Still browsing the local shops for a decent 370 and have a quick question for you guys.

If I purchase a car at a dealership and they have it listed for $20,000 and I put a $5,000 down payment. Do I get charged sales tax on $20,000 or $15,000?

$20,000

It may vary from state-to-state, but Memphis370Z is probably right. A down payment is just "up front money" and no different, to the gobbmint, than the rest of your payment(s). The tax man is going to get every penny he can.

https://duckduckgo.com/?q=car+sales+tax+PA

Yeah, I didn't think about it possibly varying by state. I've done hundreds of auto loans (as a lender and underwriter) and tax has been charged on the full sales price of the vehicle. Think of it this way, Kevin; if you went to a store and wanted to buy something that cost $100, but gave the seller $25 cash and used your credit card to pay for the remaining $75, the seller would still collect the sales tax for the full sales price. Hope this helps.

Gotcha, thanks all! I went to CarSense today to get my 2009 Honda Civic Si appraised. It Kelley Blue Books at $9400 fair vaule, the offered me $7500...What a joke!


I would sell it private party but I have never sold a car with a loan on it.

Welcome to the fourms!

Go with the Z and I guarantee you won't look back. If you want to avoid some of the earlier mechanical issues I suggest getting a newer model though. :tup:

How much do you owe on the Civic? and well from my experience CarMax gives one of the best and fairest appraisals around

I owe $7000 on it. The CarSense rep said he would appraise it at 9000 but apparently the vehicle was involved in a "minor" accident according to the carfax.. The dealer I bought it at back in 2013 never told me. It was a Certified Pre Owned so i never even thought to ask..

I am going to try and private sale it and have the potential buyer come to me to the bank the loan is issued to and hopefully go from there.

I would be happy to get 9500-10000 for it. Which I feel is fair. The car is in very good shape.

Hell since I have owned the car ( early 2013) it hasnt seen a winter. I always garage it as well!

This. Make sure they bring cash or certified funds. Also, you will probably want to speak with someone at your local branch to ensure that someone will be there that can actually assist you with the payoff of your loan, as well as take care of the paperwork to transfer the title.

Good luck with the sale!

A minor accident? what was it? because for a car to be certified pre-owned it has to pass and inspection along the lines of that, not only that non-disclosure of the accident on a certified pre-owned vehicle is I believe in breach of contract.
I know in CA that salesmen have to disclose a Carfax and a True Car report with any and all accidents before the vehicle loan applications are inputted. Just so your credit does take a hit and get run if you find out the vehicle has an accident and don't want it then.

Depending on your credit you could probably get a fairly good payment due to putting 5k down
My Z on paper I got down to $18.5k from the 22k sticker price. $394.xx/month 5.05% APR and I just turned 21 last week so getting a good deal is possible, but you gotta be patient and look for the right deal
I looked at Z's for almost 3 and a half months before I found one that I wanted to start negotiating price with a salesman.

The AutoCheck Report says Minor to Moderate Damage Reported. That was on 11/04/2009. Oh well. Live and learn I guess.

Welcome to the 370Z forum

:worship:

-Clifford :welcome: :tup: