Selling a car can be done through a couple of different routes. Sales tax is charged every time a vehicle is bought or sold regardless of sales tax paid by a previous buyer. You would come to an agreement for the purchase price of the vehicle with the private seller, and when the payment is made, the seller will sign the title of the vehicle into your name. This changes when purchasing a vehicle from a private seller. The car dealer will calculate the taxes and title fees into a total amount that you will pay for the vehicle, and the title work will be completed for you. When buying from a car dealer, the transaction is fairly simple. These are two different types of transactions when it comes to paying the sales tax.
If you are buying or selling a car for the first time, you may be unaware of how taxes are paid for this type of transaction.īuying a car may be done through a car dealer or from a private seller.
Buying a car or any other motor vehicle is a taxable transaction. Many teens are always on the go and require their own method of transportation.
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