Help me calculate... $25,000 truck at 4.5 APR plus fees

[siccrydas]

I live in Arizona and got Approved thru Cap1 at 4.5 Apr. I found a few trucks I like at $ 25,000.

My question is.. How much in fee's and sales tax can I expect to add to that 25,000. Excluding interest

[ojefferyo]

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@siccrydas wrote:
I live in Arizona and got Approved thru Cap1 at 4.5 Apr. I found a few trucks I like at $ 25,000.

My question is.. How much in fee's and sales tax can I expect to add to that 25,000. Excluding interest

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Tax is pretty much straight forward, take your tax rate and multipy it by 25k, fees vary depending on the place you buy the vehicle from

[cartwrna]

Not many fees. You'll have TTL, possibly an administrative charge and a lien filing fee. My lien filing fee in Iowa was $10and my administrative charge was close to $200. I've bought 3 cars since 2013 (1 used and 2 new) the fees added to the car ran from $1000-1800. The cars were 14.5k, 23k, and 34k. Hope this helps somewhat.

[siccrydas]

It does thank u, I just don't want to get screwed in any way by the dealership.

[cartwrna]

They can't add any "fees" legally without telling you. They will give you the contract to look over, or ask to see it before sealing the deal. It will list price of car less any rebates and down payments, as well as every fee that is added. Don't fall for there warranties they try selling. I just looked over my stuff and for GAP on my 32k Charger I was charged $695, for GAP on my 10k cheaper Avenger I was charged $795! The bank that I finance through has it for $295 flat rate 😂. They also sold me a warranty for 50k/5 years and charged me $1595 + tax. Needless to say I just called yesterday and cancelled all that crap and get a nice check in the mail. They make a HUGE profit off of that stuff. The Charged alone they added close to 3k in extras and I just agreed :-/ You don't need that stuff, well maybe GAP but you can shop around for it at a lower rate. The only issue is you'll have to pay out of pocket since it won't be figured into the loan. Good luck!

[jim44]

Arizona charges 5.6% sales tax. If you have a trade and AZ allows for trade credit, your sales tax rate will be lower. Tag and Title fees vary by state as do local taxes. I believe AZ charges VLT.  If the state DOR is like Florida, the dealer can not make a profit off tag and title fees, if you over pay they are required by law to refund. Dealer fees vary of course from dealer to dealer. Some states charge battery and tire disposal fees. You will pay DOC stamps on your loan. GAP is not mandatory and if your down payment is large enough to provide equity in the truck you purchase, you won't need it. As far as extended warranties it is good to shop around. If you do elect an EW or GAP and later cancel either or both polices you will receive a refund. Congrats on being approved!

[siccrydas]

This is all great information. I do have 2 cars I just currently put up for sale and I was gonna use that money for down payment. 06 Chevy cobalt and 07 dodge caliber. I want 4k each BUT since you said I can get a lower sales tax rate with trade ins I'm wondering if trading them in would be a good idea. Any advice

[jim44]

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@siccrydas wrote:
This is all great information. I do have 2 cars I just currently put up for sale and I was gonna use that money for down payment. 06 Chevy cobalt and 07 dodge caliber. I want 4k each BUT since you said I can get a lower sales tax rate with trade ins I'm wondering if trading them in would be a good idea. Any advice

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From what I've read online and through the AZ DOT website, AZ allows for sales tax credit on trades. Check with the AZ DOT and the dealer you want to buy the truck from. You probably would get more money if you sold your vehicles on your own vs the trade credit the dealer would give you. Also if traded you would save the hassle of selling them on your own.. maybe a pro and con list?  Again congrats on the truck!