Are you preparing to sell your current vehicle and purchase a new one? There are lots of perks to trading your vehicle in instead, including a few tax advantages. Our Alfa Romeo finance experts at Helfman Alfa Romeo are weighing in.
What are the Tax Benefits?
When you buy a vehicle, you must pay sales tax, which is calculated by multiplying your total purchase price by the sales rate (when measured as a decimal). However, if you have a trade-in, that lowers your total purchase price which, in turn, lowers the amount of sales tax you owe.
What are the Other Perks to Trading in?
Saving on sales tax is just one of the many perks of trading in at the dealership.
These are a few of the other benefits to consider:
- You avoid the hassle of selling—no need to take pictures, make posts, meet for test drives, etc.
- It saves time—it could take days, weeks, or even months to sell on your own
- It’s trustworthy—you don’t have to worry about fraudulent payments (or taking test drives with strangers)
- There are options to rollover your loan if you have an existing lien
How Do I Get the Most for My Trade-in?
We look at several factors when determining the value of your vehicle including its current market value, its demand, your mileage, and more. We also consider the vehicle’s condition, so bring your vehicle in clean and clear from clutter. You may also want to consider minor repairs, if they’ll help.
Trade in Your Vehicle Today
Stop by our Houston Alfa Romeo dealership to get an estimate on your trade-in value anytime or we can get started with your trade-in if you’re ready to begin. Visit us to upgrade to a new Alfa Romeo car or SUV today!
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