X-Plan on New Mustang

[Seabee1973]

Lol up to $200

Ooooooohhhhhj

Sent from my XT1053 using Tapatalk

You can claim state sales taxes too, on an average it's around 800 depending on your income and the set spending average they have placed

Sent from my SGH-M919 using Tapatalk

Sponsored

 

[GiddyUp15]

You can claim state sales taxes too, on an average it's around 800 depending on your income and the set spending average they have placed

Sent from my SGH-M919 using Tapatalk

Really? Is this some new incentive to get people to buy new cars? That's good...I always thought with the sales taxes and how most states ream you on plates for new cars it does a poor job enticing people to buy new

 

[ShoNuff]

Really? Is this some new incentive to get people to buy new cars? That's good...I always thought with the sales taxes and how most states ream you on plates for new cars it does a poor job enticing people to buy new

I've only been able to find this:

"The American Recovery and Reinvestment Act permits taxpayers to take a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles. The deduction is available on new vehicles purchased from Feb. 17, 2009, through Dec. 31, 2009."

Not sure if they implemented it again recently - but I'm not finding it on the IRS webpage.

 

[GiddyUp15]

I've only been able to find this:

"The American Recovery and Reinvestment Act permits taxpayers to take a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles. The deduction is available on new vehicles purchased from Feb. 17, 2009, through Dec. 31, 2009."

Not sure if they implemented it again recently - but I'm not finding it on the IRS webpage.

Yeah that sounds right...that's when they were doing the "cash for clunkers" incentives too

 

[HalfMoon]

Relax y'all, under the new taxes, buying a new car, you can claim it and get some money back doing so... How much? I don't know

Sent from my SGH-M919 using Tapatalk

The sales tax deduction expired with tax year 2013. There is a possibility of it being extended again for 2014 and beyond, but nothing is done yet.

The way it worked was that you had itemize (no short form) and had to pay more in sales tax than your deduction for state income tax.

I did this in 2011 which was a big spending year for me. I bought 4 cars and paid just over $14k in sales taxes on them alone. Adding up all the other items we bought for the house including beds and appliances and electronics, then guns and toys and it was a pretty hefty deduction.

http://www.irs.gov/Individuals/Sales-Tax-Deduction-Calculator

If you file a Form 1040, and itemize deductions on Schedule A, you have the option of claiming either state and local income taxes or state and local sales taxes. (You can’t claim both.) If you saved your receipts throughout the year, you can add up the total amount of sales taxes you actually paid and claim that amount.

 

[Seabee1973]

The sales tax deduction expired with tax year 2013. There is a possibility of it being extended again for 2014 and beyond, but nothing is done yet.

The way it worked was that you had itemize (no short form) and had to pay more in sales tax than your deduction for state income tax.

I did this in 2011 which was a big spending year for me. I bought 4 cars and paid just over $14k in sales taxes on them alone. Adding up all the other items we bought for the house including beds and appliances and electronics, then guns and toys and it was a pretty hefty deduction.

http://www.irs.gov/Individuals/Sales-Tax-Deduction-Calculator

It was great, hopefully again this year... guess we have to see... owning a house helps too crossing my fingers... all the stuff I did for work was claimed and military driving as well... hopefully I get some back as I am tapping the 401k for down payment... retired from military now so I am poo retty set even if it's another 17 years to pay out lol

Sent from my SGH-M919 using Tapatalk

 

[STangfan44]

I am ashamed to still be confused, but even after reading the ford site and posts in this thread, I am still a confused as to what exactly I'd be charged and what for xplan.

Question 1: The administrative fee has a cap of $275, but is this administration fee a charge for being an x-plan purchase, or is this referring to the usual administration fee where dealers try to hammer you with charges from $499 to whatever? In other words, could the dealer try to hit me with 275 and then whatever bogus admin or whatever else they name it thing?

Question 2: I also see that dealers can charge up to $100 document fee. Does this cover the tags, tag, and title thing, or could they hammer you with another charge for that?

Question 3: The fuel and advertising charge. I understand where someone said we don't see this broken down when regularly trying to buy a car because it's just part of the price they quote us, but are those 2 fees added on to the xplan and other acceptable fees?

Edit: found another thread with someone's screenshot. Looks like these two are added.. make sure they give you that full tank of gas!

Would this be a proper example of a price then?

Gt premium 33,302 inv (36,100 MSRP)
triple yellow 353 inv (395 MSRP)
mats 85 (95 MSRP)
3.55 limited slip 353 inv (395 MSRP)

Invoice total: $34093 MSRP total: $36985

Dealer Invoice - (0.004% * Dealer Invoice) + Administration Fee
34093 - (0.004% * 34093) + 275
34093 - (136.37) + 275
subtotal: 34231.63
34231.63 + 57.60 + 592 (my guess at adv fee based on it being 1.64%)
total: 34881.37 (ouch still a lot)

 

[GiddyUp15]

I am ashamed to still be confused, but even after reading the ford site and posts in this thread, I am still a confused as to what exactly I'd be charged and what for xplan.

Question 1: The administrative fee has a cap of $275, but is this administration fee a charge for being an x-plan purchase, or is this referring to the usual administration fee where dealers try to hammer you with charges from $499 to whatever? In other words, could the dealer try to hit me with 275 and then whatever bogus admin or whatever else they name it thing?

Question 2: I also see that dealers can charge up to $100 document fee. Does this cover the tags, tag, and title thing, or could they hammer you with another charge for that?

Question 3: The fuel and advertising charge. I understand where someone said we don't see this broken down when regularly trying to buy a car because it's just part of the price they quote us, but are those 2 fees added on to the xplan and other acceptable fees?

