1quikta Posted October 12, 2007 Report Share Posted October 12, 2007 I traded my truck even for an Accord and I am doing the paperwork this morning. If I don't fill in a sales price they will probably charge me for NADA, correct? Opinions? I usually buy or sell, not trade so this has not been an issue for me. In my opinion, I already paid for the truck so why pay for the Honda. Quote Link to comment Share on other sites More sharing options...
Bam Posted October 12, 2007 Report Share Posted October 12, 2007 You are required to pay sales tax on the value of the car, even in a trade deal. Just put it down as kinda cheap and don't pay much on it, but zero won't fly. Been there done that. It blows. Quote Link to comment Share on other sites More sharing options...
Mattsn2o281 Posted October 12, 2007 Report Share Posted October 12, 2007 $100 purchase price ftw... Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted October 12, 2007 Report Share Posted October 12, 2007 you pay sales tax on the difference unless things have changed since I was last aware.... Quote Link to comment Share on other sites More sharing options...
Big Steve Posted October 12, 2007 Report Share Posted October 12, 2007 $100 purchase price ftw... +2 They cannot say anything to you about what price you put. When I bought my old project 86 caprice brougham car I put 50 bucks. Quote Link to comment Share on other sites More sharing options...
HAOLE Posted October 12, 2007 Report Share Posted October 12, 2007 Call the BMV to be sure Quote Link to comment Share on other sites More sharing options...
1quikta Posted October 12, 2007 Author Report Share Posted October 12, 2007 As it stands I have $500 on it. Debating on changing to $1500. Quote Link to comment Share on other sites More sharing options...
Mattsn2o281 Posted October 12, 2007 Report Share Posted October 12, 2007 As long as you pay something on the car, they could care less. hell i think up untill i picked up SRT-4 in 04, i had never paid the full tax on anything, and that was around 18 cars or so ago. You really paid absolutly zero, and i think its rediculous to have to pay tax on something thats already been taxed to hell and back by the previous owner. If i can avoid it, i will never put down more then 100 on the title. but thats just me. Quote Link to comment Share on other sites More sharing options...
blue98ls1 Posted October 12, 2007 Report Share Posted October 12, 2007 I recently traded cars with someone and the woman at the title agency said to put 0 since no $ where paid for the car. It never hurts to ask though, your area may be different. Quote Link to comment Share on other sites More sharing options...
Drewhop Posted October 12, 2007 Report Share Posted October 12, 2007 I do title work for our dealership. In a trade you have to put a value on the trade. But i called the title office to make sure. Exact words are that you have to put a value but they dont care what the value is nor can they set it for you. So put 50 bucks on it and call it a day. Quote Link to comment Share on other sites More sharing options...
1quikta Posted October 12, 2007 Author Report Share Posted October 12, 2007 $50 sounds better, but I am back now from the title place and I kept it at $500. I don't believe I owed one damn penny, but that is neither here nor there. Thanks for the info guys! Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted October 12, 2007 Report Share Posted October 12, 2007 you pay sales tax on the difference unless things have changed since I was last aware.... Only when trading in a used vehicle on a new vehicle. Quote Link to comment Share on other sites More sharing options...
excell Posted October 12, 2007 Report Share Posted October 12, 2007 I've paid $1.00 for a few vehicles... Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted October 12, 2007 Report Share Posted October 12, 2007 helps if I read the OP more clearly eh? Only when trading in a used vehicle on a new vehicle. Quote Link to comment Share on other sites More sharing options...
1quikta Posted October 13, 2007 Author Report Share Posted October 13, 2007 I've paid $1.00 for a few vehicles... LOL, now that is unbelievable. Vinny, nice truck in the sig. Those years were my favorites. Quote Link to comment Share on other sites More sharing options...
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