Disc Brakes
Bought a new fifth wheel ,new to us anyway. Bought from a friend , he had negotiated a trade in for a new 2020, and of course they were not giving him anything near what it was worth, I offered to bu...
Forum Discussion
cummins2014 wrote:fj12ryder wrote:Cummins12V98 wrote:As I have stated before, unless you check with your state DMV, you don't know that you couldn't have applied the money you received to lower the sales tax. That is the way it works in Missouri which I didn't know for quite a few years. You have to fill out the forms as to how much you received when you sold it, and that applies to the price that was paid for the new unit. Sales tax is reduced accordingly.
Pics??? What upgrade??? MORryde???
NOTHING better than Disk Brakes. Anyone saying Drums are just as good, well......
Your buddy did get scrued as he did not get the trade in value removed from his total cost so he could have saved Sales Tax on the trade amount.
I had a friend sell me his 98 12V for what Dave Smith would have paid him on trade. I asked what about the sales tax he would have saved??? He said I would rather you have it! Good Friend!!!
No forms here in Utah , you trade in a vehicle ,they subtract the trade in value , you pay the sales tax on the difference not the purchase price of the new vehicle , thats done right at the dealer, and you are done ,and licensed .
Of course, this assumes that the trade-in price is decent enough that the sales tax savings makes up for the difference you could have got on a trade-in. In my experience, you're still ahead on a private sale of the old vs trading it in, in =most= cases. Here in AZ, you'd "save" about $800 (depending on location) in taxes on a $10k trade-in. If you could sell privately for $12,000, you're still ~$1,200 ahead. Just sayin'...
Lyle