Edit: found another thread with someone's screenshot. Looks like these two are added.. make sure they give you that full tank of gas!

Would this be a proper example of a price then?

Gt premium 33,302 inv (36,100 MSRP)
triple yellow 353 inv (395 MSRP)
mats 85 (95 MSRP)
3.55 limited slip 353 inv (395 MSRP)

Invoice total: $34093 MSRP total: $36985

Dealer Invoice - (0.004% * Dealer Invoice) + Administration Fee
34093 - (0.004% * 34093) + 275
34093 - (136.37) + 275
subtotal: 34231.63
34231.63 + 57.60 + 592 (my guess at adv fee based on it being 1.64%)
total: 34881.37 (ouch still a lot)

That's okay, this is all very confusing and hard to grasp. Check out the Google Spreadsheet on the prices thread. Basically, the Adv fee and fuel charge are part of the final invoice, so you want to add those into JUST the invoice before you calculate X-plan price. The $275 fee is part of the X-plan calculation so the dealer cannot mess with that. The document fee that they can charge up to $100 for is just to cover their cost of doing the documentation, and doesn't include title fees and what not since that varies by state/county etc. For instance, they'll charge you the same thing the DMV would if you bought the car from a private sale, usually. Check with your DMVs rules as to what they make the dealers charge you, as they could try and hammer you with extra processing fees or something. :-)


Edit: looking at your numbers, to calculate ADV, you use the invoice price before adding in the adv and fuel charge, so 1.64% of $34,093 = $559. Total invoice with adv and fuel charge will then be $34,710. Then doing the formula for X-plan puts it at $34,846. That'll be your purchase price. Add in sales tax, any title fees as mentioned above, plus up to $100 document fee the dealer can charge. I think that'll cover everything as long as you don't fall for the dealer installed accessories or warranty plans :-)

Sent from my iPhone using Tapatalk

 

[Free Agent]

That's okay, this is all very confusing and hard to grasp. Check out the Google Spreadsheet on the prices thread. Basically, the Adv fee and fuel charge are part of the final invoice, so you want to add those into JUST the invoice before you calculate X-plan price. The $275 fee is part of the X-plan calculation so the dealer cannot mess with that. The document fee that they can charge up to $100 for is just to cover their cost of doing the documentation, and doesn't include title fees and what not since that varies by state/county etc. For instance, they'll charge you the same thing the DMV would if you bought the car from a private sale, usually. Check with your DMVs rules as to what they make the dealers charge you, as they could try and hammer you with extra processing fees or something. :-)


Edit: looking at your numbers, to calculate ADV, you use the invoice price before adding in the adv and fuel charge, so 1.64% of $34,093 = $559. Total invoice with adv and fuel charge will then be $34,710. Then doing the formula for X-plan puts it at $34,846. That'll be your purchase price. Add in sales tax, any title fees as mentioned above, plus up to $100 document fee the dealer can charge. I think that'll cover everything as long as you don't fall for the dealer installed accessories or warranty plans :-)

Sent from my iPhone using Tapatalk

Good information. The doc fee is capped at $100 as you say but I would think it is negotiable as it is separate from x-plan. I've never understood why a dealer thinks they need a documentation fee for paperwork, its their job.

 

[STangfan44]

. I've never understood why a dealer thinks they need a documentation fee for paperwork, its their job.

yeah, reminds me of the administrative fee the city tacks onto my property tax bill. They charge me for the fact that they've decided to send me a bill.

 

[Free Agent]

yeah, reminds me of the administrative fee the city tacks onto my property tax bill. They charge me for the fact that they've decided to send me a bill.

Maybe when we write a check we should always take 3% off the total and tell whomever we are purchasing something with the check that it is our personal documentation fee. (You know for 5 seconds of writing, hard on the fingers) ;)

 

[dkf]

Longtime lurker, first time poster here. Some great information and interesting discussion going on here so thanks to everyone for that!

I've just got a question about the formula for calculating x-plan in Canada. I get x-plan through my work but the formula given on the Canadian site is a-plan x 0.04 and the site states dealers cannot charge a document fee. Does anyone know how a-plan is calculated and if the formula for that differs from the US formula?

 

[NOLA_Stang]

Longtime lurker, first time poster here. Some great information and interesting discussion going on here so thanks to everyone for that!

I've just got a question about the formula for calculating x-plan in Canada. I get x-plan through my work but the formula given on the Canadian site is a-plan x 0.04 and the site states dealers cannot charge a document fee. Does anyone know how a-plan is calculated and if the formula for that differs from the US formula?

The easiest way is to walk into, or email a dealer and ask a price for exactly what you are looking to buy at the x-plan price. It's easy to deal with them if you have access to x or a plan because they have nothing to gain from haggling.

 

[dkf]

The easiest way is to walk into, or email a dealer and ask a price for exactly what you are looking to buy at the x-plan price. It's easy to deal with them if you have access to x or a plan because they have nothing to gain from haggling.

I'm still working out what options and packages I'd be interested in so I was hoping I could figure out the Canadian X-plan pricing formula myself. I'm also not planning to buy until the new year at the earliest so I'm more window shopping at this point than anything.

 

[Dirdle65]

I'm trying to save money wherever I can...I just found out that plates for the first year for my new Mustang will be over $1000! :frusty:

Here's what I'm looking at for registering my new Mustang next year (from the NM MVD site):

"The registration fee for passenger vehicles is based on the weight and model year of the vehicle. Registration fees range from $27.00 to $62.00 for a one (1) year registration or $54.00 to $124.00 for a two (2) year registration."

I guess I'll be shelling out $124. I so don't miss the 40 years I lived in Colo Spgs! Although it is really pretty and I do miss that plus the mountains. Just not the cost.

Sponsored