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A lot of people fail to itemize their deductions. Itemizing deductions takes a lot of time and often does not result in great savings on a person's income. One new deduction that all people can take advantage of without itemizing deductions is a deduction for the sales and excise tax paid upon the purchase of new vehicles. A lot of people also do not realize how expensive a sales and excise tax can be. If you do elect to take this deduction, you will save a lot of money on the purchase of your new vehicle. This is a great opportunity for car owners.
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∙ 10y ago
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Does trading in a car affect your credit?
Trading in a car does not affect your credit unless you sign a new car loan and get a new car. This may negatively or positively effect your credit.
Does having bad credit affect your APR for a new car or home?
Bad credit will affect your APR on any new loan. Most banks use a tiered credit system to determine APR.
Where can one get car credit from?
If you are looking to purchase a new car, but do not have the money available, you can look at getting a car loan. Some people take out a car loan directly from their bank, while others use car financing offered directly from the seller. If you are not approved for a car loan, you can also check out websites such as Family Loans and Approved Car Loans. They offer credit to those who have bad credit or no credit.
Do you get tax credit on a trade for a used car?
is there a tax credit when trading in your used car when purchasing a new one
Does buy a new car help get credit?
Only if you make every payment on time. If you mean paying cash for as new car, no that does not improve your credit score
What auto loan sources that will finance 144 months on a new car?
The best answer for this question is to use your line of credit to buy this vehicle if it is for personal use.
What is the journal entry for car trade in?
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
Who gets the credit when you have a cosigner on a new car?
Both
Would having good credit help in getting a great new car deal?
Yes, obtaining a deal on a new car is impacted by having good credit. Getting a bargain on a new car depends in part in many cases on obtaining excellent financing. Having good credit lowers the interest rate for new car purchases.
Can you use a credit card to purchase a car?
Yes, if the company accepts credit cards.
If your car was totaled and the insurance company paid you for it do you get a credit for that on sales tax on your new car?
NO.
What is a good method for establishing credit?
buying a new car
