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re: How do the taxes work when trading in a car?
Posted on 2/17/14 at 9:31 pm to rpg005
Posted on 2/17/14 at 9:31 pm to rpg005
quote:
Posted by rpg005 What happens when you sell a car yourself then purchase one at the dealership? Do you still pay the difference in taxes?
No you pay the full amount of taxes- it only works with a trade-in
1
Posted on 2/17/14 at 9:53 pm to LSUGUMBO
All depends on which state you're in.
In Arkansas if you sell your car within a 45 day window of buying the other car then you can take the bill of sale to the DMV and use it as a tax credit.
I did it on my last car transaction.
In Arkansas if you sell your car within a 45 day window of buying the other car then you can take the bill of sale to the DMV and use it as a tax credit.
I did it on my last car transaction.
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