Hey /o/, since I'm going back to school this year, I'm taking my car and putting it in my father's name, and "selling" it to him. When he goes to the DMV to get it placed under his name, how much should I expect to pay in taxes? Will it be the taxes on how much he "pays"? Or blue book value? (I'm Canadian btw)
>>15631333
Depends on the state but in SC you can list it as a gift, and pay the minimum of sales taxes, you'd still have to pay property tax
>>15632047
Interesting, I'll look into that. Thanks.
>>15632435
Your dad will pay the tax on the price you write on the pink slip. In California if I bought a car off you and you write on the pink slip that you sold it to me for 500$ I would pay about 55$ in fees
>>15632454
I know what you're saying, but do they have a blue book value in America?
>>15632454
Fucking Texas actually looks up car values based on odometer, I listed mine as 7000, and the lady was like it's listed for 7100 so that's what we're taking you based on.
>>15632454
>>15632476
When I first bought my car, I bought it for 2 and a half grande. The guy wrote a thousand on the reciept. The woman behind the counter said she was going to look at the value in the blue book meaning if the average 06 pursuit is $3,500, they'll charge me the tax on that which is a lot more than the $1,000 on my reciept. I'm in Canada in a province where our tax is 15% so trying to evade this tax as much as possible is the goal.
>>15631333
which Province?
dont know about taxes but we dont have any with selling a car like that here in Alberta, my parents bought me my first car 10 years ago and had it under their name, when i got my full license when i was 17 my mom sold the vehicle to me for $1 so i could put it in my name, no issues
Alberta all you need is a bill of sale anyways, no pink slips etc like the states. dont know if any other Provinces are different
>>15631333
Depends on the state, but in WA, even if you list it as a gift, the receiver of the car has to pay sales taxes based upon the official book value of that car. I know because I gave away my previous two used cars (first owner each time) as gifts. The recipient always had to pay the sales tax value.
My state did that to prevent collusion between buyer and seller from defeating the taxation system for sales of used cars. Otherwise, you end up with "Hello customer, would you like to buy this PENCIL from us for $4500 dollars? It comes with a free gift of a used car....."
>>15633137
>If you can provide proof that the person who gave you the vehicle or vessel paid sales or use tax on the vehicle or vessel, no use tax is due.
Straight from the WA DOL, also if they owned the car for more than 7 years.
>>15632491>>15632481
>>15632476
I have never seen any car being sold private party on a agreed price getting forced to go by blue because the doc says so. How the fuck is the dmv going to go by blue book? What if you sold a 2005 car worth 5000$ but the transmission is garbage and the motor has a hole in it? So you only payed 1000$ for it? Is the dmv going to make you pay 5000$ for a car with a bad motor and tranny? Seriously it doesn't make any fucking sense how does the dmv know that the car doesn't have broken windows or it's scratched and dented? Like WHAT THE FUCK
where i live you can gift cars to family members only and they pay tax on one cent or something ridiculous like that
>>15631333
>>15633418
Most states have some provision to allow a blood relative to gift a car mostly tax free to another blood relative... but it depends on your state. Check your local DMV website
>>15633137
>but in WA
Greedy fuckers. Then they turn around and ask "Why you drive old polluting beater instead of nice new clean car, anon?"