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Work-around for no trade-in tax sales tax break?

chipcaldwell

Member
Join
Dec 26, 2021
Messages
6
Location
Chattanooga, TN
Vehicle(s)
Grand Touring
Since Lucid offers no trade-in like Tesla, my extra cost is $5K to buy Lucid GT vs Tesla Model X. That is, TN taxes on new car px minus trade-in $$. They get that info on the sales contract & do not allow you to deduct the old car price if you sell independent of trade-in nor self-reporting There must be a work-around. Thoughts?
 

manitou202

Well-Known Member
Join
Nov 2, 2021
Messages
139
Vehicle(s)
E-tron, Polestar 2
I face the same issue here in Colorado where my sales tax on a new vehicle is 9.03%.

However keep in mind even if Lucid were to offer trade-ins, if they aren't offering competitive prices it doesn't matter anyway. Tesla is notorious for low-balling trade-ins. So when we bought our Model X it was better to simply trade-in our car to Car Max and not get the sales tax credit, because Car Max gave us substantially more money than Tesla.

We will be selling our Audi E-tron when we pick up our Lucid GT, and our plan is to trade it in at Car Max or a local dealership.
 

Paladin732

Well-Known Member
Join
Nov 21, 2021
Messages
190
Vehicle(s)
Taycan
Look up rates from carvana, vroom, and shift.

All three often have fantastic rates.
(Note: this is coming from someone in CA where we don’t get the awesome tradein tax discount)
 
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