Trade in value on a 993TT?
09-09-2005 | 04:03 PM
#16
Thread Starter
Pro
Joined: Oct 2002
Posts: 650
Likes: 0
From: Madison,WI
Originally Posted by AC.
Galardo are great cars, but maintenance is going to be up there. I had a couple of Fcars (348SS and Testarossa) and man were they EXPENSIVE to keep up (maintenance and repairs) compared to the TT. At the end I ended up selling the Fcars for the TT and couldn't be happier (lets just say a 30k service and a few additional repairs were about $9k on the Testarossa). But man you definitely are in another league when you drive around in a Lambo or Fcar (everybody looks, even people who don't know anything about cars)
I plan on being buried in my cab,,so i'll never be without a P-car.
There is just this curiousity about owning an Italian car.I hope it delivers.
09-09-2005 | 04:03 PM
#17
Racer
Joined: Aug 2004
Posts: 324
Likes: 0
From: Los Angeles
I am no pro, but you pay sales tax on the purchase price of the vehicle. Trade in car is a credit towards this, and should not offset your tax. Someone is paying the gov...... I have been wrong in the past... once maybe.
Michael
Michael
09-09-2005 | 04:08 PM
#18
Racer
Joined: Jun 2002
Posts: 461
Likes: 0
From: Northern New Jersey/NYC
As for taxes, it depends what state you live in. In NY and NJ, you pay tax on the difference.
For example;
New car cost = $10k
Trade In value (credit) = $4.5k
Taxable = $5.5k (again that is the way it works in NY and NJ)
For example;
New car cost = $10k
Trade In value (credit) = $4.5k
Taxable = $5.5k (again that is the way it works in NY and NJ)
09-09-2005 | 04:55 PM
#20
Intermediate
Joined: Oct 2003
Posts: 27
Likes: 0
From: Southeastern, MA
You can recoup the tax savings even when selling a car privately in some states. Here in MA, there is a form you need to fill out and purchase the new car within a certian time frame (30 days??).
CHeck with your local DMV to see if they have a similiar deal.
CHeck with your local DMV to see if they have a similiar deal.
09-09-2005 | 06:42 PM
#21
Burning Brakes
Joined: Aug 2002
Posts: 753
Likes: 12
From: St. Louis
Same here in Missouri. If you sell a car privately, you have 180 days to purchase a new car and only have to pay taxes on the difference. I just did it a few months ago. Check with your DMV.
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