:Purchasing a used car

[rcook72]

I have never purchased a used car from a private party. After we make the transaction how long do I have to drive the car before I go to the DMV to register it and does anyone know what the sales tax is? THX in advance

[harvey lee]

The sales tax should be 6.5%. Then you will also have a few other fees along with license tabs if needed. I would go to register it as soon as possible and dont forget to call your insurance agent as one never knows when something bad could happen and you will want that insurance coverage.

I know that when I have sold used vechiles, I wanted the buyer to go right away as I wanted that title out of my name as I was not the owner any longer and didnt want that liabillity on me as the owner of the car.

[Kyle Sandberg]

Sales tax is not as high as 6.5. I bought a vehicle for 1500 and the tax was only 40$.

[Coach1310]

Not sure on the tax, but I would suggest meeting the other party at the DMV or License Center to get all that stuff done right away. This is especially important if you are the seller. You can avoid a slew of parking tickets and the like because someone you sold to and trusted didn't get the title switched(I am speaking from experience here ).

[Sandmannd]

Yep, meet at the DMV. This is also good for the buyer to make sure there are no leans or anything wrong with the title. Don't want to buy a car and then go to the DMV and they won't transfer it to you for some reason and then you can't get a hold of the dude. Also, I would call your insurance company and tell them what you are buying so you get a price right away. You can have them pre reg the car so the minute you buy it it's insured.

[harvey lee]

I just purchased a new used truck and was charged 6.5% sales tax.

The tax was over $1,000.00 Must be a lower rate for the dollars spent I guess.

[LMITOUT]

Sales tax on your vehicle is 6.5% of the purchase price or the fair market value, whichever is higher. For vehicles 10 years and older, you can pay an "in lieu" tax of $10 if the purchase price was less than $3,000 (if more than $3,000, it's based on fair market value).

For vehicles registered as classic, collector, street rod, and pioneer, the tax is $90 regardless of the purchase price.

[Jeremy airjer W]

If I remember right the seller has ten days to report the vehicle as sold. As far as law enforcement is concerned you cannot insure a vehicle you do not own. If the title is not transfered asap than you are driving without insurance. obviously there is some give in the amount of reasonable time you have. A guy I work with just went through that exact scenario. Was pulled over hadn't had the title transfered, the officer told him you cannot insure a vehicle you don't own and a warning was issued. The title was transfered the next day!

[norm25]

Have a technician check over the vehicle before you buy it. Make sure the vehicle is worth buying before anything. spend the money to have the vehicle checked out. could be money saved...

[Big Buck Buster]

The seller also has the option of going online to report the sale of a vehicle to the state, so if anything happens with the new buyer and the car you sold to them, you are cleared of any responsibility.

[Macgyver55]

 Originally Posted By: airjer

If I remember right the seller has ten days to report the vehicle as sold. As far as law enforcement is concerned you cannot insure a vehicle you do not own. If the title is not transfered asap than you are driving without insurance. obviously there is some give in the amount of reasonable time you have. A guy I work with just went through that exact scenario. Was pulled over hadn't had the title transfered, the officer told him you cannot insure a vehicle you don't own and a warning was issued. The title was transfered the next day!

There is a perforated portion on the title that should be filled out and kept by the seller, and the rest goes to the buyer. Technically that immediately relieves the seller of liability when it is signed and the vehicle now belongs to the buyer. I know this as fact since a guy I sold a vehicle to didn't transfer it right away and it was involved in an accident. The police came looking for me as the registered owner, which I was no longer. I had to go to the DMV and produce the slip with the buyers name. It cost me 6 bucks for a forced transfer, so now I just go there and do it on the spot so there is no question.

When you purchase another vehicle, as long as you have insurance on another one you are automatically covered for 30 days. (This came straight from my agent) He added, that waiting really wont save you anything since they back date coverage charges to the date of purchase, and to avoid a lot of paperwork hassle in case of an accident, its far better to do it ASAP.

[Jeremy airjer W]

There is also a self addressed postcard attached to the title that the seller is supposed to mail in or file online, the purchasers info, within 10 days.

[rcook72]

Thanks Guys! I had the seller fax a copy of the title to my bank, called for insurance and will go right to the DMV. Sounds like with this crappy weather we are gonna get I wont be driving it soon anyways. Its gonna kill me to get this ride and not be able to drive it.

[Ralph Wiggum]

 Originally Posted By: rcook72

Sounds like with this crappy weather we are gonna get I wont be driving it soon anyways. Its gonna kill me to get this ride and not be able to drive it.

LOL, just bought a new-to-us vehicle last night, too. Looks like I might be testing out the 4WD soon

[Sandmannd]

I would do a bill of sale as well. You can find them online if you google it. That's what I do when I buy or sell a boat, ATV, whatever. Just more stuff to show it's yours.

[UMDSportsman]

Good thread, I might be selling my truck pretty soon, and am starting to look at new-to-me trucks. good info.

[jwhjr]

Anytime I've sold a vehicle I've gone down to the DMV with the buyer to do the title transfer to ensure it takes place. I know if there's an issue it can all get straightened out in the end, but I'd like to avoid the hassle if at all possible.

[b1gf1sh1]

 Quote:

The police came looking for me as the registered owner, which I was no longer. I had to go to the DMV and produce the slip with the buyers name.

exact reason you get it done right away. even if it looks like a cat, smells like a cat and sounds like a cat, it might be a bad driving skunk. as someone stated, i second the tax as 10 bucks over 10 years under 3000 dollars, 6.5 (not for long if our legislators find out) over 3000K under 10 years old. incidentaly a 2009 in this senerio is 10 years old as they don't go by the month and the first year is allways counted in the age. service tech no matter what. it takes once to get taken for a ride and you will from now on. theres a reason it's being sold and most of the time it's not because they think it's still a good car. don't lay down on the price, haggle a little. generally a car at 8000 will go for 7000 mabe less. start at 5000 and go from there.don't be afraid to walk away. you almost allways get stopped to ''talk about this''. good luck.