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Selling a vehicle to an individual #8596775 05/13/22 04:04 AM
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Buzzsaw Offline OP
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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


Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596785 05/13/22 04:25 AM
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Both of y’all go to the DMV, it makes life a lot easier. No, you won’t pay taxes, he will.


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Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596787 05/13/22 04:30 AM
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Bill of sale, sign the title. He pays the taxes, not you.



Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596789 05/13/22 04:32 AM
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Sign the title, cash the check, walk away.

Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596790 05/13/22 04:33 AM
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Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596798 05/13/22 05:09 AM
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Y’all are missing an important detail that if you don’t do can cause a bunch of grief.

Vehicle Transfer Notification

https://webdealer.txdmv.gov/title/p...d=vehicleSearch&flowIndicator=online


To be determined
Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596799 05/13/22 05:19 AM
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You keep both your license plates.

Re: Selling a vehicle to an individual [Re: ntxtrapper] #8596825 05/13/22 10:25 AM
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Originally Posted by ntxtrapper
You keep both your license plates.


This.


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Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596842 05/13/22 11:25 AM
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130U and Vehicle Transfer Notification

Re: Selling a vehicle to an individual [Re: TurkeyHunter] #8596849 05/13/22 11:35 AM
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Originally Posted by TurkeyHunter
Y’all are missing an important detail that if you don’t do can cause a bunch of grief.

Vehicle Transfer Notification

https://webdealer.txdmv.gov/title/p...d=vehicleSearch&flowIndicator=online




This for sure

Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596856 05/13/22 11:42 AM
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Just make sure you have something in writing prior to taking it off your insurance. Believe me when I tell you this.

Re: Selling a vehicle to an individual [Re: BigPig] #8596867 05/13/22 11:55 AM
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Originally Posted by BigPig
Both of y’all go to the DMV, it makes life a lot easier. No, you won’t pay taxes, he will.


Expert advice.


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Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596871 05/13/22 11:58 AM
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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.

Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596877 05/13/22 12:02 PM
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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.

Re: Selling a vehicle to an individual [Re: Ol Thumper] #8596878 05/13/22 12:03 PM
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Originally Posted by Ol Thumper
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
Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596941 05/13/22 01:18 PM
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Everything you need to know is here...

Selling a vehicle in Texas


Originally Posted by Superduty
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.

Re: Selling a vehicle to an individual [Re: Buzzsaw] #8596943 05/13/22 01:23 PM
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If you have a toll tag, pull that off too!

Re: Selling a vehicle to an individual [Re: rickym] #8596944 05/13/22 01:23 PM
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Originally Posted by rickym
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


Originally Posted by Biscuit
The only thing flat earthers have to fear is sphere itself

Re: Selling a vehicle to an individual [Re: BigPig] #8596975 05/13/22 02:13 PM
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[quote][/quote]
Originally Posted by BigPig
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.

Re: Selling a vehicle to an individual [Re: TurkeyHunter] #8596995 05/13/22 02:42 PM
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Originally Posted by ntxtrapper
You keep both your license plates.

Originally Posted by TurkeyHunter
Y’all are missing an important detail that if you don’t do can cause a bunch of grief.

Vehicle Transfer Notification

https://webdealer.txdmv.gov/title/p...d=vehicleSearch&flowIndicator=online



This and this. Also call your insurance ASAP to get it off your payroll.

Re: Selling a vehicle to an individual [Re: BigPig] #8596996 05/13/22 02:43 PM
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Originally Posted by BigPig
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.

Re: Selling a vehicle to an individual [Re: Buzzsaw] #8597018 05/13/22 03:10 PM
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https://www.txdmv.gov/sites/default/files/form_files/VTR-346.pdf


Just did it. Simple as pie, transfer title, pay the sales tax, submit this.

Last edited by Blank; 05/13/22 03:11 PM.
Re: Selling a vehicle to an individual [Re: TurkeyHunter] #8597044 05/13/22 04:09 PM
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Originally Posted by TurkeyHunter
Y’all are missing an important detail that if you don’t do can cause a bunch of grief.

Vehicle Transfer Notification

https://webdealer.txdmv.gov/title/p...d=vehicleSearch&flowIndicator=online


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.

Re: Selling a vehicle to an individual [Re: Buzzsaw] #8597048 05/13/22 04:16 PM
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If it is a gift or other transfer with no cost, are there taxes due to new owner?

Re: Selling a vehicle to an individual [Re: HuntnFly67] #8597054 05/13/22 04:22 PM
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Originally Posted by HuntnFly67
If it is a gift or other transfer with no cost, are there taxes due to new owner?


Gifts are limited.

https://comptroller.texas.gov/taxes/publications/96-254/family-transfers.php

https://statutes.capitol.texas.gov/Docs/TX/htm/TX.152.htm#152.025


To be determined
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