What's the sale tax break when you are trading in a car on another car in FL?
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AudiWorld Super User
Joined: Jul 2001
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From: Orlando, FL
What's the sale tax break when you are trading in a car on another car in FL?
One guy is telling me you only pay tax on the new car, not the traded car. Which means to me, you pay full asles tax on the car you buy, and just give in the old car and only have to pay what's left of the loan (if trade in value is hort). You pay no taxes on the given trade-in value.
And I've heard that you only pay the difference in tax between what you paid in tax on your trade-in and what the new car's sales tax would be. Ex: Paid $3000 when you got your trade-in car and registered it, and the new car you want is $3300 in sales tax at registration, so you only pay $300 at time of registration for sales tax.
And I've heard that you only pay the difference in tax between what you paid in tax on your trade-in and what the new car's sales tax would be. Ex: Paid $3000 when you got your trade-in car and registered it, and the new car you want is $3300 in sales tax at registration, so you only pay $300 at time of registration for sales tax.
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