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Selling a vehicle to an individual
#8596775
05/13/22 04:04 AM
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Joined: Jun 2011
Posts: 33,787
Buzzsaw
OP
THF Celebrity
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OP
THF Celebrity
Joined: Jun 2011
Posts: 33,787 |
So, let's say I want to sell my truck to a buddy. I have the title. What's the process? Do I have to pay taxes?
SPACE FOR RENT
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596785
05/13/22 04:25 AM
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Joined: Aug 2009
Posts: 22,688
BigPig
THF Celebrity
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THF Celebrity
Joined: Aug 2009
Posts: 22,688 |
Both of y’all go to the DMV, it makes life a lot easier. No, you won’t pay taxes, he will.
Wade Dews, REALTOR ® Rendon Realty, LLC Frontline Real Estate Team www.RendonRealty.comWadeDews@gmail.com 214-356-2410 Up to 1% for closing costs for First Responders & Veterans Proudly partnered with Assist The Officer Foundation https://atodallas.org/
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596787
05/13/22 04:30 AM
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Joined: Jun 2015
Posts: 11,510
rickym
THF Celebrity
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THF Celebrity
Joined: Jun 2015
Posts: 11,510 |
Bill of sale, sign the title. He pays the taxes, not you.
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596789
05/13/22 04:32 AM
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Joined: Apr 2012
Posts: 1,687
SherpaPhil
Pro Tracker
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Pro Tracker
Joined: Apr 2012
Posts: 1,687 |
Sign the title, cash the check, walk away.
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596790
05/13/22 04:33 AM
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Joined: Jul 2007
Posts: 23,613
Payne
Cat Herder
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Cat Herder
Joined: Jul 2007
Posts: 23,613 |
Buzz you're a mess, buy velcro shoes
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596799
05/13/22 05:19 AM
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Joined: Mar 2010
Posts: 11,905
ntxtrapper
THF Celebrity
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THF Celebrity
Joined: Mar 2010
Posts: 11,905 |
You keep both your license plates.
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Re: Selling a vehicle to an individual
[Re: ntxtrapper]
#8596825
05/13/22 10:25 AM
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Joined: Jul 2008
Posts: 33,184
bigbob_ftw
Big Sprocket Bob
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Big Sprocket Bob
Joined: Jul 2008
Posts: 33,184 |
You keep both your license plates. This.
Ultra MAGA '24.
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596842
05/13/22 11:25 AM
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Joined: Jul 2019
Posts: 14,022
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 14,022 |
130U and Vehicle Transfer Notification
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596856
05/13/22 11:42 AM
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Joined: Jul 2019
Posts: 14,022
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 14,022 |
Just make sure you have something in writing prior to taking it off your insurance. Believe me when I tell you this.
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Re: Selling a vehicle to an individual
[Re: BigPig]
#8596867
05/13/22 11:55 AM
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Joined: Nov 2009
Posts: 91,416
bill oxner
THF Celebrity
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THF Celebrity
Joined: Nov 2009
Posts: 91,416 |
Both of y’all go to the DMV, it makes life a lot easier. No, you won’t pay taxes, he will. Expert advice.
Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596871
05/13/22 11:58 AM
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Joined: Oct 2013
Posts: 5,883
Ol Thumper
THF Trophy Hunter
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THF Trophy Hunter
Joined: Oct 2013
Posts: 5,883 |
Remove the tags, I didn’t and it cost me $1200 in 3 states for tolls. As far as tax’s go you e already paid your part so he will pay them on the sale.
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596877
05/13/22 12:02 PM
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Joined: Dec 2020
Posts: 572
Catperch
Tracker
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Tracker
Joined: Dec 2020
Posts: 572 |
Vehicle transfer notification, AND keep the plates. I forgot to keep the plates on the last truck I sold and my wife has spent countless hours trying to get overdue toll charges dropped. They come in the mail daily.
