trainwreck

moved to pac heights in san francisco. yea, i take caltrain or taxi anywhere i go. i will be getting a beater from my parents to commute to the train station. the area where i park is not s2000 friendly (or cars worth more than $5000).

Euclid

You will pay the difference between the price of the new car and the value of your trade-in. So if you are buying a civic and the price is say $20,000, and the value of your trade-in is $15,000 (regardless of how much you owe). You will have to pay taxes on $5,000.

I traded in my 00 Celica and my S2k for my legacy. The trade in value of my two cars was > the subie. I didn't have to pay any sales tax on the legacy.

But this may be dependent on which state you live in.

TommyDeVito

I'm about to do this as I will be trading the S2000 for a Civic Si Sedan. I need more room now because I bought a house (Costco/Home Depot trips) and the S just can't cut the mustard and I don't have $ for 2 cars right now. The bonus is a cheaper payment, cheaper insurance, and better gas mileage.
Anyway, I will not be paying any tax on the new car as the value of it is less than my trade. Only thing I have to pay for is title, registration (DMV chit) which amounts to about $300.

trainwreck

that is the route i want to go...i am thinking civic, fit, or yaris. i dont really drive much anymore.

TommyDeVito

I'd get a Civic Si Coupe or Sedan then. It's a nice trade and you'll still have a nice gearbox, some modest power, and good handling. The Fit or Yaris is too big of step down for me. I'm looking forward to the Si.

esmith

Yep. In California, you have to pay sales tax on the full purchase price of your new car, trade-in value is irrelevant.

gomarlins3

We traded down and still payed sales tax in CA, but then the People's Republic of EL California taxes EVERYTHING when ever they can.

hirev

parking in the city can be an issue, the smaller and lower valued car has the advantage as spaces are small, streets old and narrow, traffice thick, and vandalism is high...that being said if you have a garage the honda is a good car to keep, nobody sees them as high value cars and if you keep nothing in the cabin worth stealing the car should be fine for limited street parking...over night is might get ripped, there are gangs that roam around looking for these cars at night .

a beater and or any other car....you pay dmv registration and sales tax with the reported value just like a new car. the dmv charge is based on value and it is lower than it has ever been in years thanks to da governator who signed a bill that lowed the fees ...thank you.

probably in the long run if you stay in that part of the city and drive little you would benifit from a smaller cheaper car....parking costs alone can be expensive (garage rental)....but if this is a temp move, short term, you can bet keeping your honda will be just fine, and more fun.

Chris S

I "traded down" from a Supra TT to my first S2000, and walked away w/ several thousand $$$ cash. I didn't have to pay any taxes, just title and reg. (<$100).

suvh8r

Check out the GTI. Much better choice than the civic IMO. DGS rules, MUCH more passenger/cargo room, and it doesn't "feel like a civic".

$500 chip and you are looking at 250hp / 300 lb ft of torque.