1. SkipCarDealer
  2. Glossary
  3. What is the sales tax on vehicle purchases in NT in Canada?
What is the sales tax on vehicle purchases in NT in Canada?
Open Your Account
Car Loan Glossary • nt

What is the sales tax on vehicle purchases in NT in Canada?

In the Northwest Territories (NT), vehicle purchases are exclusively subject to the federal Goods and Services Tax (GST). Unlike many other Canadian provinces, NT does not impose a provincial sales tax (PST), meaning buyers will typically pay only 5% GST on the vehicle's purchase price. This 5% GST applies uniformly to both new vehicles and used vehicles acquired from a GST-registered dealership. A critical distinction for Canadian consumers, however, is that used vehicles purchased directly from a private seller are generally exempt from GST. Understanding this difference is paramount for budgeting, as it can represent a substantial financial saving for individuals considering private transactions. Always verify the final applicable taxes with your seller or dealership to ensure precise budgeting, and be aware of any potential federal or territorial incentives for specific vehicle types, such as electric vehicles, which could indirectly influence your overall outlay.

References:

Related Topics: nt province taxes

Related Financial Terms

What is an auto loan APR in Canada?

The Annual Percentage Rate (APR) on an auto loan in Canada represents the true, comprehens...
What is an auto loan APR in Canada in Canada?

In Canada, the Annual Percentage Rate (APR) on an auto loan represents the true, all-inclu...
What is the Bank of Canada policy interest rate used for car loans?

The Bank of Canada's policy interest rate, also known as the overnight rate, is a pivotal...
What is the Bank of Canada policy interest rate used for car loans in Canada?

The Bank of Canada's policy interest rate, specifically the overnight rate target, which i...

Need more help?

Explore our full glossary or get in touch with our financing experts.

View Full Glossary
Search Glossary
Type a keyword and hit enter
Browse by Letter
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Popular Terms

Ready to get approved?

Skip the dealership hassle and get pre-approved for your car loan today.

Apply Now

With over 50 years of experience in the automotive industry, we know what we're doing when it comes to getting the best deals. We specialize in credit building and rebuilding, and with our expertise, we're sure to find a solution that suits you! Its our Skip Car Dealer Guarantee.

Credit Solutions

Loan Types

Programs

Partners

155-2 King Street West, Unit #107, Hamilton, ON, L8P 4S0 888-270-SKIP (7547)

PARTICIPATING LENDERS MAY VERIFY YOUR SOCIAL INSURANCE NUMBER, DRIVER'S LICENSE NUMBER, PROVINCIAL ID, OR ANY OTHER GOV IDENTIFICATIONS AND REVIEW YOUR INFORMATION AGAINST FEDERAL DATABASES TO INCLUDE BUT NOT LIMITED TO EQUIFAX, TRANSUNION, AND EXPERIAN TO DETERMINE CREDIT WORTHINESS, CREDIT STANDING AND/OR CREDIT CAPACITY. BY SUBMITTING YOUR APPLICATION AND INFORMATION ON THIS WEBSITE, YOU AGREE TO ALLOW ANY AND ALL PARTICIPATING LENDERS TO VERIFY YOUR INFORMATION AND CHECK YOUR CREDIT. SKIP CAR DEALER FOLLOWS BEST PRACTICES OF THE CANADIAN FAIR TRADING ACT OF 1999. ALL FINANCE IS SUBJECT TO EMPLOYMENT STATUS AND INCOME. APPLICANTS MUST BE 18 OR OVER, TERMS AND CONDITIONS APPLY, GUARANTEES AND INDEMNITIES MAY BE REQUIRED. WE CAN INTRODUCE YOU TO A NUMBER OF FINANCE PROVIDERS BASED ON YOUR CREDIT RATING. WRITTEN QUOTATION ON REQUEST.

This site uses cookies so that we can provide you with the best user experience. By continuing to use the site you are consenting for cookies to be used. Further information on cookies and how you can disable them is available on our cookie policy.

Copyright © 2020 Skip Car Dealer All Rights Reserved.

Terms of use | Privacy Policy

Top