Quote:
Originally Posted by Krish_1
Hey all, been a while since I posted here, quick question on trade-in.
If I trade a car that I own that's worth $40K to a dealer, and buy a car that's worth $100K, I would only pay sales tax on the difference, which is $60K.
If I trade a car that I own that's worth $40K to a dealer, and lease a car that's worth $100K, would I pay only the difference in taxes on the difference? Or does it not work like that?
I have an opportunity to trade in my 2018 Imola M3 for an F90 M5 for a good deal, but I am being told that trade-in/lease doesn't work the same as trade-in/purchase. Am I losing it? I thought it was the same.
|
I think leases are different.