FS: 2014 GTR Black Edition 70k
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FS: 2014 GTR Black Edition 18k miles $69.9k
Year: 2014
Make: Nissan
Model: GT-R
Price: $69900
Mileage: 18250
Color: Grey
Private or Dealer Listing: Private Listing
Location (State): OH
Transmission: Automatic
Drivetrain: 4WD & AWD
Last edited by nismopete; Oct 14, 2017 at 09:24 AM.
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General question regarding trades. I see people interested in trades all the time, and I’m assuming it’s for tax reasons but am wondering about the logistics of such a deal. I assume both sellers put $0 for the sale price to eliminate taxes? Just curious. And beautiful BS.
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Thanks, I like to think so
Honestly not sure but I would assume it would be something like that, if anyone would like to chime in I’d be interested to know.
General question regarding trades. I see people interested in trades all the time, and I’m assuming it’s for tax reasons but am wondering about the logistics of such a deal. I assume both sellers put $0 for the sale price to eliminate taxes? Just curious. And beautiful BS.
Last edited by nismopete; Oct 11, 2017 at 01:03 PM.
If two buyers want to trade their cars to each other, best thing is to confirm with each locality's DMV on process BUT I've found in most states that the financially beneficial approach is to "donate" the cars to each other. Otherwise, a straight $0 bill of sale might trigger your title agency/dmv to just do a KBB lookup and you'll end up paying a bunch of taxes.
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Sales tax in Texas is paid on the actual price or 80% of the Standard Presumptive Value or whichever is the higher amount at 6.25%. If I buy the GTR for $0 and the appraisal price is $65,000, I would be paying $4062.5 in tax from the $65,000. The lowest we pay is the appraisal price that has a list of prices a car should be worth. I was stupid enough to list a car over the appraisal price and had to pay even more taxes. I won't be doing that again...