Questions on taxes/title/reg. in Fl

[Erik B]

How do I figure out how much the total cost would be for a purchase of a NSX if I register it in Florida? I currently live in Cheyenne, WY but I have my cars registered in Florida because thats my perminant home of record.

Also, if I purchase a car for lets say 47.5k. Im taking a loan out for only 30k and paying the rest out of pocket...do I have to pay taxes on 47.5k or the 30k loan? Just trying to get a few last min numbers before i go thru with the buy. Thanks for any help.

VR
Erik B

 

[NSX-Files]

How do I figure out how much the total cost would be for a purchase of a NSX if I register it in Florida? I currently live in Cheyenne, WY but I have my cars registered in Florida because thats my perminant home of record.

Also, if I purchase a car for lets say 47.5k. Im taking a loan out for only 30k and paying the rest out of pocket...do I have to pay taxes on 47.5k or the 30k loan? Just trying to get a few last min numbers before i go thru with the buy. Thanks for any help.

VR
Erik B

Unless you and/or the seller "fudge" on the declared sale price, you'd pay sales tax on the $47.5k purchase price, not the loan amount. State sales tax is 6% and I believe the particular county where you register it may add 1-2% (not sure if they do this for cars). You'd also have to pay the registration and title fee (probably another $100-$200) which can be made cheaper if you have a license plate to transfer onto the new car.

 

[Erik B]

Aw ok...got it thanks man