general question about buying from a private seller
#1
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Location: Jacksonville Florida
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general question about buying from a private seller
i know they say when u go to a dealership that the sticker price isnt the sticker price u still have to pay tax title and fees, so i assumed that when u buy from a private seller the tax part u dont pay just the title and registration...is this not true my loan officer tried explaining it to me, but i didnt really understand, do i still have pay the tax part for that care im buying it for 15k
#4
#7
In the distant past, when buying from an individual the "bill of sale" might read sold for $1 plus other considerations. This eliminated the "sales tax" on a used vehicle and was an incentive to buy from an individual. Now the state where you license the car will probably charge a sales tax based on the age and MSRP (in Oklahoma) plus the tag and registration fee.
As stated in this post; "....there's no escaping death and taxes". Or to quote another famous Okie"....There's nothing as permanent as a temporary tax". Will Rogers
Okie
As stated in this post; "....there's no escaping death and taxes". Or to quote another famous Okie"....There's nothing as permanent as a temporary tax". Will Rogers
Okie
#9
#10
Safety Car
they will collect it when you transfer title and register the car in your name (and getyour tags or transfer them from a previous vehicle)
#11
Never could understand that. That car was taxed when it was new and continues to be taxed until the day it dies. Sounds like a person doesn't it? To me though that sounds like double taxation.
#13
Le Mans Master
Another way you can reduce the amount that you pay in taxes is if you are trading a vehicle . The value of your trade is deducted from the amount that you pay in taxes. Here in Pa. that also applies when you buy from a private owner and you do a trade but everything has to be notorized.
#14
California will collect sales tax at the DMV based on the price you write on the title/reg paperwork when you submit it for registration. Some people aren't completely honest with the DMV on the amount they say they paid for that private purchase inorder to reduce the amount of taxes they owe......a zero has fallen off on occasion I am sure.
#15
In Ontario, you pay 13% sales tax on the MINIMUM BLUE BOOK VALUE. My friend bought a 98 for $19k but had the seller write out the bill of sale for $5k. The DMV made him pay tax on $7,500 - just under $1k
#16
Race Director
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Call your county tax collectors office in FL. You pay title, tag & your home county tax based on the sales price. So yes, you DO pay the tax part on the 15K buying from an individual in-state. The only exception for you is trading vehicles but you made no mention of that.
#17
Pro
Not sure if they used Blue Book but I watched her enter the VIN and Odometer reading and she quoted the value and amount of tax I had to pay. This was 2008, my 04 only had 8K on it. I was charged $1300 by the Texas DMV for my registration.
#18
Melting Slicks
In Nevada they charge registration fees on the MSRP minus depreciation. When I bought my 62 vette in 2006, they tried to get me for fees for a car that was worth $50,000.00 (which was actually pretty close). I explained to the lady that the car was only $4,000.00 brand new and had 44 years of depreciation on top of that. How did they come up with that? She didn't know what to do, so she went upstairs for a while to talk to the higher ups. She finally came back down a while later with the registration fee for a $300.00 car. It was great! I know this thread was about tax fees, but I had to mention how I finally got back at the DMV.
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#20
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You can't get away from the taxman.