Fees to transfer a vehicle?
October 17, 2008 12:51 PM Subscribe
How do I go about trading cars?
So, it's finally happened. A craigslist reader has finally taken me up on my offer to trade vehicles. I'm feeling great about the particulars of the trade (it's a good, even trade), but it just dawned on me that I don't know a thing about the particulars of making this happen. (I'm in Florida.) I'd go the licensing bureau, but it's nearly 5:00 on a Friday, and I'll never make it there in time. Can you help me out? I'm assuming that there's no sales tax involved, since there's no sale, but I don't know that for sure. Are there other fees involved? I've been looking at the websites for the appropriate departments, but I can't seem to find where this is addressed. I'd appreciate any help I can get. Thanks.
So, it's finally happened. A craigslist reader has finally taken me up on my offer to trade vehicles. I'm feeling great about the particulars of the trade (it's a good, even trade), but it just dawned on me that I don't know a thing about the particulars of making this happen. (I'm in Florida.) I'd go the licensing bureau, but it's nearly 5:00 on a Friday, and I'll never make it there in time. Can you help me out? I'm assuming that there's no sales tax involved, since there's no sale, but I don't know that for sure. Are there other fees involved? I've been looking at the websites for the appropriate departments, but I can't seem to find where this is addressed. I'd appreciate any help I can get. Thanks.
Instead of a trade maybe you sell each other the cars for a dollar? Then write up bills of sale to that effect to document the transaction?
posted by COD at 1:49 PM on October 17, 2008
posted by COD at 1:49 PM on October 17, 2008
Yeah, you'll both owe sales tax.
Everywhere I've lived it's been like this:
Get the titles
Sign the titles over to each other
Go to the secretary of state for new title/registration
The value paid you'd list on the title would be the value you'd expect for the car. If you say you only paid a buck, they won't buy it and will charge you whatever blue book is. Typically that's higher than what you'd pay from a private party...ie, if you lie about it and say it's worth a buck, it'll cost ya.
posted by paanta at 1:52 PM on October 17, 2008
Everywhere I've lived it's been like this:
Get the titles
Sign the titles over to each other
Go to the secretary of state for new title/registration
The value paid you'd list on the title would be the value you'd expect for the car. If you say you only paid a buck, they won't buy it and will charge you whatever blue book is. Typically that's higher than what you'd pay from a private party...ie, if you lie about it and say it's worth a buck, it'll cost ya.
posted by paanta at 1:52 PM on October 17, 2008
This thread is closed to new comments.
This page from the Florida Department of Revenue indicates that barter exchanges (clearinghouses) have to collect sales tax on transactions they facilitate, although the section of the code cited is silent as to the responsibilities of individual barterers.
posted by Doofus Magoo at 1:36 PM on October 17, 2008