need suggestions please

[coolhub]

I've recieved a great price from one of the forum dealers for an 07 coupe. I need to sell our other car before I can buy this one. The problem is I would have to pay sales tax on the full amount of the 07coupe. If I trade at local dealership, I pay tax on the difference of the two. If I try to sell outright, I might get more but then I got the problem of people not showing up, people coming to your house that you don't know, how long will it take to sell, etc. Any suggestions?

[crawfish333]

You do not say what state you are in, but in some states you can show your sales record from you old car to the tax people and deduct that much of the gross amount from the price of the new car, just like a trade in.

Example:

New Corvette Price: $45,000.00
Proceeds from sale of C5: $25,000

It is my understanding that given this scenario (in my state) you would only pay the tax on $20,000.00, rather than $45,000

You may want to check the law in your state.