Lars99

The OP looks like he's from the DFW area in Texas, which looks like it has a 6.25% tax rate on purchases. That's like 3k on a 50k truck.

BoozeDaily

iTrader: (2)

He only pays the difference on a trade-in. If he buys another for 50 and gets 45 for his, he pays 6.25 on 5k. $310 bucks maybe?

roadPilot

Over and above dealer fees (paperwork, administration), registration and title fees, and the depreciation of the truck (probably several thousand just there) ...

BoozeDaily

iTrader: (2)

In DFW, this is what he'll pay (est):

Difference in price x .0625 for tax
Dealer inventory fee ~ $115
Registration: $71
Title Fee: $33
Inspection: $23.75
Document Fee: ~ $150 (mine was $75, I asked for this)

That's it. When I traded mine in, my total fees were $768. This includes tax.

Ricktwuhk

Michigan actually now gives you partial credit. In December 2013 I traded and got a $2,000 credit, so $120 in taxes. Each year the amount goes up $500 for 25 years, so in 2015 the number would be $3000 of credit.

Still stinks, but anything is better than nothing.

nra4ever

I vote total bloodbath but I hope it is not!

See If you can qualify yourself for x plan and do the test drive of the truck you think you want and then decide.

Too bad it's not like BMW that will take the vehicle back.

2015Rick

I know in Michigan you have 3 days to return the vehicle and can not put over 300 miles on it. My cousin had to do this with a car he bought when his insurance company quoted one price then they contacted him and said they made a mistake. He was unable to afford the insurance. He returned it after 2 days and had 280 miles on it. I thought I would look this up and I guess my cousin lucked out. It looks like Michigan does not have buyers remorse laws. All you can do is talk to them and maybe you will get lucky. Good luck

bignfast

In a lot of states you only pay taxes on the difference of your trade.

msgford

OP let us know what you end up doing.

zacharyz

Yikes. Good luck but I bet you will take a hit in the thousands. Even so, probably still worth it to be happy. Keep us posted.