Quote:
Originally Posted by shoopajae10
Why do you pay less taxes if you trade in your car?
I've noticed this before on my 350z purchase when i traded in my scion, i paid less taxes, does anyone know why this is?
sorry if this is noob question.
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Quote:
Originally Posted by whoady4shoady
Im wondering the same thing. It doesnt sound right to me, but I hope it is true.
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when you trade in a vehicle to purchase a new one, you only pay tax on the difference in price.
example:
new car = $30,000 ; trade-in value = $20,000
you only pay tax on $10,000.