Sellin the car....whats this tax bull****~

[OutOfStock]

So my trucks sold basically they are just finalizing the loan. So heres the question....whats with the taxes? How much would it be? Is there a certain equation to figure it out? I'm getting $8600 for the truck if thats gonna help anyone. Thanks

Chris

[Aaron]

You already paid taxes on the truck when you bought it. The buyer has to pay the next round of taxes. (thats right, even though that truck has already taxed to one person, the government taxes it to every owner thereafter).

[OutOfStock]

So when the trucks sold i dont have to pay for anything?

[Aaron]

negative. I highly recommend John's Auto Tags

Edit: Nevermind, John's is a hike for you from southhampton.

[OutOfStock]

Yea...im taking mine to Southampton Motor Cars because we know the guy and all....he said he could save me money though on the taxes or something. Ive bought all my cars from him (My old impreza, my truck, my dads jeep and the other car (pt Cruiser))

[Aaron]

Well as far as saving in taxes, you used to be able to get away with saying that car was in rough condition and that you were only selling it for $500. This would be a favor to the buyer because s/he'd only have to pay taxes on $500. I think the state got around that and that you pay taxes on the book value of the car, or something. Either way, the buyer will be responsible for paying for tax, tags, and title.