trading car??

S

sevenways

Spectator
hey guys are always sellin and tradin there cars. but when u do what is it you right on the title. gift? or do you say you sold it? then come taxes. if u have done this before your help would be appreciated.
 
i have always written gift when i buy or sell a car, because that always seems to come out cheaper taxes-wise
 
and becuase of this is the reason they jacked up the prices now...to register a car and get a tag for it is like almost 350-400 bucks. before taxes...
 
Be careful bros.
If the price is too cheap they'll investigate and charge you taxes on what fair market value is.
 
To Alex. Your agreeing with me. It was sarcasm. My point was the price was increased because of the government being in debt.

To Ralph. Really? Yes really. That was the reason for the price increase. You can't honestly think that your plate and registration isn't controlled by the government....its the dmv, court system,and tax tag title agencies....all of which is controlled by the government......

You put 100 and not gift so they don't audit you. It's enough of a reason to go back through your taxes for 7 years.
It's $6....
 
If you trade cars with someone you don't pay sales tax. But always have to pay the title transfer fees.
 
crayZwhiteboy said:
To Ralph. Really? Yes really. That was the reason for the price increase. You can't honestly think that your plate and registration isn't controlled by the government....its the dmv, court system,and tax tag title agencies....all of which is controlled by the government......

.
Click to expand...

you obvoiusly didnt sense the sarcasm...


i know very well its controlled by the government....

but its not our debt that drove up the prices..this country has been in debt all its life.

and just recently it went up for the first time in many years..

the reason the prices when up is because when you do "this"...its technically fraud...because you are obviously giving false information to pay less...which in turn affects the system and is considered at the end of the day as fraud....

they raised the prices to minimize such fraud. and its a very good way because at the end of the day we all get shafted...its something you need and is only given by one provider...the government.
 
Sorry. Another reason computers need a sarcasm detector.

But if I can correct you on one more thing.
This country hasn't been in debt its whole life. The last time we were positive was Clintons term which wasn't that long ago. It was even his second year and we went up.

Taking American government in college now so I just did a whole chapter on this.

But for real guys. Atleast put $100. You will only pay $6 more. Could save you later.
 
Bearcat said:
Be careful bros.
If the price is too cheap they'll investigate and charge you taxes on what fair market value is.
Click to expand...



my first wrx i bought i payed 1100 for it drove it home and tag/titled it later no problem (i owned my first wrx in 05) they sent a letter 1.6 yrs later saying i underpayed the valeu



$500 told on title
there were 3 optioins


i did where i sign the price was correct and true and a note. i said the trans was bad. never bothered me again

---------- Post added at 06:11 AM ---------- Previous post was at 06:09 AM ----------

i always pay, they look too much into gifting cars.


if its a pos car throw up a couple bucks and say you paid on it
 
southscooby257 said:
my first wrx i bought i payed 1100 for it drove it home and tag/titled it later no problem (i owned my first wrx in 05) they sent a letter 1.6 yrs later saying i underpayed the valeu



$500 told on title
there were 3 optioins


i did where i sign the price was correct and true and a note. i said the trans was bad. never bothered me again

---------- Post added at 06:11 AM ---------- Previous post was at 06:09 AM ----------

i always pay, they look too much into gifting cars.


if its a pos car throw up a couple bucks and say you paid on it
Click to expand...
yeah well the cars i have sold were all salvage title.. not even worth 5 bucks for taxes lol:laugh::laugh::laugh:
 
I think if you write gift as the selling price when the person registers it, they have to pay taxes one the"fair market price" of the car.
 
you can gift car so many times before they start charging you mad dough.

if you put 500$ w/e that is normal, just tell them that the car had no motor and its a pos 240 they will understand lol
 
You must log in or register to reply here.
Back
Top Bottom