Article View: tx.general
Article #143Re: Purchasing a Used Car
From: Jon M. Holdman
Date: Mon, 14 Sep 1992 17:56
Date: Mon, 14 Sep 1992 17:56
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2228 bytes
>What, if any, taxes are due when buying a used car from an individual, >and what is the minimum procedure/paperwork-requirements for such a >transaction? The seller will provide the buyer a sales tax affidavit, a mileage affidavit, and the signed-over copy of the title. Buyer gives the seller the agreed upon price, and gets the vehicle. Buyer takes paperwork to tax-assessors office and pays transfer fees, license fees, and sales tax. Sales tax is based on price shown on sales tax afadavit. Seller might want to go with buyer to be sure this actually gets done, lest the buyer just leave the vehicle in seller's name. It'll be tricker if there are any loans involved. If the seller has a payoff on the car, they won't have a title. Call the sellers lien-holder for how they want to handle it. Expect hassles. If the buyer is financing the car, you should talk it over with the new lien-holder as to how to handle it. >What would be different IF the seller (and car) is in another state? >Does it matter whether that state requires the license plates to be >retained by the seller or not? Probably, you'll have to get some sort of temporary license in the sellers state to give you time to get here with it. A trip to the tax-assessors office in the sellers state will probably be needed. You'll have to go through the same steps of taking the paperwork to the tax office here and pay them their bucks. >Is there any book or booklet with answers to the above questions? Not that I know of. A bank or credit union should be able to help you out. Also, call the tax-assessors office of the counties involved. Its not really all that big a deal, just one of the usual paper chases. Jon Holdman, jon@shell.com
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Path: arc1-ca.pugleaf.net!sparky!uunet!sun-barr!news2me.ebay.sun.com!cronkite.Central.Sun.COM!texsun!moxie!limbic!hounix!nuchat!shell!spjerint!jon From: jon@spjerint (Jon M. Holdman) Newsgroups: tx.general Subject: Re: Purchasing a Used Car Message-ID: <1992Sep14.175647.6314@shell.shell.com> Date: 14 Sep 92 17:56:47 GMT References: <1992Sep12.202703.19925@cactus.org> Sender: usenet@shell.shell.com (USENET News System) Distribution: tx Organization: Shell Oil Lines: 35