Sales tax on new vehicle purchase

Just moved to Colorado and trading in my F250 for a Tundra. I put my name on a Tundra being built and assigned to the dealership. In the deposit contract they provided me, the dealership gave me less for my trade-in but also is not charging me sales tax. That gives me the price I wanted for my trade-in.

Since this is the first time buying a new vehicle in CO, if my final sales contract does not show that I paid Sales Tax, will i be charged sales tax when registering my new vehicle at the DMV in 60 days?

I do have a CO drivers license now but didn't at the time I put my deposit down. I did tell the sales person were moved here and are residents but didn't have my CO DL at that time.

Appreciate any feedback on this transaction.

 

I thought you pay the Tax on the difference between the trade in value and the purchase price.

New price - trade in value = price to be taxed

 

Thank you for the replies... i did find out and confirm

1) DMV registration is done about 60 days after delivery. Can't seem to find an online calculator to estimate these fees.
2) Sales tax = New price minus trade-in value... since F250 trade-in value is more than new Tundra, that is how i'm not paying sales tax on the purchase.

Whew... why can't all new vehicle purchases be the same process in all 50 states??!! lol

and why can't Dealerships be open on Sundays?? that is a new one for me.

 

Wait, so they offered you more for the F250 than the new Tundra? Do you get a check for the balance of it?

 

Yup... my 2021 F250 Lariat Diesel with 21k miles is worth more than the 2022 Tundra Platinum plus a few accessories. The Toyota dealer i'm buying from did not mark-up the tundra. just have to wait for it to be built and delivered. It should be here between 22nd and 27th. Fingers crossed.

Crazy times on values of used vehicles.

Yes the dealership will give me a check for the balance plus my deposit back.

 

My wife hurt her knee so we sold the trailer. F250 diesel is glorious and i LOVE it especially all the power and higher mpg than my previous F150. But the roads in CO are horrible and the F250 beats me up as my daily driver. I thought so california roads were bad... lol So no need for the HD truck at this time.

We were going to go back to an F150 but Ford dealerships are stupid with their lack of inventory and ADM. They won't budge on ADM even when ordering... so i am going back to Toyota.

 

That is, if they ever pickup. EVER.

 

In Texas they can't be open on Saturday and Sunday. They have to pick one day. I have never had to go to DMV when buying from a dealership. I paid the dealer for registration and they handled it and called when tags came in.

 

Yup, I bought my jeep from an online salvage auction from a CO lot, and didn't realize I didn't get charged tax on it till registering it at the DMV, at which point they made me pay it before I could register