Tax Credit for Trade-Ins | Gene Butman Ford

Effective Dec.15th the State of Michigan will provide consumers with a sales tax reduction of six percent of the agreed-upon value of a motor vehicle used as a trade-in on a new or used motor vehicle subject to the following limitations. The trade-in is limited to the lesser of the agreed-upon value of the motor vehicle traded or $2000. The agreed-upon value must be explicitly stated on the invoice, bill of sale, or similar documentation given to the purchaser. The sales tax exemption will increase $500 per year beginning Jan. 1, 2015, until the amount reaches $14,000 in 24 years. Beginning in 2039 there will be no limitation on the trade-in value. Please call our sales department at (888) 370-1052 if you have any questions or would like to take advantage of this fantastic program.