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-   -   "trade" cars ? (https://forums.maxperformanceinc.com/forums/showthread.php?t=675242)

steve 08-30-2011 09:58 AM

"trade" cars ?
 
what is the procedure for trading cars ? can you simply swap title with the other owner in front of a notary?

goatmanmitch 08-30-2011 06:16 PM

My state, PA, is a title state. I swapped cars about eight years ago and did it at the notary. I was surprised and pleased that neither of us had to pay sales tax.

steve 08-30-2011 06:27 PM

im in PA too. that sounds too easy.

David Holmberg 08-30-2011 09:02 PM

In Ky the party getting the higher priced car pays the difference in tax.

Florida, no tax on a trade.

steve 08-30-2011 09:11 PM

Quote:

Originally Posted by David Holmberg (Post 4405143)
In Ky the party getting the higher priced car pays the difference in tax.

Florida, no tax on a trade.

What if the cars are from different states ?

David Holmberg 08-30-2011 09:34 PM

Steve, I traded a truck (Florida) for an f body from Indiana and just paid the transfer fee, no tax.

I'm sure every state is different though.

goatmanmitch 08-30-2011 09:44 PM

Quote:

Originally Posted by steve (Post 4404989)
im in PA too. that sounds too easy.


It was. Good luck with your transaction.

Formulabruce 08-30-2011 09:51 PM

Quote:

Originally Posted by goatmanmitch (Post 4404983)
My state, PA, is a title state. I swapped cars about eight years ago and did it at the notary. I was surprised and pleased that neither of us had to pay sales tax.

Thats because it was assumed "equal equity"
Its sad that the Government insists on retaxing money that was already taxed, at least once


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