Probably not, but it completely depends on the state you transfer the title to.
For example, Washington state has a set of criteria to determine how much Use Tax you pay: http://www.dol.wa.gov/vehicleregistration/usetax.html
. You could just "gift" the cars to each other. Hypothetically, I wouldn't have to pay tax as long as M3prsiv already paid sales tax when he got the car.
Here's the tax law in TX: http://www.txdot.gov/drivers_vehicle...tive_value.htm
. M3prsiv won't pay tax for a trade, either.