How to buy a car from an individual

[Guest db99wj]

Haven't gone through an individual since I bought my 89Jeep YJ in 1993.

I know what to do on insurance.

Title, there is a place to sign, then send for new title, wait on new title. Anything else?

License Plates? I like my license plate, how do I transfer, get his taken off, etc.

Anything else?

[TripleDigitRide]

Get a Bill of Sale and Title. Go to County Clerks Office to transfer everything into your name. Vey, very easy.

Remember, you will pay taxes on the purchase price. This will be paid at the Clerks Office.

[Guest db99wj]

Get a Bill of Sale and Title. Go to County Clerks Office to transfer everything into your name. Vey, very easy.

Remember, you will pay taxes on the purchase price. This will be paid at the Clerks Office.

Great. Taxes, anybody know what they are on car purchase?

Our tax on merchandise here in Memphis is 9.25%.

[TripleDigitRide]

Great. Taxes, anybody know what they are on car purchase?

Our tax on merchandise here in Memphis is 9.25%.

It's the same on a vehicle.

[Guest db99wj]

It's the same on a vehicle.

Well I'm going on record and saying "Ouch and that sucks"!

[Guest db99wj]

Purchase price is the price on the Bill of Sale, not the loan amount..right..

[TripleDigitRide]

Purchase price is the price on the Bill of Sale, not the loan amount..right..

Correct! There is a section for the purchase price on the title, too. Correct?

[Guest Fenris]

He takes his plate. You pay $12.50 to transfer your plate to the new vehicle.

[Guest abailey362]

yeah, the plate is always property of the individual, not the car.

remember that the price on the bill of sale is what you pay 9.25 of.

alabama is great, as you don't pay those kinds of sale taxes on cars...why i bought and registered my trailblazer down there (put my mom on the title who is an alabama resident so it was legal) and later transferred it to TN. Saved me almost $2k

[Guest billwilly73]

But you ONLY paid $500 bucks, right????

[Guest eyebedam]

But you ONLY paid $500 bucks, right????

If its a newer car I wouldnt go that cheap. It would def be about half though. Just have them leave the purchase price on the title blank.

[Guest db99wj]

Looking at a 2008. Can't go nuts, but the price is negotiable...

[Guest GhostHunter]

And you don't pay that sales tax if the guy you bought it from is your brother or an in-law.

[Guest GhostHunter]

If the purchase price listed on the Bill of Sale and the title is reasonable, they usually won't question it. But if you say you only gave $200 for a 2006 Eddie Bauer Explorer, they they are going to bring out the Blue Book.

[Guest gunslinger707]

In Sullivan County if they think you're lowballing the purchase price they will go to the blue book price for the year and model of the

vehicle and tax you accordingly !!!

[MudBugjr]

If thats the case goto the web site print off a vehicle transfer paper have the seller sign it and you sign it. Then they can't question it. can't remember exactly what the paper is called. i've done this on my last two. If it is much under blue book its worth the time. as long as the seller is on board. You can put and excuse like high mileage wrecked or in need of repair fro the reason. Call the county clerk and they will tell you where to print it off.

[kckndrgn]

You need to use this affidavit if you claim a gift or "low price" on a vehicle or boat transfer in TN.

http://state.tn.us/revenue/forms/sales/f1301201.pdf

I've used this once in getting my dads boat, and will be using in June when I take possession of my dads truck from my mom. I am not paying anything for the truck and I wont be taxed the blue book value when using this form.

[Guest abailey362]

also the tax is on the difference in a trade...same as guns. maybe you "trade" soemthing you own and then buy that something (that doesn't have to be registered or taxed) right back from em

[MudBugjr]

I thought it was an affidavit just wasn't for sure.