Originally Posted by
GotJDM?
If a new car is, let's say, $30,000, do you pay tax on that price?
Or do you pay tax on the price AFTER your trade-in and cash-down payment?
Or just after your trade-in?
Thanks!
lul.
no, you pay tax on the price of the car. why would you pay tax after initial payments (trade in and down payment).
Originally Posted by
Megatron
I don't know how it works in your state, but in IL:
Price - trade in allowance = Total Taxable Amount
Down payments are deducted after the Total Taxable Amount.
thats' retarded. trade in is just another form of payment so why would that deduct from the taxable amount?