Your vehicle serves you loyally for years, but eventually, the time comes when age takes its toll and it’s time to move on. Of course, buying a vehicle completely out of pocket can put stress on your budget. That’s why trading in your old vehicle can go a long way toward saving money. The Ford financing team at our Stafford, TX, dealership provides all the information you need to get started.
Reducing Sales Tax
Sales tax always needs to be considered in your budget when purchasing your next vehicle. Factoring in a couple extra thousand dollars can be the difference between taking home the keys or setting your sights on something less expensive.
This is where vehicle trade-ins can be highly beneficial. By trading in your old vehicle at Helfman Ford, you can deduct the value of your trade-in from the total sale price of the new vehicle. This means the amount you get taxed for is significantly less.
Here is an example. Let’s say your current vehicle is worth $6,000, and the desired vehicle is worth $12,000. By trading in the $6,000 vehicle, you directly lower the amount of sales tax you would have to pay by half. The more expensive the car is, the more money you will save on taxes.
Figure Out Your Trade-In Value
If you’re wondering how much your current vehicle may be worth in, our financing team at Helfman Ford offers tools to help you get the required information. Our trade-in value estimator will help you make a more informed purchasing decision and allow you to create a more accurate budget.
Stop by our Ford dealership today to learn more about the advantages of trading in your vehicle. We look forward to helping you find and purchase your dream car!
Categories:
Finance