Trade in tax credit being hit by the Pricster?

[dun4791]

So you can buy a $100k car used and only pay $1500 in taxes??

No fucking way that stays...i give it 2 years max before the regular sales tax rate applies to all private party transactions and they use KBB or NADA values to determine if you're lying about the purchase price

Yes. Main reason I didn’t buy the z new. Save 10k drive off depreciation and 5k in taxes.


Edit.....I only need 5 years from this August then bye bye lol

 

[FirstWorldProblems]

The dealership lobbyists are going to raise this is a huge issue with legislators, the legislators are going to realize they're losing a lot of tax revenue, mark my words it's just a matter of time before the private party tax structure matches the dealership tax structure

 

[dun4791]

The dealership lobbyists are going to raise this is a huge issue with legislators, the legislators are going to realize they're losing a lot of tax revenue, mark my words it's just a matter of time before the private party tax structure matches the dealership tax structure

I’m guessing most people are afraid to buy expensive vehicles privately....well that and they are lazy. So it might not be that much revenue lost now, but maybe in the future like you say with the new laws coming. Illinois is such a shitty state. I can’t wait to spend the pension I earned in Illinois at my place in Tennessee

 

[Yaj Yak]

So you can buy a $100k car used and only pay $1500 in taxes??

No fucking way that stays...i give it 2 years max before the regular sales tax rate applies to all private party transactions and they use KBB or NADA values to determine if you're lying about the purchase price

yes.

it's been this way for quite some time, i don't think enough private party sales to make it really matter.

they do use nada/kbb to see if you're lying about purchase price- that's why it says "fair market value"

my buddy bought a cts-v years ago for 13-14k straight up- got a letter in the mail saying he owed more because it for sure was over 15k. he fought em and won.

i got a similar letter from wisconsin for my truck- actually wound up realizing i OVER paid taxes (by like 70$ or something) and i asked for my money back- they somehow didn't refund me go figure.

but yeah- when i just bought my bmw- $65 in tax. no one blinked an eye.

 

[FirstWorldProblems]

yes.

it's been this way for quite some time, i don't think enough private party sales to make it really matter.

they do use nada/kbb to see if you're lying about purchase price- that's why it says "fair market value"

my buddy bought a cts-v years ago for 13-14k straight up- got a letter in the mail saying he owed more because it for sure was over 15k. he fought em and won.

i got a similar letter from wisconsin for my truck- actually wound up realizing i OVER paid taxes (by like 70$ or something) and i asked for my money back- they somehow didn't refund me go figure.

but yeah- when i just bought my bmw- $65 in tax. no one blinked an eye.

Jeeeesus. I’d never buy from a dealer

In Indiana the only tax savings would come from lying about purchase price, lol.