Trade in question

[12Bravo20]

Missouri does. I call it the yearly extortion for owning property to include any type go road legal vehicle, ATV's and some UTV's, and all boats with any type of electric or gas motor attached. Plus we have the yearly extortion (real estate Tax) on homes and land. Mobile homes are weird as they get taxed the same as vehicles. We also get assessed property taxes on livestock. Yes even chickens are taxed.

I can fill out a form each year that allows me to get 75% of my property/real estate taxes back since I am a disabled vet.

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[Langwilliams]

Like others said in Ohio you don't pay sales tax on what you're given in trade since you paid sales tax on it when you bought it. Here that's 6.75% in my county. They offered me $25K for my 2019 xlt 4x4 with 44K on it in trade on a bronco I ordered. I paid $26K for it in Dec 2019 thanks to $6100 in rebates an getting "A" plan. Tax savings for me is almost $1700 so I'd have to get $26,700 in cash. The only thing I'm worried about is the new interest rates since I'll be borrowing just over $30K. My 2016 fusion was 0% interest an the ranger is 3.7%

No property tax on car tags here. I paid around $75 for the year for the ranger. My brother in KY has to pay it so he usually looks for cars 2 years old or so the lower the hit.

 

[Wytchdctr]

Missouri does. I call it the yearly extortion for owning property to include any type go road legal vehicle, ATV's and some UTV's, and all boats with any type of electric or gas motor attached. Plus we have the yearly extortion (real estate Tax) on homes and land. Mobile homes are weird as they get taxed the same as vehicles. We also get assessed property taxes on livestock. Yes even chickens are taxed.

I can fill out a form each year that allows me to get 75% of my property/real estate taxes back since I am a disabled vet.

I need 10% more VA disability to get 100% of my property taxes back.

One of my vehicles is exempt from yearly registration. The other will go thru toll roads for free if I stop being lazy and get the plates/paperwork done.

but.... as far as I know; in Texas - no way to avoid sales tax on anything via vet benefits.

Just the tax benefit of the trade in value; that everyone gets.



Also - "Essayons" (12B34 that went 42A44 when my knee went bad; then 420A before I got retired because clumsy + Iraq + WOCS = I don't really have a knee.. sort of the concept of one)

 

[Wytchdctr]

Depends on the market. If they mostly sell 4x4 then a 4x2 will get lower value. I plan to drive my ranger till the wheels fall off at this point.

Lots of 4x4s here - hell that is what I was looking at grabbing myself. A low mileage used white tremor that came with all the gizmos I wanted and two swing cases !! but ... intrest rates. Just.. no.

At least I know I am not upside down on the truck. So that was the plus of going thru all that to not end up with the other vehicle.

 

[12Bravo20]

I need 10% more VA disability to get 100% of my property taxes back.

One of my vechiles is exempt from yearly registration. The other will go thru toll roads for free if I stop being lazy and get the plates/paperwork done.

but.... as far as I know; in Texas - no way to avoid sales tax on anything via vet benefits.

Just the tax benefit of the trade in value; that everyone gets.



Also - "Essayons" (12B34 that went 42A44 when my knee went bad; then 420A before I got retired because clumsy + Iraq + WOCS = I don't really have a knee.. sort of the concept of one)

We don't get any breaks when it comes to sales tax here in Misery either. I'm rated at 70% UI and get paid at 100% since my disabilities are considered total and permanent. I get one set of disabled veteran plates free of charge with no cost for renewals. My DV plates are on my Ranger so the only thing I had to pay was sales tax ($70).

I was 12B and 51B (construction) until I was injured in 1991. I then got reclassed to Machinist 44E. My MOS was 44E20H8 when I was medically retired in 1996.

 

[9zero1790]

i realized if i did get a good amount to come out ahead on a new car or truck - right now i dont see any models i even like that would replace the 5g. The new toyota, gm, nismo and ranger are all overpriced and ugly. The 6g raptor looks ok but they cost a testicle / kidney with longer higher rates. I talk a lot of poop about my transmission and im still mad about the headrest but in the current climate the 5g ranger is tough to beat. i saw the new gm midsize and at first glance i thought it was a toycoma. im tired of all the stuff looking the same. the 5g has enough difference in body shape that its not just like all the trucks from 100 feet away.

 

[rufanyia]

You've got the basics of trading in a vehicle right! If your current vehicle is worth more than the loan you owe (not upside down), you can indeed trade it in and use the difference towards your new vehicle. In your example, if you trade your truck for $35,000 and your loan payoff is $19,000, you'd have $16,000 to put towards the new vehicle.
Just keep in mind that negotiations and trade-in values can vary, so it's always a good idea to work closely with the dealership to ensure you're getting the best deal possible. If you ever need advice on financing options or managing your finances, consider consulting a Mortgage Broker in Altrincham. They can provide valuable insights into your financial decisions.

 

[JimG_AZ]

You've got the basics of trading in a vehicle right! If your current vehicle is worth more than the loan you owe (not upside down), you can indeed trade it in and use the difference towards your new vehicle. In your example, if you trade your truck for $35,000 and your loan payoff is $19,000, you'd have $16,000 to put towards the new vehicle.
Just keep in mind that negotiations and trade-in values can vary, so it's always a good idea to work closely with the dealership to ensure you're getting the best deal possible. If you ever need advice on financing options or managing your finances, consider consulting a Mortgage Broker in Altrincham. They can provide valuable insights into your financial decisions.

Interesting! I can see talking to a mortgage broker about financing options, but I am not sure about talking to one about managing my finances. Think about it, your recommending talking about managing your finances with somebody who makes a living off selling long term loans. Maybe it would work out, but the odds are not in your favor. Just a thought, but would it be a better idea to talk with a real financial advisor who gets paid on ROI rather than someone who sells loans.

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