Quote:
Originally Posted by Humdizzle
its gonna hurt a bit trading in / selling a brand new car. especially a high end luxury item that isn't limited. best bet to find out how much it would be worth is checking autotrader and see what people are selling them for.
also i'm not sure how sales tax works in your area. in my state we get a sales tax credit. so if you sell a 70000 dollar car, then purchase a 90k car in 6 months you only pay taxes on 20k. some states i think you are forced to trade in to a dealer to get this credit. some states don't have it at all.
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In Arizona he will only get credit if he trades it in. Then his taxable base is the net charge. Otherwise, he will pay tax on the full price with no credit for the taxes previously paid.