I am thinking of buying a 2010 Honda Accord and paying cash for it, my question is do I have to pay luxury tax come tax time for the car, I live in NJ? Anyone help out?
You will probably get such a big discount by paying cash, you might not hit the luxury tax boundries.
Don't let the salesman know you are paying cash till you have settled on the price.
Salesmen make their profits from selling you loans and warranties.
Let them know they will make money from you there, and get your low price!!!!
Congrats - on reaching a goal that few even care to try.
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You will probably get such a big discount by paying cash, you might not hit the luxury tax boundries.
Don't let the salesman know you are paying cash till you have settled on the price.
Salesmen make their profits from selling you loans and warranties.
Let them know they will make money from you there, and get your low price!!!!
Congrats - on reaching a goal that few even care to try.
/
There isn't a luxury tax anymore. That went out years ago.
When the luxury tax existed, it was on more expensive cars, not a Honda. Plus, the tax was paid at the time of sale and your method of payment didn't change anything.
