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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.
You must pay vehicle sales tax when you buy a used car if you live in a state that has sales tax. However, you do not pay that tax to the car dealer or individual selling the car.
5. Review the confirmation page. It will offer you the option of changing to a lower-priced plan rather than canceling your account. If you'd like to proceed with changing your account to a free AOL account, scroll to the bottom of the page and click Cancel My Billing. 6.
Sales tax on large purchases, like a car, is crucial to factor into the price. Depending on where you live and the price of your car, sales tax can cost you thousands of dollars. But did you know ...
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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 ...
To determine the most expensive states to own a car, GOBankingRates surveyed and totaled the cost of buying and owning a car for one year in all 50 states. This included car sales tax, average ...