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BMW 3-Series (E90 E92) Forum
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How do you trade a car with someone?
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11-16-2012, 07:58 PM | #23 | |
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Not true. In the last 3 years I sold a bunch of cars & bikes. In most cases the "lower tax rate" was a part of the deal. The CA dmv doesn't look at market rates and it does not send any bills to anyone for additional tax. Bad info...
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11-17-2012, 02:03 PM | #25 |
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11-19-2012, 08:53 AM | #26 |
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As long as you both say that's what you sold it for, you'll be fine.
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11-19-2012, 01:43 PM | #27 |
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Don't take legal advice from people on a forum! Check with your DMV to see what the rules are in your area. In Maryland a car can only be "gifted" between certain family members. If the car is not gifted, you will need to pay tax on the "fair market value" of the vehicle. Does not matter if no money changes hands, it is technically not a sales tax, it is a title tax that is paid upon the transfer of the title. Also, if the car is not "gifted" it will need to be inspected before it can be retitled. Your mileage may vary...
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11-19-2012, 04:17 PM | #28 | |
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then another receipt dictating the car as trade, and as part of the whole sale now that i'm writing it its osunds complex, but that how it went down. It was in PA, so we were able to drive together to some place that does all that in one shot. people have to be cool about it and it does work
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