Tax Benefits of Trading in Your Car

Did you know that you can receive tax benefits and other advantages when trading in your vehicle? At Sansone Nissan, we’re pleased to offer flexible Nissan financing alongside some helpful tips.

Trade-In vs. Selling Privately

Selling a car alone can require a lot of work. You’ll have to factor in advertisements, DMV trips, and directly communicating with customers, which could be a hassle. However, if you trade in at our dealership, you can quickly receive an appraisal for your car on our website.

Sales Tax

When you trade-in your current vehicle for a new one, you’ll pay a lower sales tax, because you’ll only have to pay taxes on the difference between cars. So, if you purchase a $20,000 car but trade in your current vehicle for $7,000, you’ll only pay sales tax on the $13,000 difference. This will save you hundreds of dollars!

You can even use the leftover money towards a down payment on a new car, which will save you a decent amount of money in interest as well.

How to Trade in Your Car 

Drivers can only receive these tax benefits on eligible trade-ins, but the vehicle trade-in process at our dealership is simple. First, choose your desired vehicle and consider your finance options.

You’ll then want to access your current vehicle, note any damages, and ensure you have the required paperwork. Then, you can bring your vehicle to our dealership, where we’ll happily give you an estimated value.

Value Your Trade-In at Sansone Nissan

To learn more about trading in your vehicle at Sansone Nissan, we invite you to visit our Nissan dealership, where a staff member will happily assist with all your questions.

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