Quote:
Originally Posted by Nachos Libres
What you owe on your trade-in doesn't have any effect on the sales tax. All that matters is the sales price of the X7 minus the value they are giving you for your trade-in. So if $87,500 is the price and the dealership is giving you $20,000 for the value of your car you are trading in then you will be assessed tax on $67,500. It doesn't matter whether you owe $15,000 on that car or $25,000, the sales tax will be the same.
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Thanks for the clarification! I kinda thought that was the case but wasn't sure. Does it make a difference if I'm buying the car in Oklahoma?