In a pickle...
So as we all know about these financial times everyone is doing bad and im stuck in whether i should wait a year or so and buy a 370 or wait around 6 months to get a 350 or something of that sort.. i want the 370 but the impatience is killing me... thanks
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Why get a 350 in six months, when 6 months more you can get a 370! A 350, can't be a substitute for the 370.
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I understand the fact that you can get crazy deals on 350Zs but every time you will see a 370Z on the road, you'll be upset. Just get the 370Z. Trust me you won't be upset ;) . Dealers are selling the 370Zs at invoice and you can get good financing from credit unions. Also, gov is giving you a tax relief at the end of year for buying a car. So, it's not a bad time to buy a car (considering you have a stable job)
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whats the tax relief you speak of?
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thanks everyone ya i think im gonna wait its just to sick of a car!!!
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yeah my accountant told me about that when i filed my taxes for last year thats why i was not worried about the CA tax increase just for that reason :tup: |
just to make sure i understand this correctly...isn't this tax deductible only to lower your taxable income... i believe you do not get a full refund of the taxes you paid on the car... nontheless, i think it will still get you savings...especially with the raised taxes in CA..
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i bought my car in the beginning of February =(.... do you think i can still get it because I didnt' register or barely even drive my car til march because I was saving up to pay the tax on the car since i got it out of state!!!! =(... and im 22 =/
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Yes, you can still get it. As long as you bought the car in 2009, you are qualified and can write off the sales tax of your vehicle. Since you bought it before the tax increase, you will only be able to deduct the 7.75% from your taxes, not the 8.75. it boils down to what the sales tax was for your car. its more or less for some, depending on the final sale price of their vehicle.
Its a shame they dont offer it as straight cash instead of just a deduction though :( |
sweeet!!! thanks for the info!!
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There's a max income of $70k per year or something to qualify for this. |
^ D:
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The deduction is limited to the state and local sales and excise taxes paid on up to $49,500 of the purchase price of a qualified new foreign or domestic cars, SUV's, light trucks, motor homes or motorcycles that weigh no more than 8,500 pounds. You can still buy a qualifying vehicle for more than $49,500 (e.g a $80,000 BMW per a commenter's question below), but you will only get a tax deduction up to the specified limit. The deduction is only available to families making less than $260,000 (or $135,000 for single filers). It is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers. The new vehicle must be purchased on or after Feb. 17, 2009, and before Jan. 1, 2010, to qualify for the deduction. Purchases before Feb. 17, 2009, are not eligible for this special deduction. |
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