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Sunday, October 11, 2009

Do you pay sales tax when refinancing an auto loan?

I was wondering if when refiancing a car if you pay sales tax....again? And If i'm refinancing a loan, and taking over my parents loan and my name is not on the loan if I will have to pay sales tax.

Do you pay sales tax when refinancing an auto loan?
There is a law in Florida that they are now enforcing that says you do have to pay tax on a refinance if you are changing the title (adding or removing an owner).





But it's just Florida. If you don't live there, you're good.
Reply:No. The car would be taxed, if re-sold. Not the money borrowed to re-finance it.


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