looking at buying a used car, pirvate party. questions about sales tax
02-22-2007, 11:32 AM
#1
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looking at buying a used car, pirvate party. questions about sales tax
Hi,
I'm looking ay purchasing a car for my wife. we'll be paying in japanese yen from out account in japan to the seller's account in japan.
I havne't bought a used car in the US from a private party before, and I was wondering how the sales tax works. Is it basically I pay the DMV sales tax on the amount that the seller "claims" the car was sold for on the title? what if there's a large difference between bluebook value and the sale value?
Thanks
I'm looking ay purchasing a car for my wife. we'll be paying in japanese yen from out account in japan to the seller's account in japan.
I havne't bought a used car in the US from a private party before, and I was wondering how the sales tax works. Is it basically I pay the DMV sales tax on the amount that the seller "claims" the car was sold for on the title? what if there's a large difference between bluebook value and the sale value?
Thanks
02-22-2007, 09:02 PM
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Assuming you wish to register the car in CA, it's really not that bad.
Just buy the car, convert the sale amount to usd. Report that to DMV when you bring in the title to transfer and get plates/tags. I bought my s4 for $19k, and the total bill (use/sales tax), transfer and reg fees were $840. I was shocked, since I did this right after buying another used car from a dealer and paying full 8.5% sales tax on that. This was 10/05. YMMV.
Chris
Chris
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