buying in mi
09-19-2005, 06:46 PM
#1
buying in mi
Found a great 2005.5 A4 in MI and was wondering if anyone knew the details of buying out of state. Do I pay MI taxes or IL? What if there's a difference? I also was told that in IL your trade-in reduces the sales taxes (I've never traded in before), but in MI it doesn't.
If anyone has bought in MI while living in IL, I'd be interested in hearing about it.
If anyone has bought in MI while living in IL, I'd be interested in hearing about it.
09-19-2005, 07:12 PM
#2
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I've bought two cars out of state...you pay IL taxes (county) and yes the trade in is deducted.
You should get a bill of sale that has the amount that you paid minus the trade in. That is what you pay taxes on. The IL secretary of state office website describes somewhere on there the forms you need to have and fill out.
09-20-2005, 06:52 AM
#4
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Actually, he can't pay any MI tax without an address in MI. Like marknmtt said....
he'll have a sales contract from the MI dealer that will list the sale price and the trade in value on both vehicles. It'll be better for him to pay the tax in IL and take the trade in credit as this will make the tax liability only on the actual cash difference. I.E. New car = 40,000...trade in credit of old car = 30,000...cash difference of 10,000 x 6.5% (or whatever his county of residence is) = tax liability of 650.00 vs tax on whole 40,000 = 2600.00
09-20-2005, 03:27 PM
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Not sure about MI, Just bought a car in IN and they charge IN state tax to out of state buyers.
IN passed a law beacuse of all the people buying cars there that the dealers have to charge the IN tax to all buyers. This is why I had to pay the 6% or so on the 65k and then the difference for the extra % in cook county. Also cook county counts the dealers doc charge as a taxable item and IN does not.
It may be different in MI.
It may be different in MI.
09-20-2005, 09:45 PM
#6
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Obviously need to check by state...one Audi from Boston, I had a blank bill of sale..
whatever I wrote in was it. Other car in Florida. Same thing. As long as I had a bill of sale and the right forms on this end they really didn't care. Cars were registered in City of Chicago, but only paid Cook county tax thank god. Can't say the same of the RS 6. I just about bought an RS 6 out of Dallas. Same story. No sales tax on their end and blank bill of sale.
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