Did you know you can buy a new Subaru and avoid paying property tax on your old vehicle? The Kentucky Department of Revenue writes, “If a vehicle is transferred in any year before the property taxes on that vehicle have been paid, then within ten (10) working days after the transfer date or after the notice of transfer, a notice of tax due will be sent to the person who owned the vehicle on January 1st of the year.”1
This means that if you’re up to date on your current taxes, you can sell us your current ride before the end of the year to avoid paying 2024 property taxes for the vehicle in question. However, if you wait until the new year to sell your car, you’ll be on the hook for property taxes come the 2024 tax season. If you’re looking to get into the front seat of a new Subaru for sale, now is the time.
Federal law currently allows drivers to claim up to a $7,500 rebate when they purchase an electric vehicle. The Subaru Solterra, as of this writing, qualifies for this tax credit. If you sell us your current ride and leave our dealership in our new Subaru Solterra for sale, you can avoid property taxes on your old car and get a $7,500 credit.2
If you have questions about the Subaru Solterra tax credit or how to buy a new Subaru and avoid paying property tax on your old vehicle, we’re ready to help. You can contact us online or over the phone, or stop by our dealership in Kentucky today to learn more about vehicle taxation. The entire Quantrell Subaru team looks forward to doing business with you soon.
1According to the Kentucky Department of Revenue.
2Car shoppers in the U.S. who purchase an electric car or fuel cell electric vehicle from 2023 onward may qualify for a clean vehicle tax credit of up to $7,500 from the Internal Revenue Service. There are restrictions on who can qualify as well as what kinds of EVs are eligible for the tax credit. Visit the IRS clean vehicle credit webpage to learn more.
