PICASO

I'm about to buy a Z06 from an individual. When applying for title transfer in Texas the buyer must pay sales tax on the vehicle's 'standard presumptive value'. Any of you ever tried 'Gifting' a vehicle when applying for title transfer, which is subject only to a $10 Gift Tax? I would really appreciate anyone's feedback here

johnodrake

I would be worried about tax fraud, unless the seller is really going to give it to you.

VET4LES

In California there is no sales tax when a used car is sold to a brother or sister. The law is written for no sales tax when sold to a brother only but there is a way around it for the sister also. I learned about this when we bought a car from my brother in law.

vetsvett

I did it once and there were no problems.

Red Rochester

The sellar is a fool to do it. Gifting is usually among family members or a charity.

vettnut69

I tired to get away with it here in New York... I bought the car and bill of sale was in my name and then tried to give it to my wife which would be tax free... Well to make a long story very short DMV said NO to it... I had to register car first and pay the sales tax then I could give to my wife tax free... Other states are probably different so good luck with it...

C6MagRed

I gifted my Dodge 4x4 to my father...... Needed a letter from me and the appropriate "gift" form in order to transfer the title..... I think it had to have a blue book value less than $10k to qualify (not sure though).... You won't be able to able to gift it to a non-relative or charity though.... Good luck

GCD1962

In CT the gift must be between close relatives, otherwise it is book value, or in the case of a new car, what you paid.

fiveodude

It's called a white collar crime. Don't be a crook.

rdm1465

You're from Texas? Remember that slogan? "Don't mess with Texas". I know it was originally meant for trashing the roads. But, i think it still applies here.

RFP

You have got to be joking!