Question:
When you buy a used car that is privately owned and NOT from a dealer, do you still have to pay tax? My dad said something like for every $1000 the car cost you have to pay $80. The car I want is $15,000 and my dad said tax would be $2000. He said it's the only way to register the car, you have to pay tax. Is this true?
Answers:
Anyone know invoice prices for utility tractors such as Kubota and John Deere?
It's partly true. The taxes differ from state to state.2004 Dodge Ram 1500 or a Lincoln Ls?
I live in Michigan, and here we have to pay a 6% sales tax, so it would be $60 for every $1000 instead of $80. And, yes, it's on all vehicles sold, either used or new, dealer or private party, no matter the condition.
Wheres the best sight/place to buy really cheap used cars? for like 500$?
I bought a Geo Tracker for $3200, and it was private party (bought it from a local pastor, even), and I had to pay $192 for the sales tax, plus $117 for a license plate before I was allowed to drive the vehicle freely. So, total was $309. Plus, I had to have proof of insurance, which was $200 down at the insurance company plus $100 every month, though it's gone down since then because of my spotless driving record.
For your 8% tax ($80 for every $1000), and figuring plates are a similar price in your state, factor in about $1200 for the sales tax and at least $100 for lisence and registration (my plate was $117 because it was a personalized plate - regular plates were $97, and this was two years ago). This brings you to at least $1300, plus whatever insurance premium you have to pay, to get the car on the road after you've bought it.
I ran across the same stumbling block buying my Tracker, and had to let it sit in the yard for three months while I saved up the money for insurance, tax, and license/registration (of course, being semi-laid-off didn't help).
We are looking for a FORD GALAXY?
I hope this has answered your question. If you have any more, please feel free to ask.
Clio 182... racing blue or artic blue?
Depends on where you live. In Massachusetts you have to pay a sales tax to the RMV of $5 per $1000.On private sales they use the NADA retail book to establish the price, usually higher than the price you paid.
State's sales taxes vary from 1% to 8%.
If you have an 8% sales tax your dad is correct except for the math. 8% of $15,000 is $1200.
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