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Posted on 12-16-06 2:01
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hello all,,, i m purchasing a car from an owner..I am paying him 3500.... he said that he will gift the car because by this way i don't have to pay tax...Can i purchase a car (i m paying) this way...... plz leave a reply.....is it ok with that...i mean can the owner come later and change the ownership when the title is transfered to me...i m new to this system..so asking a stupid question...thank you...... thank you
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mansion
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Posted on 12-16-06 2:03
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ya, you save the sales tax, but i think the buyer and the seller has to have a same last name.
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Posted on 12-16-06 2:09
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no i don't think that we have same last name......
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jacksparrow
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Posted on 12-16-06 3:48
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I have a question. Why would be the seller intesrested in saving your sales tax? I mean he does not lose anything. Just wondering. Sparrow
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Posted on 12-16-06 4:19
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I don't know...may be he thought that i could save some money....just for huminity...if i was in his place i would do the same.......
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jacksparrow
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Posted on 12-16-06 4:26
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i think of the car is worth 3500 bucks and youo got enough money to buy go for it. But yesterday I think it was you again in another thread saying you dont have enough money to buy a 2000 dollar car. What I am trying to say is if you are trying to pay in installments, how are you two guys going to work out about the sales tax coz you need to pay the sales tax when you go to register the car in the tag office. As a whole all I want to say is make sure the guy is not a fraud. Sparrow
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Posted on 12-16-06 4:30
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My friends is contributing the rest of amount...so it's not installment...yeha u r right....i m just want to make sure that guys is not fraud......i want to know if someone present me the car as a gift ( i would pay him by check) can he claim the ownership later once ownership is transfered to me ?????
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jacksparrow
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Posted on 12-16-06 4:50
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No, one can not claim the ownership of the car after the paperwork is done. Sparrow
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latoboy
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Posted on 12-16-06 7:27
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it is true that if he gifts the car to u, u will save quite a bit of $$$ on taxes. im not sure what the tax rate in your state is but im sure its average of about 8 % tax so already u will save 8 % of 3500 but becareful when u goto dmv to register the car cuz they might get suspicious if its a newer car.
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Jhiilke
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Posted on 12-16-06 8:00
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yes, you can register as a gifted car. In this way you can save tax.
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