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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
DMV/tags/title
Posted by:
Bounce House
()
Date: April 14, 2009 08:40PM
I am selling my car to my father in law and getting a new one from a dealer. The tags on my current one are expired. Between new tags and title transfer, which do I do first to avoid paying twice or paying for something for just a couple of weeks? That is, do I need to renew the tags at all to transfer them to the new car, etc.? Or will I have to pay for a new registration anyway?
Thanks.
Thanks.
Re: DMV/tags/title
Posted by:
boredom
()
Date: April 14, 2009 11:19PM
Don't bother with new tags. Just tell him to drive to the nearest DMV and get new tags when he registers the car in his name. If the DMV requires that the car have some kind of valid registration before they'll allow it to change ownership (I can't imagine they would), then see if you can get temporary tags for the car. I'm sure they have something on the dmv.state.va.us website on that topic.
As for the title transfer, you don't have to pay for that. Your father-in-law will. When I sold my last car I just signed over the title and was done.
As for the title transfer, you don't have to pay for that. Your father-in-law will. When I sold my last car I just signed over the title and was done.
Re: DMV/tags/title
Posted by:
Yup
()
Date: April 14, 2009 11:34PM
Boredom is right, don't bother getting new tags. You don't need to register a car to sell it, so just sign over the title and your father-in-law can get a new title printed in his name and get his new tags when he goes to the DMV.
Also, since you're selling it, I'd recommend just typing up a simple bill of sale with the basic info on it (make/model, VIN, price, date, being sold as-is), and have both of you sign it. Not saying he's out to dick you over, but it doesn't hurt to cover your own ass.
Also, since you're selling it, I'd recommend just typing up a simple bill of sale with the basic info on it (make/model, VIN, price, date, being sold as-is), and have both of you sign it. Not saying he's out to dick you over, but it doesn't hurt to cover your own ass.
Re: DMV/tags/title
Posted by:
Junes
()
Date: April 15, 2009 08:03AM
When you make a simple bill, use the lowest possible blue book for the "selling price," even if you and your father-in-law agreed to a higher sales price.
Your father-in-law will have to pay sales and "road" taxes when he registers the vehicle in his name and it will be based on the sales price on the bill.
Your father-in-law will have to pay sales and "road" taxes when he registers the vehicle in his name and it will be based on the sales price on the bill.
Re: DMV/tags/title
Posted by:
tubby
()
Date: April 15, 2009 07:26PM
Junes Wrote:
-------------------------------------------------------
> When you make a simple bill, use the lowest
> possible blue book for the "selling price," even
> if you and your father-in-law agreed to a higher
> sales price.
>
> Your father-in-law will have to pay sales and
> "road" taxes when he registers the vehicle in his
> name and it will be based on the sales price on
> the bill.
That's illegal (tax evasion), but in this morally bankrupt society, I guess it's okay.
That said, DMV will allow a vehicle to be gifted (no tax) to an immediate family member....I'not sure if an "in-law" qualifies but I would write two bills of sale: one stating that the car is a gift to xxxxx and state the relationship (father in law). In case an in-law doesn't qualify for gift purposes....also write a bill of sale for $1.00....then he will pay only the minimum sales tax ($35, I think).
Note: the above advice does NOT apply if he is financing the car (lien)...then DMV knows it's an arm's length tranaction and can tax him on the loan amount.
About the tags, expired plates are trash....plus they can not be transferred to your father-in-law anyway. So, he gets new tags (or transfers valid plates off a vehicle HE owns or owned). And you just get new tags for your new vehicle. The only scenario I can think of where you would want to renew your tags and transfer them to your new car is if they are personalized or have some other meaning to you. Otherwise it's cheaper just to get new plates for your new car.
-------------------------------------------------------
> When you make a simple bill, use the lowest
> possible blue book for the "selling price," even
> if you and your father-in-law agreed to a higher
> sales price.
>
> Your father-in-law will have to pay sales and
> "road" taxes when he registers the vehicle in his
> name and it will be based on the sales price on
> the bill.
That's illegal (tax evasion), but in this morally bankrupt society, I guess it's okay.
That said, DMV will allow a vehicle to be gifted (no tax) to an immediate family member....I'not sure if an "in-law" qualifies but I would write two bills of sale: one stating that the car is a gift to xxxxx and state the relationship (father in law). In case an in-law doesn't qualify for gift purposes....also write a bill of sale for $1.00....then he will pay only the minimum sales tax ($35, I think).
Note: the above advice does NOT apply if he is financing the car (lien)...then DMV knows it's an arm's length tranaction and can tax him on the loan amount.
About the tags, expired plates are trash....plus they can not be transferred to your father-in-law anyway. So, he gets new tags (or transfers valid plates off a vehicle HE owns or owned). And you just get new tags for your new vehicle. The only scenario I can think of where you would want to renew your tags and transfer them to your new car is if they are personalized or have some other meaning to you. Otherwise it's cheaper just to get new plates for your new car.
Re: DMV/tags/title
Posted by:
boredom
()
Date: April 17, 2009 07:03AM
lol. Junes says to use the lowest blue book value and you call him morally bankrupt. You then turn around and suggest using $1 as the sale price which in the grand scheme of tax evasion is far worse than going with the BB value. Depending on the make and model of the car, there is no way the DMV is going to buy that shit.
Re: DMV/tags/title
Posted by:
tubby
()
Date: April 17, 2009 10:41PM
boredom Wrote:
-------------------------------------------------------
> lol. Junes says to use the lowest blue book value
> and you call him morally bankrupt. You then turn
> around and suggest using $1 as the sale price
> which in the grand scheme of tax evasion is far
> worse than going with the BB value. Depending on
> the make and model of the car, there is no way the
> DMV is going to buy that shit.
DMV absolutely WILL take any sales price so long as it is supported by a properly drawn up Bill of Sale. (Again, there cannot be a lien when a token sale price is used.)
PS: The morally bankrupt comment was not directed at junes in particular, but at you assholes in general. Sorry for the confusion.
-------------------------------------------------------
> lol. Junes says to use the lowest blue book value
> and you call him morally bankrupt. You then turn
> around and suggest using $1 as the sale price
> which in the grand scheme of tax evasion is far
> worse than going with the BB value. Depending on
> the make and model of the car, there is no way the
> DMV is going to buy that shit.
DMV absolutely WILL take any sales price so long as it is supported by a properly drawn up Bill of Sale. (Again, there cannot be a lien when a token sale price is used.)
PS: The morally bankrupt comment was not directed at junes in particular, but at you assholes in general. Sorry for the confusion.