Anyone Want My Car ??
08-22-2001, 09:10 AM
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Anyone Want My Car ??
I don't use my S2000 much and I have decided it's designed for someone much younger than I am, so am thinking of clearing it out of my garage at home.
S/N 6606, 7,000 miles, Red, with Black interior, all dealer installed options ( frt, side, rear spoilers, CD Changer, Honda Alarm Sys, Wheel locks, etc.) NEVER VTEKed !! NEVER driven over 70 mph, NEVER raced, as I said I'm too old for that. Car has never used even a drop of oil, and never been to dealer, except for oil change.
Car was (unfortunately $43m, because of $2,720 of dealer options and $7,995 dealer markup ..... stupid me ).
Anyhow, all I want is $29,500, plus I can arrange less sales tax for you, and license is paid thru July, '02.
I'm sure you can't find a better one. Car is in San Jose. If it does not sell, no big deal, I'll just drive it whenever I'm in the mood.
S/N 6606, 7,000 miles, Red, with Black interior, all dealer installed options ( frt, side, rear spoilers, CD Changer, Honda Alarm Sys, Wheel locks, etc.) NEVER VTEKed !! NEVER driven over 70 mph, NEVER raced, as I said I'm too old for that. Car has never used even a drop of oil, and never been to dealer, except for oil change.
Car was (unfortunately $43m, because of $2,720 of dealer options and $7,995 dealer markup ..... stupid me ).
Anyhow, all I want is $29,500, plus I can arrange less sales tax for you, and license is paid thru July, '02.
I'm sure you can't find a better one. Car is in San Jose. If it does not sell, no big deal, I'll just drive it whenever I'm in the mood.
08-22-2001, 09:19 AM
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Just curious. How to arrange for less sales tax? 
Is it something like this?
1) buyer gives you a "gift" of $10,000 cash
2) then you sell the car for $19,500
Someone told me under $10,000 gift is exempt from sales tax. That's how I derive this scenario. Of course you can be even more creative abt this to avoid sales tax altogether!
Is it something like this?
1) buyer gives you a "gift" of $10,000 cash
2) then you sell the car for $19,500
Someone told me under $10,000 gift is exempt from sales tax. That's how I derive this scenario. Of course you can be even more creative abt this to avoid sales tax altogether!
08-22-2001, 10:02 AM
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Of course, every time a car changes hands in Calif, the DMV collects Sales tax when you transfer ownership & re-license the car. If a car changes hands every other year for the life of the car, California has made more on sales tax than the car originally sold for!
08-22-2001, 10:06 AM
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Trust me............. Sales tax is collected EVERY TIME A CAR IS SOLD IN California................. call the DMV.
No matter about a private sale, dealer sale, or mileage. The total sales price of the car X 8%.
No matter about a private sale, dealer sale, or mileage. The total sales price of the car X 8%.
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08-22-2001, 10:58 AM
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The DMV charges sales tax based on the "Bill of Sale" from the seller to the buyer. If no bill of sale is provided to the DMV when re-titleing the car they look up a value, and charge sales tax.
Seller provides "Bill of Sale"
$30,000 X 8% = $2400
$20,000 X 8% = $1600, ........ and so on.
The "Bill of Sale" is the important factor.
Added benefit, is the DMV annual license fee is based on the "Bill of Sale" also, therefore the license fee is lower as long as the person owns the car! License fees in CA are roughly 2% of selling price ( except for the last two years, when the CA budget surplus, caused the fees to be temporarly reduced ).
Seller provides "Bill of Sale"
$30,000 X 8% = $2400
$20,000 X 8% = $1600, ........ and so on.
The "Bill of Sale" is the important factor.
Added benefit, is the DMV annual license fee is based on the "Bill of Sale" also, therefore the license fee is lower as long as the person owns the car! License fees in CA are roughly 2% of selling price ( except for the last two years, when the CA budget surplus, caused the fees to be temporarly reduced ).
08-22-2001, 11:18 AM
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You must do this within reason. A late model car at has too low a price, then the DMV has another form which must be filled out by the seller & buyer to explain the low sell price, ..... like no engine, wrecked, etc. ............ but this could then end up as a "salvage title" (no good).
Forget all this stuff about a "gift" ..... it has nothing to do with the DMV. The buyer of a car has only to (1) provide DMV with signed off title to car by seller, (2) Bill of Sale & (3) proof of a smog check. Buyer pays Sales tax & license fee to DMV, and new title & registration come in the mail. ( license fee is not collected if the current registration has over 4 months remaining on the annual license fee).
Forget all this stuff about a "gift" ..... it has nothing to do with the DMV. The buyer of a car has only to (1) provide DMV with signed off title to car by seller, (2) Bill of Sale & (3) proof of a smog check. Buyer pays Sales tax & license fee to DMV, and new title & registration come in the mail. ( license fee is not collected if the current registration has over 4 months remaining on the annual license fee).