) in my state. I don’t buy used. When I talked to the dealers, their prices were firm at $250-$260k for their GT-R Premiums. I found one for the $140,710 MSRP but it was in transit and the dealer couldn’t guarantee they’d sell at MSRP.
@@codyash3802
If you’re buying a new one anyways, don’t buy an already built one, ask the dealerships what it takes to special order a new one to your personalized spec*
@@mro4ts457 Idk. I’m not deadset on a GT-R. Maybe someday, sure. But I’m just trying to swap my GT500 for something AWD but still fun to drive. My winters get intense sometimes, so it just hangs out in the garage all season. I’ve been looking at some RS7’s too. I just remember a few videos ago when Tyler was talking about selling off his fleet and the crazy market and thought I’d mention the prices I’ve recently been quoted 😅 I can’t remember what he said it was or even the price but I remember him saying something about one he’d looked at was a used car that was averaging more as a used car than it sold for as new. And that dealers were adding $100k over MSRP on certain models.
My dealership loses about $40k a year to offset my $300k youtube revenue. It works out great!
Back to your roots! Welcome back 👍👍
Just keeps getting better ! Good job 👍🏼
i wonder how tyler wants to explain the irs how hes selling cars and yet he can retain his business by solely making losses.😂
tyler: "well, what do i say i make losses for a living"
basic tax avoidance scheme anyone who has multiple sources of income does to keep their money and not have to pay taxes. You intentionally make a venture a net loss and then you can use that loss as a tax credit on your profitable businesses so on the books it looks like you aren't making money when in reality you are making a lot of money. Completely legal and exactly how the government intended it to be used by themselves and their buddies regardless of what a specific group in the government claims whenever trying to seek re-election.
Wall Street finances 1000s of zombies.
@@thealmightyjack Certain groups when not in power: "We will close tax loopholes and make the wealthy pay their share!"
The same groups when in power: "Tax loopholes? Never met her."
So, I understand that actually, you did this, to help you with your collection management. But why do you want to lose money on the sales of the cars you will eventually sell? Taxes reduction?
Also, NEVER sell the Superbird! NEVER, NEVER, NEVER!
it's a basic tax evasion scheme most people who have businesses use. Make one of your business ventures lose money on the books and you can use the losses as tax credits to avoid paying them on more profitable businesses in the tax year. Now it isn't illegal, because the government made the rules this way despite what a specific group of politicians who are directly responsible for writing these rules for their own benefit wants you to believe so he's merely using the system to his advantage.
@@thealmightyjack Didn't say he was about to do something illegal. Was just wondering what would've be the advantage of selling cars with losses.
@@chassegallerie2910 wasn't accusing you of doing so, just mentioning that what he's doing is in fact legal and a common thing people with money do to keep their money. Essentially his CZcams and other business contracts like TV shows and car show appearances make him a lot of money he has to pay a large business tax on so if he owns a shell company that loses money, he can claim the loss in profit as tax credits to avoid paying most if not all taxes come tax season. And it makes sense if his shell company also gives him a dealer's license so he can avoid paying taxes on the purchasing and sale of his cars on top of it.
Because it is funny
@@thealmightyjack I don't mean to be anal about it, but this is tax avoidance, not tax evasion. Tax avoidance is legal, tax evasion isn't.
Now there's a whole other discussion to be had about whether this kind of tax avoidance should be legal (I don't think it should) but that's a whole other rabbit hole.
What I know about Magic Mike from the videos of Hoovie and Wizard is it that he is a helluva fella!
Such a fun videos, I am really having a blast! You ROCK !!
"Dealer use" plates should apply to everybody. I can't drive more than one at a time, just a scam to get more money.
Legend Tyler, love your work!!!
Dealership inside a mechanic shop. Great idea
@11:30 Tyler didn't even try to negotiate 😆. Terrible business sense 😂
You're really great to watch Hoovie. My favorite CZcamsr. You're a good dude.
I love the filing "cabinet".
Nice insights into how all this works. Best of luck to you, and keep it up! I always enjoyed your videos, so I look forward to more.
Move your desk over to the other side, so you can pound on the wall and annoy the Wizard all the more! 😃
Aerio-La. LOL! AND a we got a "Urination Bob" reference! Great episode Tyler!!
Shame the Top Gear Liana's MOT expired in 2013 ☹️ I remember reading somewhere at the time it was put out to pasture that it could not be driven on roads again due to safety concerns and modifications 🤣 it says it was at the motor museum in Beaulie at one point 🧐
Good luck with the new venture.
Congratulations on the new business!