Question: Taxes?

gongju · 03-09-2010, 12:20 AM

Okay this may be a stupid question but how do they calculate the cost for tax when you purchase a new vehicle? Basically, I got quoted 64K for a new M3 plus an additional $4000 for taxes. Texas sales tax is 8.25% and this doesn't equal $4000? Can anyone help me out and explain?

Thanks!

kcdude24 · 03-09-2010, 09:57 AM

In kansas it is about 7% X (Total purchase price -Trade value). If you sell you car outright via private sale then it is around 7% of the Total purchase price.

Suprane · 03-09-2010, 10:37 AM

New vehicles in Texas get taxed 6.25% ....on 64K thats 4K...correct...

gongju · 03-09-2010, 10:57 AM

Thanks, that makes sense

TTG · 03-09-2010, 08:48 PM

We pay close to 10% up in WA State...... Land of Boeing, Amazon, Starbucks, Microsoft & etc for you :-)

03-09-2010, 12:20 AM	#1
gongju Private First Class Drives: 2010 JBMetallic e92 M3 Join Date: Apr 2006 Location: TX Posts: 126 iTrader: (0)	Question: Taxes? Okay this may be a stupid question but how do they calculate the cost for tax when you purchase a new vehicle? Basically, I got quoted 64K for a new M3 plus an additional $4000 for taxes. Texas sales tax is 8.25% and this doesn't equal $4000? Can anyone help me out and explain? Thanks!
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03-09-2010, 10:37 AM	#3
Suprane Second Lieutenant Drives: 09 M3 E90 Join Date: Jul 2009 Location: Big D Posts: 280 iTrader: (0)	New vehicles in Texas get taxed 6.25% ....on 64K thats 4K...correct... __________________ 09 E90 M3 DCT SSII Carbon Blk, Eisenmann Sport, RAC 19"RG63 on 255/275 UltracS, Dark Sidemkrs/Reflectrs/Grills, BMC Filter, LUX H8 V3 LEDs, V1 H/W, Ultimate Pedals & 30% Tint

03-09-2010, 08:48 PM	#5
TTG ... Drives: 2011 E92 M3 Join Date: Aug 2006 Location: Seattle, WA Posts: 2,592 iTrader: (2) Garage List 2011 BMW M3 [3.78] 2007 335 Coupe (ret ... [4.00]	We pay close to 10% up in WA State...... Land of Boeing, Amazon, Starbucks, Microsoft & etc for you :-) __________________ Retired: 2011 E92 M3 AW w/ Silver Novillo ZCP, ZTP, ZPP, 494, 6FL, 507, 302 & 415.....ED April 29th, 2010 Retired: 2007 E92 335i -Space Gray, Black Leatherette + Alum, Nav, ZCW, ZSP, PDC, CA & Sunshade.....ED Oct 19th, 2006

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03-09-2010, 09:57 AM	#2
kcdude24 First Lieutenant Drives: 2011 M3 Join Date: Feb 2010 Location: KC Posts: 319 iTrader: (1)	In kansas it is about 7% X (Total purchase price -Trade value). If you sell you car outright via private sale then it is around 7% of the Total purchase price.

03-09-2010, 10:57 AM	#4
gongju Private First Class Drives: 2010 JBMetallic e92 M3 Join Date: Apr 2006 Location: TX Posts: 126 iTrader: (0)	Thanks, that makes sense