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Anyone bought and sold cars?

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  • #1

    Anyone bought and sold cars?

    My wife and I are looking for a new car and arent sure what exactly we want yet. However one of the models we found is for sale and a really good deal. The seller just wants his payoff so the difference and potential profit is around 5k.

    My idea is that Id like to buy the car from him and resell it. However theres no need for me to register the car in my name since im reselling it. I think if i registered it I would have to pay the taxes and all that. But the buyer who I sell it to would pay the taxes also?

    How do you do this? I dont wanna scam anything but if I had to pay taxes for buying it that would be expensive.
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  • #2
    Originally posted by houstondallas View Post
    My wife and I are looking for a new car and arent sure what exactly we want yet. However one of the models we found is for sale and a really good deal. The seller just wants his payoff so the difference and potential profit is around 5k.

    My idea is that Id like to buy the car from him and resell it. However theres no need for me to register the car in my name since im reselling it. I think if i registered it I would have to pay the taxes and all that. But the buyer who I sell it to would pay the taxes also?

    How do you do this? I dont wanna scam anything but if I had to pay taxes for buying it that would be expensive.
    If you can pay cash for it outright and get the title, then no you don't have to transfer it. Open titles are completely legal in Texas. The person that registers it has to pay the taxes on it.

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    • #3
      Originally posted by houstondallas View Post
      My wife and I are looking for a new car and arent sure what exactly we want yet. However one of the models we found is for sale and a really good deal. The seller just wants his payoff so the difference and potential profit is around 5k.

      My idea is that Id like to buy the car from him and resell it. However theres no need for me to register the car in my name since im reselling it. I think if i registered it I would have to pay the taxes and all that. But the buyer who I sell it to would pay the taxes also?

      How do you do this? I dont wanna scam anything but if I had to pay taxes for buying it that would be expensive.
      I believe if the sole intent is to profit from then it requires a license to buy and sell vehicles. I found that to be true in a few states as I had the some inquiry as you did, but didn't find anything for Texas, so like I said, that is an assumption. I don't know what the repercussions are or how you would get cought but that is up to you. Plenty of people do it and I personally dislike it. I just sold my bike maybe a month or so ago and the guy hasn't registered it yet......
      Originally posted by Cmarsh93z
      Don't Fuck with DFWmustangs...the most powerfull gang I have ever been a member of.

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      • #4
        Originally posted by JC316 View Post
        If you can pay cash for it outright and get the title, then no you don't have to transfer it. Open titles are completely legal in Texas. The person that registers it has to pay the taxes on it.
        Uhhhh I think there is a law against this. Curbstoning or some weird name like that. However it is not un common.
        Whos your Daddy?

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        • #5
          Originally posted by kingjason View Post
          Uhhhh I think there is a law against this. Curbstoning or some weird name like that. However it is not un common.
          I thought it was called curbing...

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          • #6
            Personally I think it is bullshit paying taxes on a car everytime it is sold. Hell what if a car is sold 3 times in a year. I do mine just because I hate people that dont have a title in their name. Plus most of these douches dont have the U-130 signed either so then they gotta go get that.
            Whos your Daddy?

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            • #7
              Originally posted by kingjason View Post
              Personally I think it is bullshit paying taxes on a car everytime it is sold. Hell what if a car is sold 3 times in a year. I do mine just because I hate people that dont have a title in their name. Plus most of these douches dont have the U-130 signed either so then they gotta go get that.
              This ^. Do the buyer a favor and register it in your name

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              • #8
                Lol
                Originally posted by Cmarsh93z
                Don't Fuck with DFWmustangs...the most powerfull gang I have ever been a member of.

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                • #9
                  Every once in awhile.

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                  • #10
                    Originally posted by kingjason View Post
                    Uhhhh I think there is a law against this. Curbstoning or some weird name like that. However it is not un common.
                    Originally posted by Pro88LX View Post
                    I thought it was called curbing...
                    No, curbstoning is doing it all the time and it's not a state/federal law, it's a city law. The only thing they can get you for is tax evasion, which if you report it on the income tax, really isn't a problem.

                    The main things for curbstoning is a car dealership selling cars from a place other than their dealership, or someone that is doing it ALL the time.

                    Read here for more info.
                    http://curbstoppers.com/

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