New member, New Terrain. - TerrainForum.net: GMC Terrain Forum
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post #1 of 7 (permalink) Old 10-06-2019, 05:32 PM Thread Starter
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New member, New Terrain.

Snagged up a 2020 Terrain yesterday. Traded my 2017 Malibu in for it. With Illinoisí new trade in tax taking effect in January and the fact that my local dealer had a SLE2 marked down to $24,835 by mistake(supposed be 26,500 or so); I took advantage of that pricing.

So far Iím really enjoying it!

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post #2 of 7 (permalink) Old 10-07-2019, 03:01 AM
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Trade-in tax?

Tom

2019 Terrain SLT FWD - 1.6L Turbodiesel - Smokey Quartz Metallic / Black Leather - Sunroof - Driver Alert I-II & Infotainment II
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post #3 of 7 (permalink) Old 10-07-2019, 07:38 AM
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Wow, glad we moved down to SC. Not only is our tax $500 (up from $300) but our gas tax is fairly low too.
Googled the trade in tax, any trade in over $10,000 is taxed, could hurt buyers who trade in every few years. Donít know how it would affect lease returns.
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post #4 of 7 (permalink) Old 10-07-2019, 08:50 AM Thread Starter
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Quote:
Originally Posted by scbearsfan View Post
Wow, glad we moved down to SC. Not only is our tax $500 (up from $300) but our gas tax is fairly low too.

Googled the trade in tax, any trade in over $10,000 is taxed, could hurt buyers who trade in every few years. Donít know how it would affect lease returns.


Yea. Itís a pretty raw deal, but thatís what happens when the population votes in a crooked Democrat. Itís gonna jack up the car markets Iím sure.

Oddly enough, the gas tax hasnít really affected gas prices in my area. So, clearly they were selling gas at a higher price than was necessary.

Also not sure how it affects lease returns.
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post #5 of 7 (permalink) Old 10-07-2019, 09:15 AM
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Quote:
Originally Posted by DirtyAndy View Post
Quote:
Originally Posted by scbearsfan View Post
Wow, glad we moved down to SC. Not only is our tax $500 (up from $300) but our gas tax is fairly low too.

Googled the trade in tax, any trade in over $10,000 is taxed, could hurt buyers who trade in every few years. Don’t know how it would affect lease returns.


Yea. It’s a pretty raw deal, but that’s what happens when the population votes in a crooked Democrat. It’s gonna jack up the car markets I’m sure.

Oddly enough, the gas tax hasn’t really affected gas prices in my area. So, clearly they were selling gas at a higher price than was necessary.

Also not sure how it affects lease returns.
There are two Republican bills - filed in September to repeal the new trade-in tax before it takes effect, but that might just be grandstanding.
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post #6 of 7 (permalink) Old 10-09-2019, 09:40 AM
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Trade-in tax! Are you serious!? This is almost as bad as the death tax! And I thought we in Quebec are the masters of taxation. Quick delete your post before someone from my provincial government buys a Terrain or Equinox, joins this forum and sees this. :-)
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post #7 of 7 (permalink) Old 10-09-2019, 01:29 PM
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Wonder how it affects you if you buy it in a neighboring state. I know you would still have to pay Illinois sales tax but I bet they could hide the trade in from Illinois somehow when you go get your plates.
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