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Tax implications on trading in vehicle vs selling yourself
Tax implications on trading in vehicle vs selling yourself Buying a new car for my wife, her existing car seems to generally be listed for around 35k for a similar model with similar mileage. New car will be roughly 50k. The dealership offered me 28k for the trade in. One thing I heard from a friend is if you trade in a car you save on sales tax (in this scenario it looks like we would owe tax on 12k i...
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