Quote:
Originally Posted by Reznick
Yup, depends on where you live. In NY its as easy as one signature, but you will pay the taxes on the value of the car.
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Same thing in MD - you pay tax when you register the car. And if you buy from a dealer, the sales tax is only paid on the difference between the new car price and the trade in value - but the dealer handles the transaction and collects the tax.
I suspect that by trading, both the OP and the other party will pay full sales tax according to how the state values each car upon registration.
Tom