Last post on Apr 28, 2013 at 10:34 AM
You are in the Smart Shopper
What is this discussion about?
Car Buying, Car Selling
#2962 of 3217 Re: sales tax w/trade-in (new jersey) [riz3]
May 31, 2012 (4:46 pm)
Everyone here is correct, there isnt a tax benefit on a lease. You did pay SOME salestax to California, and maybe NJ, based on each monthly payment which equals the amount of 'car that you used'. The tradein tax benefit is for people that gave the state a lot of sales tax when they bought it, and now get some of it back in essence because they didnt keep the car its entire useful life. In simple terms, you however didnt pay very much sales tax, thus dont really get to use that as an excuse to not pay it this time. Its a USE tax, and used your lease, so that part cant be credited to you.
#2963 of 3217 Re: sales tax w/trade-in (new jersey) [rickhassold]
by kirstie_h HOST
May 31, 2012 (6:36 pm)
Bingo! To everyone who responded. The fact that it was a leased vehicle, instead of a purchased vehicle, makes all the difference in the world. Thanks to everyone who helped solve this consumer's dilemma!
#2964 of 3217 Re: sales tax w/trade-in (new jersey) [kirstie_h]
Jun 02, 2012 (12:21 pm)
Except that nobody took into account the following: how did he trade in a leased car??
OP - did you buy it before trading?
#2965 of 3217 Re: sales tax w/trade-in (new jersey) [robr2]
by kyfdx HOST
Jun 02, 2012 (12:33 pm)
It's easy to trade in a leased car... They all have a payoff amount that the bank is willing to accept, in exchange for the car..
It's no different than if you have a financed car... If the dealer puts a higher trade-in value on it than the payoff, then you have equity...
Some banks won't let you sell your car to an individual, but I've never heard of an instance of where they won't let you trade it to a licensed dealer..
I did it with my first three leases..... though, I've turned in the last four or five...
#2967 of 3217 Are VW GTI's hard to sell?
Jun 14, 2012 (11:22 am)
I just bought a pickup to replace my GTI as a second car thinking because my GTI was low mileage and like new condition I would not have a problem selling it - WRONG! Even though I priced it below the private party price on KBB I never had any calls. I then advertised the truck with the idea of selling either one. I did get several calls on the truck and three showings with one lowball offer. I would rather sell the VW as that was the original idea but was wondering if that model is particularly hard to sell even in top shape. maybe this is just a slow molnth for car buying, but as I menmtioned I am getting interest in the truck. Now I don't know whether to drop the price on the truck below what I paid just to relieve me of the liabilty.
#2968 of 3217 Re: Are VW GTI's hard to sell? [wordsworth]
Jun 14, 2012 (12:52 pm)
I'm not a dealer, but I'll chime in anyway.
It really depends. KBB is not a good yardstick. If you want to give more details, I can give you a better idea of what its worth. I'm guessing it is a relatively new one (??), which makes private party selling more difficult because the large majority of newer car buyers are going to go to a dealer where they can work on nailing down a monthly payment using in-house financing.
#2969 of 3217 Re: Are VW GTI's hard to sell? [wordsworth]
Jun 14, 2012 (1:33 pm)
I'm currently looking for a low mileage GTI. Please post details like color, 2 dr or 4, dsg or manual, mileage etc etc. Might be interested.
Jun 14, 2012 (4:28 pm)
This is a two door 2008 GTI. 38K mi., with 6speed manual trans currently listed in Autotrader in zip code 85118. Trader ID is AT134-B6F26. Priced at $14750
#2971 of 3217 Re: GTI Detail [wordsworth]
by Mr_Shiftright HOST
Jun 14, 2012 (4:45 pm)
Price is good --fair enough---not sure what the problem is, other than the usual supply and demand equation.
Well, it might be the color, no sun roof, or your zip code, etc. Also maybe too much information in the ad. You sound a bit anxious.
Small nit=picky comments I know, but that's all I can think of. But it's not the price.