997S Great condition! Fully optioned! - Page 2 - 6SpeedOnline

Apr 25, 2011 | 12:40 PM

#16

keninirvine

Registered User

Joined: May 2007

Posts: 2,481

From: Blaine, Wa (not in Irvine anymore)

Rep Power: 194

Year: 2007
Make: Porsche
Model: 911
Price: $53900
Mileage: 31000
Color: Arctic Silver
Private or Dealer Listing: Private Listing
Location (State): NY
Transmission: Manual
Drivetrain: Rear Wheel Drive

Quote:

Originally Posted by thnxbabe

If you trade that car in and get $40K from the dealer toward the purchase of a $60K car, you would only pay tax on $20K. So at 7% instead of paying $4200 (.07 x $60,000) you save $2800 in tax (.07 x $40,000) and get a $1400 tax bill on the car. In this example your car is really worth $42,800.

I think the question related to an income tax break, not sales tax. There was a car purchase tax break program for 2009 and/or 2010 income taxes, but I don't know if it is in effect for 2011.