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Quick car deal question

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Old Feb 11, 2005 | 07:11 AM
  #11  
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i don't see how that's double taxation on the gs-r but i guess it might work differently in NY than CA.
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Old Feb 11, 2005 | 07:22 AM
  #12  
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cuz when you bought it, you paid sales tax on it... so if they make you pay sales tax on the amt. that you still owe, that would be double taxation....
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Old Feb 11, 2005 | 10:21 AM
  #13  
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Trade in value is always lower than private party. If the salesman tries to give you more on your trade, you're getting screwed somewhere else on the four square.
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Old Feb 11, 2005 | 10:23 AM
  #14  
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Originally Posted by ISP James
cuz when you bought it, you paid sales tax on it... so if they make you pay sales tax on the amt. that you still owe, that would be double taxation....

well no. because you aren't paying tax on the trade in value for the gs-r. you are paying tax on the new car then you subtract the trade in value from that total. but like i said the tax laws maybe different here.
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Old Feb 11, 2005 | 10:27 AM
  #15  
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what kind of car are you looking at anyways?
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Old Feb 11, 2005 | 10:38 AM
  #16  
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Originally Posted by JCEN
what kind of car are you looking at anyways?
TSX w/ navi
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Old Feb 11, 2005 | 10:40 AM
  #17  
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You don't pay "sales tax" on them "buying" the tradein from you. But the taxes on the value of the tradein are not deducted from the taxes you pay on the purchase of the new car.

You pay sales tax on the full agreed-upon price of the car. The value of the trade is counted as a down payment for the loan.
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Old Feb 11, 2005 | 10:53 AM
  #18  
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Originally Posted by BonzoAPD
TSX w/ navi
LUXURY nice
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