Rules on Trading Cars?

[Freeasmbcanbe]

Hello, I'm looking to trade my car tomorrow with another gentleman. He told me that I just need to sign over the title to him and that we'd swap license plates. Is this really it?

 

[Magley64...AM]

yes, but you must also pay tax on the value assigned to the car..

 

[blackcobra487]

Pretty much, depending on your local laws. I know in PA the title has to be notarized. Of course the vehicle would also have to be registered and you would have to pay tax based on the value of the vehicle you're acquiring. If there are any questions, ask the local DMV

 

[Viresh]

Yes you have to pay the tax as per the requirement.

 

[KnightRider007]

you have to pay the tax

 

[Sukhdeep]

It is a nice post

 

[lindadale]

You will surely pay the tax and have to complete other formalities also relating to your car.My one friend just sold his truck and pay a very large amount of tax

 

[TamiPaulus]

Taxes varies with the location. Also the condition of truck will also be considered during taxation. If you are buying a truck from different states norms may get changes.

 

[steavehussey]

The tax that you will have to pay will be as per the value of your vehicle you are acquiring and this will be also affected by the specific laws of the native place.

 

[clifton]

Most of us deprive from this valuable info...

 

[zanejc]

It's good for my reference.. thanks