confused on some things, buying used m3 from private party

Siciliano611 · 01-12-2012, 08:06 PM

I live in GA and I am close to buying a e92 m3 from a private party in NJ. I have several questions which I have googled but to no concrete answers.

1) Do I have to pay any sales tax when buying from a private party out of state (buying in NJ and trying to register it in GA)

2) What is the legal method of being able to drive the car back from NJ to GA after the sale, as in how/would i have to obtain a temp tag, etc.

I am sure someone in here has bought a used m3 from private party across state lines and can help me. Thanks in advance

mdosu · 01-12-2012, 08:11 PM

1. yes, you only pay your local taxes. When you register your car at your local buearu of motor vehicles, get you check book ready you have to write a big check for the tax all at once. They will ask for current title (filled out to transfer to you), and a bill of sale, they calculate this off the bill of sale.

2. you don't, you risk it, just have your bill of sale with you with the date. But when you do buy it, call the VIN in to your insurance right away to get insured

Siciliano611 · 01-12-2012, 08:15 PM

I thought I read in several places that there is NO sales tax paid for private party car sales as a resident of GA...can anyone validate that?

red998 · 01-12-2012, 09:05 PM

no sales tax?
that chit cray

Poofyo101 · 01-12-2012, 11:44 PM

Quote:

Originally Posted by sicilianoNJ

I thought I read in several places that there is NO sales tax paid for private party car sales as a resident of GA...can anyone validate that?

I believe thats true. Thats also what I heard.

M3SQRD · 01-13-2012, 06:12 AM

In MD you can get a 30-day temp tag/registration when buying a private-party used car. I'd check with the GA dept of motor vehicles to see if they offer a temp tag.

Also, you only pay sales tax in the state where you register it. However, I have no idea if GA does/doesn't require you to pay a sales tax when you register the car.

mdosu · 01-13-2012, 11:29 AM

Quote:

Originally Posted by sicilianoNJ

I thought I read in several places that there is NO sales tax paid for private party car sales as a resident of GA...can anyone validate that?

dont know, i don't live in GA, go talk to the motor vehicles buearu, if no sales tax in GA, good for all GA residence. Taxes add around a good $4k on our cars.

Lorde · 01-13-2012, 12:52 PM

Avoid sales tax by going through an Auto Trust. The owner of the F40 in Va has his car titled in Montana. Another exotic owner has his car titled in Alaska. You will pay a fee, but will avoid taxes on a $70k sports car.

mdosu · 01-13-2012, 02:00 PM

Quote:

Originally Posted by Snig

Avoid sales tax by going through an Auto Trust. The owner of the F40 in Va has his car titled in Montana. Another exotic owner has his car titled in Alaska. You will pay a fee, but will avoid taxes on a $70k sports car.

really...hmm, I saw that F40 guy at Cars and Coffee here, was wondering about the Montana plate. I checked out the idea, there are lawyers out there willing to do all the paperwork for you. The catch is, most require you to pay a maintenance fee of around $100 a year. unless you have the time and energy to set it all up yourself.

auggiem3 · 01-23-2012, 07:26 PM

Quote:

Originally Posted by Snig

Avoid sales tax by going through an Auto Trust. The owner of the F40 in Va has his car titled in Montana. Another exotic owner has his car titled in Alaska. You will pay a fee, but will avoid taxes on a $70k sports car.

I've seen that guy at Cars and Coffee too - always wondered how much property tax a ferrari driver had to pay if my mid-60's M3 cost me almost $2k the first year and still being taxed at well over $1250 after 3 years.

So what is the deal with the Auto Trust - how do they work? Is it tax evasion in VA? Can it be your daily driver or does it have to be a collector car?

THE TECH · 01-24-2012, 09:00 AM

Quote:

Originally Posted by mdosu

dont know, i don't live in GA, go talk to the motor vehicles buearu, if no sales tax in GA, good for all GA residence.

Not sure why the OP just didn't start there instead of asking on a forum.

mdosu · 01-24-2012, 09:18 AM

Quote:

Originally Posted by auggiem3

I've seen that guy at Cars and Coffee too - always wondered how much property tax a ferrari driver had to pay if my mid-60's M3 cost me almost $2k the first year and still being taxed at well over $1250 after 3 years.

