trainwreck

i have just moved into the city and dont really have the chance to drive my car anymore. i was considering trading down to a civic to free up some cash, and unload some debt. how do the taxes work? would i have to pay sales tax again on the value of the car i am receiving? thanks in advance for your replies.

Doug1627

I could be wrong but I am 99% sure you will be paying sales tax again.

sam_spider

99.99999999% Yes.

pbm317

depends on where you live... in Washington State and Illinois, your trade goes towards your new car price... since i'm guessing your current car is worth more than the civic you're looking for, you wouldn't pay any sales tax in that case. if you were trading up, you'd only pay tax on the difference between your trade in value and the final price of your new car. again, thats at least the case in Washington and Illinois.

trainwreck

wow i hope thats the case, cuz i paid almost $3,000 in taxes when i bought the care new. the reason why im trading down is to save money!!! i would hate to have to pay it all over again...

also are there any other fees that go along with this type of transactions??? any estimates on dmv and registery costs?

dombey

won't you have to pay DMV/Registration on any car?

Depending on the state, you may have to pay based on vehicle value.

kix

You live in california... you SOL since you will have to pay tax again

rai

may be better to keep your already taxed car.

I used to trade in too quick (every 2-3 years) but now keep my cars 5-8 years to spread out the tax and the depreciation pain as much as possible.

trainwreck

yea i think i ll just keep her. i cant bear the thought of going back to a civic anyways.

simon122

where'd you move to? you take public transportation now?