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Don't forget the tax break on a trade-in (archive)

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Posted by Jim Scott on April 28, 2000 at 07:06:56:

In Reply to: trading in car vs. selling it myself(long many q's posted by pkts on April 28, 2000 at 00:37:07:

Not sure if every state does this but here in Louisiana you get a tax break on the value of the trade-in.

Example: You get $30,000 for your trade. The new or used vehicle you purchase costs $40,000. You only pay state sales tax on $10,000. With 9.5% sales tax trading your car for $30,000 would save you $2,850 dollars in sales tax.

If selling to a private party you would have to sell it for more than $32850 (trade-in value + tax savings) for it to be worth you time.

Jim Scott
99' M3 Techno

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