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Old 08-11-2018, 08:55 PM   #1
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Title trade??

Has anyone ever done a deal with a title swap? A guy contacted me today and wants to swap his car for my truck and it’s a pretty good deal. For me. Basically do you just sign each other’s title and hand them over? How does that work with the BMV?

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Old 08-11-2018, 08:57 PM   #2
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You can if your doing a straight swap I would do it at the dmv so they do make you enter a crazy amount and pay the taxes on it
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Old 08-11-2018, 08:58 PM   #3
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All I've ever done is trade a title for cash.
Sorry I'm no help.
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Old 08-11-2018, 09:38 PM   #4
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In Virginia regardless of the amount on the bill of sale if it is considered less than market they will tax you market. Of course if you paid more than market you get to pay that instead. Makes me crazy...
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Old 08-11-2018, 09:55 PM   #5
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So ur probably better off putting like $500 on it. Here they just tax the sale amount. I know in KY they tax the book value unless its notarized. Found that out when i sold my father in law a car.
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Old 08-13-2018, 10:28 AM   #6
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in my state o Maine you will get taxed on the value NOT bill of sale...pita.
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Old 08-15-2018, 03:19 PM   #7
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I'll swap a perfectly running 2001 Ford Sport Trac straight across for a perfectly running 4 cylinder Jeep CJ with a 12 volt system.
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Old 08-15-2018, 09:01 PM   #8
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In Texas now they charge you NADA blue book value for the vehicle in tax, no matter what you paid (or didn't) for the vehicle. Actually they started that practice a few years ago. Sux big time.
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Old 08-16-2018, 12:09 AM   #9
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Quote:
Originally Posted by RacerX View Post
In Texas now they charge you NADA blue book value for the vehicle in tax, no matter what you paid (or didn't) for the vehicle. Actually they started that practice a few years ago. Sux big time.
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Old 08-16-2018, 08:32 AM   #10
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Quote:
Originally Posted by RacerX View Post
In Texas now they charge you NADA blue book value for the vehicle in tax, no matter what you paid (or didn't) for the vehicle. Actually they started that practice a few years ago. Sux big time.
------------------------------------------
Yep about the only legal way to escape the tax is through inheritance with a probated will - are you guys related ?


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