What is sales tax like in your area? When I had bought my SR+ at $39.9k, there was an additional $5k in taxes and registration fees for me in California. Only reason I came out ahead in my sale of the car was due to the fed, state and utility rebates.
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Unhappy with the Resale value for my 2019 Model 3
- Thread starter leeh97
- Start date
renewed tax credit will be on lower priced cars only I believe for SR/+? I'm in the same boat and wondering if a new fed tax credit would o allow me to upgrade to higher ranger. I even have a spare car (that I'm saving for my 14.5 yo son) that I can drive while I'm waiting.
Knightshade
Well-Known Member
Nobody actually knows since it's been through about 9000 revisions and none of them have actually become law yet.
yes but I might just place an order to hedge/ monetize the current used market for a free upgrade... maybe.
Problem is about 9% tax in AZ and the free VLT is going away 1/1/22 so I'd have to know tax credit b/f that. The only way to avoid sales tax is to trade thru TSLA and I believe the inflated used prices aren't thru them but carvana etc.
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That's honestly quite depressing. You took a roughly 10k hit on the vehicle after tax. What prompted you to sell the car?
ODWms
Member
I didn’t take any hit, I made like over 5k and drove the car for a year. I bought the car during a price drop, bought fsd when it was 7k, got a 5k rebate and didn’t pay any sales tax. I jumped to a plaid.
A quick search of the interwebs suggests not only is there no sales tax on EVs in NJ, but there's no mention of a holding-requirement for the EV that got the $5k rebate. Both of those surprised me.
It is in the agreement under Applicant Eligibility:
6. Retain ownership, or an active lease agreement, and registration of the vehicle with the New Jersey Motor Vehicle Commission for a minimum of 36 consecutive months immediately after the vehicle purchase or lease date. Leased vehicles must reflect a minimum of 36 months on the original lease agreement.
No sales tax is absolutely a thing, and there's no holding requirement for that.
The rebate, however, absolutely DOES have a 36-month requirement. Any less than that, and you're supposed to pay back the prorated share of the rebate (1/36th for each month remaining.)
Now, being a state government.... will they catch on? Probably not right away. But someday - probably when the state's in a budget crunch - someone will run a VIN audit and send out a set of retroactive bills. Then we'll have a Channel 7 news segment called "Tesla Nightmare!" and they'll feature a bunch of folks complaining about how this isn't fair and they had no idea and why are they being singled out and they wish they had bought a Chevy.
Yeah, I can see it now.
The market is absolutely nuts right now. A friend of mine recently sold his M3 LR that he bought back in June at $48k to a small EV dealer here in my state for $53,500. That more than made up for sales tax he paid for it and the 20" black Tesla wheels he bought for it from a private seller. He decided he had the need for an SUV so he sold his M3, bought an ID.4, and didn't have to pay sales tax on it because his M3 was sold for more than the purchase price of the ID.4.
I am currently in the process of working with GiveMeTheVIN to finalize their purchase of my Mustang Mach-E Premium. I actually wasn't planning to sell it, but when they offered $54k for a car I paid $47k for in August, and for which I'll be receiving the full $7500 tax credit next spring, it changed my mind. I have had a M3 SR+ on order since early July, *almost* cancelled it when I bought the MME, but thank goodness I didn't! Now I'm just torn between hoping it gets delivered within 60 days of signing off on the bill of sale for the MME so I can get the sales tax break, or taking delivery in '22 when I *might* be able to get the renewed tax credit. Eh, it's a win win either way for me I suppose.
Incidentally, right before I decided to sell the MME, I requested a custom plate saying "REDSHFT," as that car is Rapid Red and it's a nod to other physics nerds. Wouldn't you know it, the SR+ I'm waiting for also happens to be red, so no need to scrap that plate!
I am currently in the process of working with GiveMeTheVIN to finalize their purchase of my Mustang Mach-E Premium. I actually wasn't planning to sell it, but when they offered $54k for a car I paid $47k for in August, and for which I'll be receiving the full $7500 tax credit next spring, it changed my mind. I have had a M3 SR+ on order since early July, *almost* cancelled it when I bought the MME, but thank goodness I didn't! Now I'm just torn between hoping it gets delivered within 60 days of signing off on the bill of sale for the MME so I can get the sales tax break, or taking delivery in '22 when I *might* be able to get the renewed tax credit. Eh, it's a win win either way for me I suppose.
Incidentally, right before I decided to sell the MME, I requested a custom plate saying "REDSHFT," as that car is Rapid Red and it's a nod to other physics nerds. Wouldn't you know it, the SR+ I'm waiting for also happens to be red, so no need to scrap that plate!
You're going to have to return the rebate since you didn't own the car for the required minimum time frame. I did not know about the lack of sales tax, that's a nice incentive.
bobby g
Member
Was about to say the same thing. You'll likely get your asking price. It seems like a really good price
I just did, ordered a white on white LR a few days ago 10/25. Expected mid or end December. I will sell the car with the lighter weight Enkei black enamel 19” wheels. I have the Tesla 19” ones powder coated so I’ll use those and sell the 4 aero 18” wheels. I will start the selling process of my SR+ about a week or so before EDD of my LR. Carvanna will be my first thought. Any comments or ideas.
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