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Is new car sales tax the same rate as regular sales tax?
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It can be, but it depends on where you live.
Many states charge the same percentage tax rate for a new car as you would pay for a sweater purchased at a local store. But, some states throw in surcharges or excise taxes on new car purchases in addition to the customary sales tax. And, of course, don't confuse state sales tax with the myriad of dealer fees most car dealers impose.
It's important to account for your new car sales tax before committing to your purchase. Some states carry high sales taxes, and if you live in one of these states, a car that was borderline affordable before taxes could be pushed into the budget-breaker category once you calculate this extra fee.
Many states charge the same percentage tax rate for a new car as you would pay for a sweater purchased at a local store. But, some states throw in surcharges or excise taxes on new car purchases in addition to the customary sales tax. And, of course, don't confuse state sales tax with the myriad of dealer fees most car dealers impose.
It's important to account for your new car sales tax before committing to your purchase. Some states carry high sales taxes, and if you live in one of these states, a car that was borderline affordable before taxes could be pushed into the budget-breaker category once you calculate this extra fee.
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