sales tax on buying a car (minus trade in value)?
#1
Registered User
Thread Starter
iTrader: (1)
Join Date: Nov 2002
Location: The Nutmeg State
Posts: 513
Car Info: 05 Impreza CGM
sales tax on buying a car (minus trade in value)?
Hey guys when you are buying a car obviouly you have to pay the great California sales tax of 8.25%.
So if you trade in a car do you pay sales tax on the difference or sitll pay the whole thing?
Like I buy a a $32k car
I trade in my car for $15k
Do I pay sales tax for the new car for the difference? $17k or the whole $32k? I think I only pay for the $17k but I want to run ot on people that traded in before (I have not yet)
Cheers and thanks for input.
Nick
So if you trade in a car do you pay sales tax on the difference or sitll pay the whole thing?
Like I buy a a $32k car
I trade in my car for $15k
Do I pay sales tax for the new car for the difference? $17k or the whole $32k? I think I only pay for the $17k but I want to run ot on people that traded in before (I have not yet)
Cheers and thanks for input.
Nick
#3
You'll be paying sales tax on the full purchase price of the car.
Your trade in is basically another form of paying for the car... its the same as if you put down 17K in cash instead of trading in a 17k car.
Your trade in is basically another form of paying for the car... its the same as if you put down 17K in cash instead of trading in a 17k car.
#5
VIP Member
iTrader: (9)
Join Date: Nov 2002
Location: ...a craphole in No.County San Diego
Posts: 3,928
Car Info: MMVI AW WRX STI
Oh and from someone who's investigated it...unless it's an '03 with low miles, getting $15k in trade-in will be tough for a WRX. Unless you're paying sticker for the STi.
#6
Registered User
Thread Starter
iTrader: (1)
Join Date: Nov 2002
Location: The Nutmeg State
Posts: 513
Car Info: 05 Impreza CGM
Originally posted by mexicanpizza
Oh and from someone who's investigated it...unless it's an '03 with low miles, getting $15k in trade-in will be tough for a WRX. Unless you're paying sticker for the STi.
Oh and from someone who's investigated it...unless it's an '03 with low miles, getting $15k in trade-in will be tough for a WRX. Unless you're paying sticker for the STi.
I knew the state would not lose anything on that.
Nick
Thread
Thread Starter
Forum
Replies
Last Post