View Single Post
Old 04-13-2013, 03:53 PM   #23
invaderzim
 
invaderzim's Avatar
 
Drives: 45th SS, '12 ducati 1199 on order
Join Date: Mar 2012
Location: DFW
Posts: 438
Quote:
Originally Posted by rock1962 View Post
Trade in value gets subtracted from the value of new car and taxes are calculated on the difference.
The tax that was paid on the car being traded in aren't included in the value. That money is gone. You're going to lose that money plus have to pay a smaller amount, but an amount none the less, of taxes on the new one as well. Assuming he paid $58k cash OTD he's still going to pay taxes on the $10k or so that its going to cost him to trade it in for another color. Unless my math is off that's still tax + more tax. On top of new title and license. All for a new color. Like others have said, it might be cheaper to just pay $8k or so for a new paint job.
invaderzim is offline   Reply With Quote