Posted 2011-06-23 9:33 AM (#135070) Subject: trading in horse trailer
New User
Posts: 2
I am trading in a used horse trailer for a used horse trailer. We have to pay 3000.00 difference plus tax. Dealer said we have to pay the tax on the full price of the one we are trading in for. Is that sound right????????
Posted 2011-06-23 9:40 AM (#135071 - in reply to #135070) Subject: RE: trading in horse trailer
Extreme Veteran
Posts: 399 Location: Ottawa, Illinois 61350
Don't know what your state tax laws are, but here in Illinois you would pay tax on the difference of the trade price. You might call your DMV and find out what tax your liable for.
Posted 2011-06-23 9:41 AM (#135072 - in reply to #135070) Subject: RE: trading in horse trailer
Extreme Veteran
Posts: 399 Location: Ottawa, Illinois 61350
Don't know what your state tax laws are, but here in Illinois you would pay tax on the difference of the trade price. You might call your DMV and find out what tax your liable for.
Posted 2011-06-23 10:04 PM (#135089 - in reply to #135070) Subject: RE: trading in horse trailer
Expert
Posts: 3853 Location: Vermont
Originally written by 4dovster on 2011-06-23 9:33 AM
I am trading in a used horse trailer for a used horse trailer. We have to pay 3000.00 difference plus tax. Dealer said we have to pay the tax on the full price of the one we are trading in for. Is that sound right????????
Posted 2011-06-24 9:10 AM (#135102 - in reply to #135070) Subject: RE: trading in horse trailer
Regular
Posts: 51 Location: Edwards Ms
In Ms they would add taxes to the full purchase price of the trailer you are buying and then take the trade/down payment etc off the balance. So yes that sounds about right>
Posted 2011-06-25 9:41 AM (#135124 - in reply to #135070) Subject: RE: trading in horse trailer
Extreme Veteran
Posts: 326 Location: Gallatin, TN
I am in TN and we just recently traded in our trailer on a new one and we paid tax only the amount we paid in cash for the trailer. The trade in value was subtracted from the sale price.
trading in horse trailer
I am trading in a used horse trailer for a used horse trailer. We have to pay 3000.00 difference plus tax. Dealer said we have to pay the tax on the full price of the one we are trading in for. Is that sound right???????? 
