trading cars?! help
 

im pending a trade with a guy about 2 hours away from me..i was wondering what is the step to getting a trade done without gettin rapped on taxes and such?

Bill of sale for a dollar each on each title? swap titles? profit?

You can't. When you do a title transfer, the selling price get sent to the DMV along with the title. If the selling price is reducoulous VS was they value the car at, they can send you a bill for the difference in tax. Just be legit and stop being a cheap ass. You gotta pay to play.

That sucks,in NJ every still 1$ sales.

if you declare the value of your vehicles the same, there will be no sales tax.

Or.. Affidavit of Gift (MV-13ST)

http://www.faziotagservice.com/forms/mv-13st.pdf

i think there is a min amount you have to pay like should say on the back of the title, just say 100 dollars and pay the few bucks taxes

what is your car, what is the car you are trading for? if you dont set up up legitimately, the state will just asses taxes based on their values for the car. as long as you are in their range, you are fine. if the cars are of similar/equal value, you wont pay much at all.

long story short, youre not going to win but you dont have to totally lose.

:cyberguy:

I've gifted 3 cars away and received two as gifts in the past 2 years. No probs here.

Tell them it was a straight up trade and it will go under as a gift catagory. I did this when trading fieros last year. No taxes no hassele.

If you are in PA: You tell the notary that your are swapping cars even up. They ask you to assess a value to the cars (make sure you say both are worth the same amount) they fill out a form that gifts your car to the other car and his to you. No taxes paid, just notary and title/registration fees. I've done this many,many times with no issues, as long as you go to a decent notary things should be painless.

Feel free to pm me if you want me to elaborate.

^ Dude you can't be serious with your avatar, LOL!