DrwMDvs
Senior Member
- Joined
- Feb 26, 2016
- Threads
- 10
- Messages
- 368
- Reaction score
- 331
- Location
- NE
- Vehicle(s)
- 2017 WOP Civic Si Sedan, 2000 Honda Civic
- Thread starter
- #1
Hello all. First time buying a new car and am trying to figure all the numbers out before I get in the negotiating ring. Anyone willing to take a look and see if I'm forgetting something?
I'll break it down for you here:
State: Nebraska (Sales Tax: 5.5%)
City: Lincoln (Sales Tax: 1.75%)
TAX AND LICENSING
MSRP: $23,900
Delivery: $875
Purchase Price (in theory): $24,775
Base Tax(based on NE #s): $340.00
Total Fees: $121.10
Motor Vehicle Fee(?): $20.00
Plate Fee: $3.30 (x2) = $6.60
Wheel Tax: $74
Registration Fee: $20.50
Emergency Medical System Fund: $0.50
Motor Vehicle Cash Fund: $2.00
State Recreation Road Fund: $1.50
County General Fund: $1.50
Nebraska Sales Tax: $1,362.62 (5.5% of purchase price)
Lincoln Sales Tax: $433.56 (1.75% of purchase price)
Total Sales Tax: $1,796.18
TOTAL FEES and TAXES: $2,257.29
TOTAL OUT THE DOOR: $27,032.29 ($24,775 + $2,257.29)
------------------------------------------------
Financing Scenarios
With Tax and Fees included in financing:
Finance Amount(?):$22,032.29 (after $5k down payment)
Percentage Rate: 1.9%(?)
Interest: $418.61
Total Price: $22,450.90
Per Month Amount:
(60) - $374.18
(66) - $340.17
(72) - $311.82
with Tax and Fees paid out-of-pocket:
Finance Amount(?):$19,775 (after $5k down payment)
Percentage Rate: 1.9%(?)
Interest: $375.73
Total Price: $20,150.73
Per Month Amount:
(60) - $335.85
(66) - $305.31
(72) - $279.87
Am I right? I'm probably a little bit crazy. I definitely feel like I'm forgetting something, like a dealer fee. If I buy the car in a different county, then I should be charged the different sales tax rate for that other county (1.5% instead of 1.75%), right?
EDIT: BIG thanks to @bhorn for showing me the light. Here are the updated figures:
Tax and Fees included in financing:
Finance Amount:$22,033 (after $5k down payment)
Total Interest:$1,081 (60) or $1,297 (72)
Percentage: 1.9%(?)
Percentage per month: 0.158%
Per Month Amount:
(60) - $385
(72) - $324
Tax and Fees paid out-of-pocket:
Finance Amount:$19,775 (after $5k down payment)
Total Interest: $970 (60) or $1,164 (72)
Percentage: 1.9%(?)
Percentage per month: 0.158%
Per Month Amount:
(60) - $346
(72) - $291
I'll break it down for you here:
State: Nebraska (Sales Tax: 5.5%)
City: Lincoln (Sales Tax: 1.75%)
TAX AND LICENSING
MSRP: $23,900
Delivery: $875
Purchase Price (in theory): $24,775
Base Tax(based on NE #s): $340.00
Total Fees: $121.10
Motor Vehicle Fee(?): $20.00
Plate Fee: $3.30 (x2) = $6.60
Wheel Tax: $74
Registration Fee: $20.50
Emergency Medical System Fund: $0.50
Motor Vehicle Cash Fund: $2.00
State Recreation Road Fund: $1.50
County General Fund: $1.50
Nebraska Sales Tax: $1,362.62 (5.5% of purchase price)
Lincoln Sales Tax: $433.56 (1.75% of purchase price)
Total Sales Tax: $1,796.18
TOTAL FEES and TAXES: $2,257.29
TOTAL OUT THE DOOR: $27,032.29 ($24,775 + $2,257.29)
------------------------------------------------
Financing Scenarios
With Tax and Fees included in financing:
Finance Amount(?):$22,032.29 (after $5k down payment)
Percentage Rate: 1.9%(?)
Interest: $418.61
Total Price: $22,450.90
Per Month Amount:
(60) - $374.18
(66) - $340.17
(72) - $311.82
with Tax and Fees paid out-of-pocket:
Finance Amount(?):$19,775 (after $5k down payment)
Percentage Rate: 1.9%(?)
Interest: $375.73
Total Price: $20,150.73
Per Month Amount:
(60) - $335.85
(66) - $305.31
(72) - $279.87
Am I right? I'm probably a little bit crazy. I definitely feel like I'm forgetting something, like a dealer fee. If I buy the car in a different county, then I should be charged the different sales tax rate for that other county (1.5% instead of 1.75%), right?
EDIT: BIG thanks to @bhorn for showing me the light. Here are the updated figures:
Tax and Fees included in financing:
Finance Amount:$22,033 (after $5k down payment)
Total Interest:$1,081 (60) or $1,297 (72)
Percentage: 1.9%(?)
Percentage per month: 0.158%
Per Month Amount:
(60) - $385
(72) - $324
Tax and Fees paid out-of-pocket:
Finance Amount:$19,775 (after $5k down payment)
Total Interest: $970 (60) or $1,164 (72)
Percentage: 1.9%(?)
Percentage per month: 0.158%
Per Month Amount:
(60) - $346
(72) - $291
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