'04 Lariat crew SD 250 powerstroke, long bed. in Black. fully loaded but the moon roof. Damit! ( fx4 pkg, BF goodrich 265's AT, 6 disk cd changer, power sliding rear window, limited slip 3.73, skid plates, cab running boards, floor mats, 8800 gvwr pkg. electronic shift on the fly, adjustable gas/break pedal, dual alternators, reverse vehicle aid sensor, trailer hitch receiver at 12.5k, leather heated seats
Base $41,500
doc fee 45.00
ca tax 3,427
lic 529.00 but I'm taking the truck directly to Alaska. Could I ask them to wave that fee? Do I have this right even though my home address is on the contract and I'm moving to Alaska next week? Would hate to pay dmv 500 for nothing.

tax lic. $45, 506
I owe 18,601 on my trade in. comes to $63,000.
They are giving me 9,000 for my '99 f150 4x4

$ 63,000
-$9,000 = $54,600

- $1,500 rebate from Ford =$53.100

Should not I be writing a check for 53,108? Not 53,600 He screwd me out of 500.00 I haven't taken possession of the truck yet. I saw that their dealer invoice was $41,400. Will someone please help me out with this. Really appreciated. Thanks

 

According to your math, there may be an error. The sales tax you should pay is based on you home state. Ex: I live in Atlanta where we pay 7% sales tax. I bought a car in North Carolina about 5 years ago where the sales tax was 3%. I was not eligible for the 3% tax since I lived in GA. If you live in Alaska, then you should get this corrected. If you are simply moving there in a few months, then you have to pay CA tax. The dealer should have given you a copy of the paperwork. Check there first. Good luck.

 

marc, no AK address yet. So was stuck with ca. I was to get the truck for 2% above invoice so maybe that is where that extra 1k went.

 

Just curious how can you owe $18,000 on a truck that is only worth 9,600 for a trade?

 

I'll be a bit more clear...I owe 18,600. they are giving me 9k for my truck and just adding the other extra 9.6k to the contract. so instead of paying 44,000 I'm paying 53, 600

 

firstford,

No offense intended, but I think George gets the picture. I think he is referring to the fact that you got hammered on your trade in. My uncle recently sold his '97 Chevy Z71 extended cab (with 160,000 miles on it) for $10,500. How can you owe so much on a truck worth so little??? Maybe because your truck was undervalued during your trade in. That, or you had financing on the 99 that was either high interest or extended terms. Did you check the kelly blue book or NADA web sites to make sure you were getting the proper value for your trade?? To be upside down by $9,000 is reason to stay in your current vehicle and trade later. I'm sure you had your reasons, but from a financial perspective, you just overpaid on your new truck by 9K.

By the way, did you find your paperwork to see if you could figure out where the mystery money came from?

 

Not sure what the tax % is in CA, but if the truck is 41,500 less your trade in of 9,000, you should only be paying tax on 32,500. Plus maybe some of the fees, but not sure of that.

 

I'm paying the extra 9k because I stated I still owe 18,600 on my f150 I've had 10 extensions. I'm getting 9k on my trade in. A little low considering... and when I give them the 9,600 more, then it's paid off. The dealer certainly isn't going to pay the 9k for me. that is what I will still owe on the truck to pay it off . I think both of you are wrong on this one. Correct me because sometimes I'm slow but I think I explained it right. Maybe go back to my numbers and see if it makes sense.

The dealer invoice was 41,400 and I got it for 41,500. Of course, dealer invoice is different than dealer costs in most cases.
my trade in has a slight dent that you can hardly see on the side of the bed and the bumper has a dent in it. I blue booked my truck between 9 and 12k. Hope this helps. thanks alot.

Just remember, I still owe the 18,600. I'm giving them the entire payoff of 18,600 + the price on my new truck. When you subtract the 9k you get the 53,600 price. If my f150 was paid off I would have paid only 45,506.

 

George is right, you do not pay tax on the 'trade in value' of your old truck. You already paid taxes on the truck.

Your math should look something like this:

new truck 41,500
+ doc fees 45
+lic fee 529
TOTAL 42,074

- trade value 9000

TOTAL 33,074
+Tax % 3427
+ pay-off 18600
of old truck
- Rebate 1500

TOTAL 53,601

To be honest, I may have the doc fee and the license fee in the wrong place because you may not have to pay tax on them. Tax IS charged before you consider rebates since rebates are considered the same as down payment money. You do not pay taxes on trade in value or on pay-off amounts. If you have more questions, maybe call or visit another dealer.

Again, good luck.

 

I think Mark and I understand the situtation. It is just you don't pay tax on the trade-in value. If you are paying $3,427 Tax on 33,074 that is over 10% sales tax. I would think Arnold would be impeached if the Sales Tax was that high. Your tax should be on the price of the truck less your trade-in. Pretty much the way Mark has it outlined in his post.

 

How soon are you moving to AK? Some states give you up to 30 days to register/pay sales tax on a new vehicle purchase, so if you are moving to AK before the 30 days is up, you may be able to wait until you get there. However, you need to check with your current state's DMV to get the straight scoop.

 

If I've got the right information the Sales Tax in CA is 7.25%. With Marks breakdown you should be paying $2,397 sales tax which is 7.25% of $33,074. That's a difference of about $1,030 to much sales tax. I'd go get the paperwork checked.

 

Oh I see now. Look, I knew I should have gone over this but I trusted the guy. what this bastard did was illegal and I'll be walking into his office in the morning when or if I pick this truck up. Hey had me sign already and I wrote the check but they will issue it back to me when I give them the cashiers check.

Can this contract still be re-written? I will not stand for this.Damn, you cannot let your guard down but I learned a lesson. Don't trust any person. Figure the damn thing out for yourself before you even leave the table.

what nerve this guy had? HE must of not like the idea that I walked in in shorts since it was in the evening and it was hot all day. And I thought the guy liked me but he saw that I was leaving out of town and took advantage of me signing that night. I should not have. I should have just gave a down payment of 1k to maybe hold the truck! Thank you for the help on this tax deal.

 

You have a legal window of three days to change your mind and get your money back. My F-250 SD 6.0 was list for over $46000 for an '04 model and I paid $37k for it net of rebates and they added my $5000 for a damaged Audi I traded in. I had $3500 in rebates on 12/31/03. Never trust a car salesman and treat them like you are ready to walk out and be prepared to do it. Ask for your money back in writing and see how nice the guy gets. He will work it out on the tax. Also go to another Ford dealer and ask them to beat the deal.

 

You posted a thread about your ESP warrenty costing too much too. Its sounds like your salesman is raking you over the coals. I would change my mind on that deal and go somewhere else. Just out of curiosity, how many miles is on you trade in? Plus it sounds like you are paying MSRP-not good.