So what is the deal with the Auto Trust - how do they work? Is it tax evasion in VA? Can it be your daily driver or does it have to be a collector car?

i looked into this. Unless you have the time and legal know-how, it's not worth it for a 60k and depreciating M3. There are lawyers out there willing to do all the paperwork for you, for a one-time + reoccuring fee, but it's just not worth it IMO.

I think it'll be easier if you have a second state of residence and just register the car there. (IE, a friend's house, parent's house) If you do this, remember to keep you local DC area insurance, and notify them your car is located in the DC area. They won't ask about registeration, but it doesn't hurt to ask them regarding disclaimer, if any, of cars registered out of state, and a out of state driver's license. This is just in case something happens, they can't come back and get you on "insurance fraud" and deny a claim.

mxa121 · 05-15-2012, 07:39 AM

I am in GA, if you buy a vehicle from a private party seller, there is no sales tax. You still have to pay to register the vehicle, but this is not the same as a 7% tax on the sale price.

As stated earlier, buy the car, keep the bill of sale on hand, and insure it immediately, and you can drive it home free.

I am hoping to buy a car at distance as well...

01-12-2012, 08:06 PM	#1
Siciliano611 Major 396 Rep 1,303 Posts Drives: SMB M6GC Join Date: Mar 2007 Location: ATL iTrader: (3)	confused on some things, buying used m3 from private party I live in GA and I am close to buying a e92 m3 from a private party in NJ. I have several questions which I have googled but to no concrete answers. 1) Do I have to pay any sales tax when buying from a private party out of state (buying in NJ and trying to register it in GA) 2) What is the legal method of being able to drive the car back from NJ to GA after the sale, as in how/would i have to obtain a temp tag, etc. I am sure someone in here has bought a used m3 from private party across state lines and can help me. Thanks in advance
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01-12-2012, 08:11 PM	#2
mdosu Banned 314 Rep 8,496 Posts Drives: Double Vanos'd Civic-M3 Join Date: Oct 2009 Location: San Francisco iTrader: (6)	1. yes, you only pay your local taxes. When you register your car at your local buearu of motor vehicles, get you check book ready you have to write a big check for the tax all at once. They will ask for current title (filled out to transfer to you), and a bill of sale, they calculate this off the bill of sale. 2. you don't, you risk it, just have your bill of sale with you with the date. But when you do buy it, call the VIN in to your insurance right away to get insured
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01-12-2012, 08:15 PM	#3
Siciliano611 Major 396 Rep 1,303 Posts Drives: SMB M6GC Join Date: Mar 2007 Location: ATL iTrader: (3)	I thought I read in several places that there is NO sales tax paid for private party car sales as a resident of GA...can anyone validate that?
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01-12-2012, 09:05 PM	#4
red998 Lieutenant 38 Rep 556 Posts Drives: E92 SG '10 6MT Join Date: Jun 2009 Location: Cary NC iTrader: (0)	no sales tax? that chit cray
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01-13-2012, 06:12 AM	#6
M3SQRD Major General 2103 Rep 5,496 Posts Drives: E92 M3,G20 330ix,F22 240iX,F82 Join Date: Jun 2009 Location: Mid-Atlantic iTrader: (11)	In MD you can get a 30-day temp tag/registration when buying a private-party used car. I'd check with the GA dept of motor vehicles to see if they offer a temp tag. Also, you only pay sales tax in the state where you register it. However, I have no idea if GA does/doesn't require you to pay a sales tax when you register the car.
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01-13-2012, 12:52 PM	#8
Lorde Ya ya ya, I am Lorde, ya ya! 266 Rep 2,772 Posts Drives: E90 M3, 2015 SQ5 Join Date: May 2011 Location: Snig iTrader: (10) Garage List 2008 BMW M3 E90 [0.00]	Avoid sales tax by going through an Auto Trust. The owner of the F40 in Va has his car titled in Montana. Another exotic owner has his car titled in Alaska. You will pay a fee, but will avoid taxes on a $70k sports car.
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05-15-2012, 07:39 AM	#13
mxa121 Major 226 Rep 1,064 Posts Drives: M Join Date: Apr 2012 Location: United States iTrader: (3)	I am in GA, if you buy a vehicle from a private party seller, there is no sales tax. You still have to pay to register the vehicle, but this is not the same as a 7% tax on the sale price. As stated earlier, buy the car, keep the bill of sale on hand, and insure it immediately, and you can drive it home free. I am hoping to buy a car at distance as well...
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