dcmdon
Well-Known Member
- First Name
- Don
- Joined
- Mar 31, 2021
- Threads
- 60
- Messages
- 3,654
- Reaction score
- 4,388
- Location
- Boston Metro-West, Northern NH
- Vehicle(s)
- .
I've never thought about this (and I was a finance manager at a car dealer for a couple of years a long time ago), what happens if your trade is worth more than the car you are buying.Exactly. In Illinois (and I’ve double checked this), you get the full tax benefit if you trade a truck for a truck. So, I’d be on the plus side with this trade because I’d be going through I dealer.
Do you get the tax benefit on the whole value of the trade. In effecti getting a tax refund?
Sponsored