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Started By
Message
re: trading in a vehicle
Posted on 1/23/14 at 9:45 am to chesty
Posted on 1/23/14 at 9:45 am to chesty
quote:
I am thinking about paying down extra 500 in principle in order to give myself extra equity to ensure that TT&L on my new vehicle will be covered. is this a good idea?
I'm not really seeing how this will have much effect. You'd be getting like 9% of $500 by doing that. Is the extra $45 really making a difference?
1
Posted on 1/23/14 at 10:07 am to LNCHBOX
quote:
I'm not really seeing how this will have much effect. You'd be getting like 9% of $500 by doing that. Is the extra $45 really making a difference?
The amount of loan payoff is not a factor in the sales tax calculation.
How long will it take for the new vehicle to come in, and what is the interest rate of the old loan?
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