So I refinanced my car, and had a co-signer originally, well when I got approved for refinance, they didnt put him on which was ok with me, cause the only reason he was on there is cause he was my friend that worked at ford and to get the family plan we said he was my brother in law, so when the chance came to get him off the car loan, that was good.


Well now the bank calls me and says they have bad news and I need to pay 1300 in sales tax cause I dropped him off the loan. Anything I can do?

 

Huh? You already paid sales tax when you bought the car new didn't you? How could you possibly have to pay again?

 

you shouldnt have to pay tax again

 

It shouldn't matter if you dropped him or not. You already paid the tax when you bought the car originally.

 

Something is not right....we dont pay double sales tax on anything. The dealer charged you a sales tax because there was an exchange of goods...their goods (car) for your money...

The bank has no business collecting sales tax again...

 

Thats what I thought. She told me its cause I dropped him and its like a whole new loan. I really dont get it.She said its the dmv thing or whatever, and I should go to the state board of equalization or whatever and tell them I already paid taxes on the car.

She said Im only exempt if they are family member or related? Even If I was to pay off the loan and want him off it I would have to pay tax again.

 

Hell..weird, just weird. Yes, absolutely, go to the county/state tax office. Lets us know how it turns out.

 

I think what she trying to tell me is, that since I dropped him they are counting it as a sales, like if he sold it to me. So I would have to pay again.[:@]

I guess I will have to find out next week.

 

Just another way of the government screwing us....

 

Yeah the government likes to takes us from both ends.....[:@]. I still think it is bull considering you are not paying off the loan just refiancing to get his name off?....right?