Quote:
Originally Posted by Camfab
How the heck is your sales tax only $1,800? In Los Angeles you’d pay $13,766 on $144,904. Actually some areas are even higher than 9.5%
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You only pay sales tax once. Since he traded in a financed vehicle where he already paid tax the first time, and they bought the loan out from him, they can only charge sales tax on the difference between the trade in and the new car for the new loan.
It's weird but that's how it works.
And yikes, $2700 a month for a Corvette? I hope its a 2 year loan. That seems like an awful lot to pay interest on just to own a C8 Z06.