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So if you're buying a car worth $30,000 and your trade-in is worth $20,000, you'd be charged taxes only on the $10,000 difference between your new vehicle and your old one.
The used car sales tax is the state’s tax rate (7.25%) plus the city’s rate (2.25%), for a total of 9.5%. If you spend $20,000 on a used car, you’re paying $1,900 in sales tax.
CarGurus shares answers to the most important questions about taxes when buying and selling a car.
With a tax rate of 8.25%, Nevada car owners pay nearly $4,000 on their new car purchases. Filling up at the pump is also pricey, costing almost $3,000 yearly. 1.
No matter where you buy your car, you’ll need to pay taxes in the state in which you register it (although a dealership might collect the sales tax and give you a receipt, per Car and Driver).
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For example, if your state charges a combined 10 percent in state and local taxes, and you buy a $40,000 car, you can expect to pay $4000 in taxes. If you have a trade-in worth $10,000, you can ...
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