RX 350 Quote
08-21-09 | 07:06 PM
#1
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From: maryland
RX 350 Quote
Got a price today on a 2010 RX 350. Car prices out at $47829.00 and can buy for $43765.00 plus tax and tags. I also have a 1990 Bronco I could use for a Clunker trade... and take another $4500.00 off... Hard to part with the Bronco since it has been with me since new. Anyway, thoughts on the $43765.00 price tag. This is a new inbound vehicle, due in now...It has the new Lexus enforce.
08-22-09 | 05:51 AM
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Driver School Candidate
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From: maryland
that is correct... problem is inventory is low and selection not real good. lots of black vehicles at my dealer... wife wants a white one, which we were told is inbound next day or two...dealer will do the VIN thing on clunker , but we are then committed if something is wrong with new vehicle...no wiggle room once we give them the clunker. at least that is my understanding.
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08-27-09 | 07:53 PM
#8
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From: az
of course this was communicated after the cash for clunkers program is ended, rather than before.
thus the few hundred extra you got using cash for clunkers is lost and then some with the taxability of the 4500.
08-28-09 | 01:20 PM
#9
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From: FL
I found this.
Is the rebate subject to being taxed as income to consumers that participate in the program?" The answer posted right there in bold capital letters states "NO." The answer goes on to explain that "The CARS Act expressly provides that the credit is not income for the consumer." This is as plain as day as an answer can be when it comes from the Government, and there isn't much there that can confuse the reader that is looking to learn more about the Cash for Clunkers program. This is not an income to consumers, and therefore isn't under an income tax penalties.
Is the rebate subject to being taxed as income to consumers that participate in the program?" The answer posted right there in bold capital letters states "NO." The answer goes on to explain that "The CARS Act expressly provides that the credit is not income for the consumer." This is as plain as day as an answer can be when it comes from the Government, and there isn't much there that can confuse the reader that is looking to learn more about the Cash for Clunkers program. This is not an income to consumers, and therefore isn't under an income tax penalties.
08-28-09 | 01:33 PM
#10
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From: az
I found this.
Is the rebate subject to being taxed as income to consumers that participate in the program?" The answer posted right there in bold capital letters states "NO." The answer goes on to explain that "The CARS Act expressly provides that the credit is not income for the consumer." This is as plain as day as an answer can be when it comes from the Government, and there isn't much there that can confuse the reader that is looking to learn more about the Cash for Clunkers program. This is not an income to consumers, and therefore isn't under an income tax penalties.
Is the rebate subject to being taxed as income to consumers that participate in the program?" The answer posted right there in bold capital letters states "NO." The answer goes on to explain that "The CARS Act expressly provides that the credit is not income for the consumer." This is as plain as day as an answer can be when it comes from the Government, and there isn't much there that can confuse the reader that is looking to learn more about the Cash for Clunkers program. This is not an income to consumers, and therefore isn't under an income tax penalties.
08-28-09 | 01:36 PM
#11
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Joined: May 2009
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From: GA
I found this.
Is the rebate subject to being taxed as income to consumers that participate in the program?" The answer posted right there in bold capital letters states "NO." The answer goes on to explain that "The CARS Act expressly provides that the credit is not income for the consumer." This is as plain as day as an answer can be when it comes from the Government, and there isn't much there that can confuse the reader that is looking to learn more about the Cash for Clunkers program. This is not an income to consumers, and therefore isn't under an income tax penalties.
Is the rebate subject to being taxed as income to consumers that participate in the program?" The answer posted right there in bold capital letters states "NO." The answer goes on to explain that "The CARS Act expressly provides that the credit is not income for the consumer." This is as plain as day as an answer can be when it comes from the Government, and there isn't much there that can confuse the reader that is looking to learn more about the Cash for Clunkers program. This is not an income to consumers, and therefore isn't under an income tax penalties.
However, if it's to be believed, the tax we paid if bought between the qualifying months will be a write off. I sure hope so, I bought mine straight out w/o a trade. I sold my '03 RX300 to CARMAX for a lot more money.
08-29-09 | 10:06 AM
#12
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From: FL
The original question is in the FAQ's in the CARS government website. Whether it is subject to state or local taxes is another issue. I read in some states that it does not reduce your sales tax like a normal trade in..
http://www.cars.gov/faq#category-01
Is the credit subject to being taxed as income to the consumers that participate in the program?
NO. The CARS Act expressly provides that the credit is not income for the consumer.
http://www.cars.gov/faq#category-01
Is the credit subject to being taxed as income to the consumers that participate in the program?
NO. The CARS Act expressly provides that the credit is not income for the consumer.
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