Selling my Corvette need advice on buying a G
#33
11-09-2009, 06:52 PM
For me atleast, if you buy from a private party and have your car titled at DMV, you pay taxes at that point...
#34
11-09-2009, 10:09 PM
#35
11-09-2009, 10:56 PM
Convenient, but they charge a processing fee which they will not waive if you want to do everything yourself.
#37
11-10-2009, 12:46 AM
#38
11-10-2009, 01:45 AM
Registered User
You do pay taxes at the DMV, but it's not the actual sales tax that you pay when you buy the car from a dealer. I wrote on the form that I bought the car for $14,999 and I paid only $115 tax.
#39
11-10-2009, 01:47 AM
Registered User
As far as the NO TAX thing is concerned, that completely depends on the state you live in. In many states, you have to pay the exact same amount of tax on the car regardless of whether you buy it from a private party or from the dealership and also regardless of what you pay for it. I know that here in Mass., they calculate and charge your tax amount for the car purchase when you go to the DMV to register it, and it's based on some Blue Book value of the car, not the actual amount that you payed for it.
If you're considering the possible No Tax thing as an incentive to buying private party, make sure you look up the rules in your state as to how they handle tax on private party auto purchases... because it may end up not saving you anything in taxes.
If you're considering the possible No Tax thing as an incentive to buying private party, make sure you look up the rules in your state as to how they handle tax on private party auto purchases... because it may end up not saving you anything in taxes.
#40
11-10-2009, 01:49 AM
Registered User
#42
11-10-2009, 09:33 PM
#43
11-10-2009, 09:40 PM
Essentially, DMV could car less how much you pay or if the seller fudges the numbers on your receipt, you pay taxes by their book.
#44
11-10-2009, 10:04 PM
