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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3023
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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Robin, my question is this? The estimate saving 2930,

Customer Question

Hello Robin, my question is this? The estimate saving 2930, truceCar estimate saving 17,985, msrp show 20735, the discount 3050, incentive 1500, tax & title fee 259, cvr 20.00 not taxable, process fee 300, sale tax amount to 1079.10. All this amount to 16185 out the door. Financed 13843.10. This is how the dealer added everything up, out the door price 16185 + incentive 1500 + process fee 300 = 17985 x 0.6 = 1079.10 = 19064.10 + tag/title fee 259= 19323.10 + cvr 20.00 = 19343.10
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
the cvr they said was free but as you can see it added up to the final total 19343.10. Now the catch is this they gave me back the incentive 1500 plus 4000 down payment = to 5500. the bank financed 13843.10. I never had a dealer worked the number backward like this was it legit and what about the 3050 discount, the 2930 estimated saving plus the trueCar estimate saving 17,985, it just don't seem to add up? can you explain and put this in order. feels like I was taken!
Expert:  Barbara replied 1 year ago.
Welcome to Just Answer. My name is ***** ***** I will be happy to assist you today.Based on the information contained in your question, the calculation is correct and is done as follows:MSRP $20,735MINUS THE FOLLOWING:Discount $3,050Incentive $1,500Down payment $4,000PLUS THE FOLLOWING:Tax and title fee $259CVR $20Processing Fee $300Sales Tax $1,079.10Leaves a balance of $13,843.10 which is the amount financed.Please let me know if I can assist you further.Thank you and best regards,Barb
Expert:  Barbara replied 1 year ago.
Just following up with you to see if you have any other questions. If so, please come back to me here at your convenience, and I will assist you further.
If not, please take a moment to rate my answer since that is the only way I receive credit for answering you and alerts Just Answer to compensate me.
Best regards,
Barb