Pay tax on MSRP or actual sale price?
We bought a new Fuzion a couple weeks ago in Colorado. Just got the title in the mail, and noticed that the price listed was the inflated MSRP, which was $50,000 more than we paid. So, we're sitting...
Forum Discussion
CHBurris wrote:
Sorry I didn't specify, but we bought a Fuzion 404 toy hauler, not a Ford Fusion. The MSRP is completely ridiculous, but they explained to my husband that they put that price on there for people who are borrowing money and can only borrow a certain percentage. Something like that, anyway. Ha. Makes no sense to me.
Let's say the msrp is $100,000. If they sell it to you for $75,000 and you are financing it. They can say you are paying $100,000 and putting $25,000 down. Looks good to the bank when you are going to borrow. Same as they do on cars. Car is $25,000 but you are getting a $5000 rebate which goes back towards the car. So you look like your getting a $25,000 car and you put $5000 down on it.
The reason we have the title is because we didn't take out a loan on it, but didnt pay sales tax where we bought it because we live in a different state.
Now that could cause some issue. Both states may be looking for that tax money. Usually one will offset he other. May not be a problem for you, but then it could.
