Can someone help answer a few questions. I purchased a 2011 Cascadia from Georgia but went the leased option with the finance company for write off purposes. I’m getting close to the end of the term, and the finance guy says that my “payoff” doesn’t include applicable sales and property tax. I now live in Colorado. Does anybody have any clue about this and what I should expect? It’s my first truck purchase. I don’t want to be surprised owing another 10k to own the truck. I purchased for $55k.
Thanks.
Sales & Property Tax
Discussion in 'Trucker Taxes and Truck Financing' started by retardo, Sep 26, 2019.
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Doesn't your contract says what the buyout is?
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I specifically asked sales and property tax. I know what my buyout is.
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That’s what I’m thinking is I pay my buyout and I’m done. Perhaps he’s just got to throw the disclaimer in there when quoting it. Here’s the email I received. I’m paying my truck off earlier than the original term, so that’s what he’s quoting me.
5 month term to $XXXX purchase option. Monthly payment $XXXX.XX. These terms do not include any applicable sales or personal property tax. -
Georgia charges property tax to owner operators...GA registration costs a lot less until you add the additional tax back in...
Check with the CO motor truck assn regarding your possible state taxes.
Class 8 trucks are tax exempt in a lot of states, parts toostillwurkin Thanks this.
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