Tips for selling my current ICE F-150

[DanielM92563]

Don't forget to check your state laws on sales tax. In NY you only pay tax on the difference between the trade in and purchase price - which can mean quick of bit of savings to offset any benefit of selling privately.

If you do decide to sell, I would recommend going with an online dealer like Vrooom, Carvana, Carmax, etc. You can get a quick quote and they are a large company so you know they will pay up. I have heard they are offering great prices.

Does anyone know if this applies in California? Tried google but hard info to find.

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[Stlww18]

Missouri for the win!

Missouri needed a win. (Just a playful poke from an Arkansan of the south Bostons)

Sometimes I feel like we're competing with Florida to be the worst state, so I'll take a win!

We store the family's boat on the Arkansas side of Table Rock Lake, so I won't bash AR

 

[cvalue13]

Does anyone know if this applies in California? Tried google but hard info to find.

According only to this Car and Driver article, it suggests that California does not offset for trade-in value

Sureoy some Californians can weigh in with corrections

“Do California Vehicle Taxes Apply to Trade-Ins and Rebates? California's vehicle taxes apply to the vehicle's full price before trade-in credits or rebates are applied. Many dealerships offer credits for trade-ins that decrease your out-of-pocket cost for the vehicle. For example, you may get a $5000 credit for a trade in that you can apply toward a $15,000 car. You will only pay $10,000 for your vehicle, but the state still taxes you for the full $15,000 purchase.”

 

[VTbuckeye]

In Missouri you get the tax benefit whether it’s a dealer trade or a private party sale.

Vermont allows the credit for both dealer and private sale. We have a grace period of 3 months on either side of the transaction. Sell car, 75 days later purchase a replacement and get credit. Purchase car and 80 days later sell another, get credit. In these situations you need to pay the sales tax and then submit paperwork (bills of sale us tax form) and get a check from the state.

I get the same benefits with regards to sales tax credit and I don't have to live in Missouri (No offense intended to Missouri. We have our own issues with a couple Dinosaur senators, one of which is a wee bit further to the left and claims to be out for the little guy while being a multi millionaire and refusing to acknowledge that some business is necessary).

 

[Stlww18]

Vermont allows the credit for both dealer and private sale. We have a grace period of 3 months on either side of the transaction. Sell car, 75 days later purchase a replacement and get credit. Purchase car and 80 days later sell another, get credit. In these situations you need to pay the sales tax and then submit paperwork (bills of sale us tax form) and get a check from the state.

We actually get 180 days and it's deducted when you request the title for your new vehicle. But then again, we also have a personal property tax each year on motor vehicles, so they end up getting us that way....

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