Quote:
Originally Posted by themnmd
Quote:
Originally Posted by lemetier
Quote:
Originally Posted by themnmd
Anyone else have the same rule as California when it comes to sales tax? Here the state charges tax on the full MSRP of the car. That is before any down payment, cash back or trade in. Would not be so bad except the tax is 8.5% where I am in San Francisco Bay area. So basically any negotiated discount and loyalty cash is negated. Sorry just a rant while planning my M5 order in the spring.
Rob
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In CA, a Use Tax is assessed (tangible personal property Tax) on vehicles/boats/planes at the same rate as the state + applicable local jurisdiction Special Additional Tax based on the purchaser's domicile.
If purchasing, it's based on the selling price (not MSRP). |
not when registering you car |
Yes it is on a new purchase. Lease and used/out-of-state is different. There is no credit for trade however.
*Licensed CA Dealer
Rebates/incentives from manufacturer to customer do not reduce the purchase price. They have the same consideration as cash on a purchase. Manufacturer to dealer incentives do count as a non-taxable reduction.