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Re: Selling a vehicle to an individual
[Re: Ol Thumper]
#8596878
05/13/22 12:03 PM
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Joined: Apr 2005
Posts: 19,691
TurkeyHunter
THF Celebrity
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THF Celebrity
Joined: Apr 2005
Posts: 19,691 |
Remove the tags, I didn’t and it cost me $1200 in 3 states for tolls. As far as tax’s go you e already paid your part so he will pay them on the sale. Just removing the tags is not enough to protect you.
To be determined
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596941
05/13/22 01:18 PM
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Joined: Dec 2009
Posts: 9,771
The Dude Abides
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2009
Posts: 9,771 |
Everything you need to know is here... Selling a vehicle in Texas
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8596943
05/13/22 01:23 PM
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Joined: Dec 2010
Posts: 8,841
DocHorton
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2010
Posts: 8,841 |
If you have a toll tag, pull that off too!
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Re: Selling a vehicle to an individual
[Re: rickym]
#8596944
05/13/22 01:23 PM
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Joined: Oct 2016
Posts: 3,071
HandyMan91
Veteran Tracker
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Veteran Tracker
Joined: Oct 2016
Posts: 3,071 |
Bill of sale, sign the title. He pays the taxes, not you. Bill of sale means squat to the tax office for titled items. they only care about the 130u form and title. However I have needed bill of sale for non titled trailers
The only thing flat earthers have to fear is sphere itself
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Re: Selling a vehicle to an individual
[Re: BigPig]
#8596975
05/13/22 02:13 PM
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Joined: Oct 2009
Posts: 12,158
wp75169
THF Celebrity
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THF Celebrity
Joined: Oct 2009
Posts: 12,158 |
[quote][/quote] Both of y’all go to the DMV, it makes life a lot easier. No, you won’t pay taxes, he will. You can not go wrong this way. If the buyer can’t go with you immediately tell him to let you know when he’s available and he can take possession of the vehicle then. It’s never bit my butt before with strangers, but I have a kid running around in a vehicle in my name a year after he was supposed to transfer the title. Yep, I’ve got toll bills.
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Re: Selling a vehicle to an individual
[Re: TurkeyHunter]
#8596995
05/13/22 02:42 PM
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Joined: Dec 2012
Posts: 5,780
MeanGreen85
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2012
Posts: 5,780 |
You keep both your license plates. This and this. Also call your insurance ASAP to get it off your payroll.
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Re: Selling a vehicle to an individual
[Re: BigPig]
#8596996
05/13/22 02:43 PM
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Joined: Jan 2013
Posts: 2,653
Gringo Bling
Veteran Tracker
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Veteran Tracker
Joined: Jan 2013
Posts: 2,653 |
Both of y’all go to the DMV, it makes life a lot easier. No, you won’t pay taxes, he will. No reason at all to go to the DMV. I sold a vehicle for cash last year. I signed the title over to them and signed a bill of sale. Just make sure you take the plates off, remove/disable TollTags, and cancel insurance. I also took pictures of the buyer's license just in case something happened down the road.
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Re: Selling a vehicle to an individual
[Re: TurkeyHunter]
#8597044
05/13/22 04:09 PM
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Joined: Dec 2005
Posts: 35,409
Guy
THF Celebrity
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THF Celebrity
Joined: Dec 2005
Posts: 35,409 |
Yes this a must, do not just sign the title over, because they may never bother with transferring the title to their name, then they make trouble like like getting parking tickets, not paying toll... and you are responsible, and will turn into a big pain in the asss. Don't ask me how I know.
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Re: Selling a vehicle to an individual
[Re: Buzzsaw]
#8597048
05/13/22 04:16 PM
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Joined: Jul 2010
Posts: 6,841
HuntnFly67
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jul 2010
Posts: 6,841 |
If it is a gift or other transfer with no cost, are there taxes due to new owner?
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Re: Selling a vehicle to an individual
[Re: HuntnFly67]
#8597054
05/13/22 04:22 PM
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Joined: Apr 2005
Posts: 19,691
TurkeyHunter
THF Celebrity
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THF Celebrity
Joined: Apr 2005
Posts: 19,691 |
To be determined
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