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Old 11-05-2012, 01:17 PM   #1
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Trade in Jeep for newer or pay sales tax?

Hey guys,

I bought my jeep in February 12.

2011 JK 70th anniversary edition.

I was under the impression I wouldn't have to pay sales tax on the vehicle. Boy was I wrong. Even though Tennessee does not charge sales tax on vehicles bought within the state, since I bought it out of state, I have to pay 7% of the sticker price. Which would come out to about 2300 dollars.

I currently owe 19K on it and KBB says it's worth 25K (I know I won't get that if I trade it in). If I purchased a new jeep, it would be a new 12 or 13 and I wouldn't have to pay sales taxes on it.

Would yall trade in or pay the taxes? I need some honest advice. I love the jeep and don't wanna go away from the family.
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Old 11-05-2012, 01:21 PM   #2
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Sit down with a dealership and see where you'd come out on a trade, and definately be prepared to walk if they start playing funny business with the numbers.
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Old 11-05-2012, 02:45 PM   #3
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If your payments stay the same then sure I would trade an 11 for a 12. If it doesn't work out that way then I would just pay the sales tax and keep the 11.
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Old 11-05-2012, 07:19 PM   #4
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February 12. And you are finding out about the taxes now?
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Old 11-05-2012, 07:24 PM   #5
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Ill give my generic response:

Cash out and get a fleet of YJs, lol.
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Old 11-07-2012, 11:30 AM   #6
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Wow, we get 30 days to pay TTL (Tag, Title, License) on a vehicle just purchased, aftr that it's a daily fine. If you waited this long already, does it increase a penalty or anything? If not, maybe use tax return money to pay it - if you get any...
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