|
|
(EMAILWIRE.COM, January 10, 2012 ) Asheville, NC -- Some used-car dealers in the Razorback State are saying that the new state law that raised the used-car sales-tax exemption did not raise the exemption high enough to truly help those it was intended to help.
The law that went into effect on January 1, 2012 exempts vehicles that sell for less than $4,000 from sales tax, an increase of the previous limit by $1,500. However, many are arguing that this limit is still way too low to help low-income families. Tommy Gibson, owner of The Car Connection in Little Rock, said, “It’s too little, too late, get on Craigslist and try to find you a decent car for $4,000. Used vehicles are at an all-time high, so (the increased tax exemption limit) is not relative to the market.”
There was a time when sales taxes were not paid on used car sales in Arkansas. It was only in 1991, when then-Governor Bill Clinton signed legislation bringing sales tax to the sales of used cars costing more than $2,000. Speaking about this original exception, Gibson said that a car that $2,000 could buy in 1991 would today be a vehicle worth from $8,000 to $9,000.
Some in the auto-sales industry are saying that the $4,000 sales tax exception could prove useful if it were not increased, but rather expanded to cover more vehicles. Rocky Campbell, owner of Campbell Auto Sales in Melbourne, wants the exception to be applied to the first $4,000 of the sale of any used car, so that not only those purchasing the cheapest of vehicles benefit.
About Buy Here N Pay Here:
Many consumers these days are turning to buy here pay here dealerships in order to finance the used vehicle they need. Buy Here N Pay here matches consumers with buy here pay here car lots in Arkansas that can finance their credit.
Buy Here 'N Pay Here
PR Dept
9102086761
contact@buyherenpayhere.com 
Source: EmailWire.com
|
