mattm
Senior Member
- First Name
- Matt
- Joined
- Nov 1, 2023
- Threads
- 3
- Messages
- 74
- Reaction score
- 46
- Location
- Connecticut
- Car(s)
- Acura ITS, BMW 1M Coupe
Dealers paperwork is accepted as is. If a private seller is selling a 2024 ITS for $24k, it'll get flagged and the DMV will say the tax is higher. But there is a minor loophole: If the seller signs an addendum on the transaction saying they sold it at a low price it can go through. But the DMV is not stupid (most of the time). Yes, CT DMV does use the NADA values.
So buying a ITS for $51,995. $1,995 will be taxed at the higher rate. Because we wanted the transaction to stay at a lower tax (cost of the car /here is the breakdown:
$49,396.00 (keeping you at 6.35% tax)
$599.00 dealer conveyance fee
$250.00 CT Registration
$3,174.68 CT sales tax
Total: $53,407.18
But those numbers total $53,419.68. Dealer math.
So buying a ITS for $51,995. $1,995 will be taxed at the higher rate. Because we wanted the transaction to stay at a lower tax (cost of the car /here is the breakdown:
$49,396.00 (keeping you at 6.35% tax)
$599.00 dealer conveyance fee
$250.00 CT Registration
$3,174.68 CT sales tax
Total: $53,407.18
But those numbers total $53,419.68. Dealer math.
Sponsored