info on trading cars - TriStateTuners.com :: Home of Tristate Auto Enthusiast

cmr076 · 01-25-2009, 11:47 PM

does anyone have any info on how to trade cars. me and another member are talking about trading cars and i have been ****ed in the past with taxes when trading.

i did a search and found nothing, so maybe this could be a helpful resource for others.

jdm free · 01-25-2009, 11:50 PM

wouldnt the taxes be how u guys valued the cars? i would agree on the "value" before hand. i know when i sold my car i said i sold it for 2grand so the guy payed less. and my dad has always done that when he sells his

FazdaGt · 01-25-2009, 11:53 PM

go to the notary, make sure it's a good notary, not some small hole in the wall place.

be VERY clear that your are doing an even trade and that no cash is exchanging hands.

they'll ask you to place a value on the cars, this is not for tax reasons. they just need a value to write on the forms.

They'll do either a gift or trade in form and you won't pay anything but title and tag fees.

Grkdc5 · 01-26-2009, 12:15 AM

yeah just tell them your gifting it and you will be just fine.

motorvated · 01-26-2009, 12:31 AM

Sell it to him for $200..he sells you his for $200. Ive done it...2 times. no problems.

FazdaGt · 01-26-2009, 12:33 AM

it throws a red flag when you sell an 03' mini cooper for $200....

follow my directions and pm me with any in depth questions.

i've done this more times than i can remember right now (at least five) and I have had no issues, and paid no tax.

jcr557 · 01-26-2009, 12:41 AM

Quote:

Originally Posted by motorvated

Sell it to him for $200..he sells you his for $200. Ive done it...2 times. no problems.

i've done that once, except for $100

TurboTagTeam · 01-26-2009, 12:52 AM

Quote:

Originally Posted by motorvated

Sell it to him for $200..he sells you his for $200. Ive done it...2 times. no problems.

That will defiantly not work with the Mini. A friend of mine tried saying he paid $200 for a 1999 integra. He got a call about a month later saying they expected him to pay 330$ for sales tax. They use the fair market value of the vehicle to establish it's value.

cmr076 · 01-26-2009, 01:02 AM

Quote:

Originally Posted by motorvated

Sell it to him for $200..he sells you his for $200. Ive done it...2 times. no problems.

i did that before with my audi... i just paid 800 in taxes on it last week (i had the car over a year ago) with something where the value is clearly not a few hundred dollars (mini cooper, audi, etc.) i dont think the 200 dollar thing would work.

cmr076 · 01-26-2009, 01:03 AM

Quote:

Originally Posted by FazdaGt

it throws a red flag when you sell an 03' mini cooper for $200....

follow my directions and pm me with any in depth questions.

i've done this more times than i can remember right now (at least five) and I have had no issues, and paid no tax.

and thank you, im going to call the notary tomorrow and see if they have heard of that.

marshallpre1 · 01-26-2009, 10:59 AM

As with everyone here, be careful in stating the value of your car. I "paid" $15K for my Supra....

01-25-2009, 11:47 PM	#1
cmr076 Tri-State Post Whore Join Date: Aug 2006 Location: blue bell/gwynedd valley, PA Member #2319 My Ride: S4 iTrader: (8)	info on trading cars does anyone have any info on how to trade cars. me and another member are talking about trading cars and i have been ****ed in the past with taxes when trading. i did a search and found nothing, so maybe this could be a helpful resource for others. __________________ 135 ├┼┼╕ 246R

01-26-2009, 12:31 AM	#5
motorvated Tri-State Post Whore Join Date: Oct 2008 Location: Olde City PA Member #9779 My Ride: 2010 VW Jetta 2.5, 5 speed/ 73 VW Beetle drop top. iTrader: (0)	Sell it to him for $200..he sells you his for $200. Ive done it...2 times. no problems. __________________ TST....where everybody swings on nuts.

01-26-2009, 10:59 AM	#11
marshallpre1 Tri-State Post Whore Join Date: Dec 2007 Location: NY Member #6445 My Ride: N/A iTrader: (1)	As with everyone here, be careful in stating the value of your car. I "paid" $15K for my Supra.... __________________ Jeremy 1997 Supra TT 6MT- PT67/Vipec/HKS/AEM/etc- fun street car 2004 G35 Coupe 6MT- Brembo pkg- daily/track days 1994 SC300 5MT- NA-T- PT61/AEM V1- future track car

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01-25-2009, 11:50 PM	#2
jdm free Tri-State Post Whore Banned Join Date: Feb 2006 Location: Langhorne Member #1481 My Ride: 6spd Civic iTrader: (3)	wouldnt the taxes be how u guys valued the cars? i would agree on the "value" before hand. i know when i sold my car i said i sold it for 2grand so the guy payed less. and my dad has always done that when he sells his

01-26-2009, 12:15 AM	#4
Grkdc5 Tri-State Training Wheels Join Date: Jan 2009 Member #10739 iTrader: (0)	yeah just tell them your gifting it and you will be just fine.