TaylorMutts
1500sp
Life is Good
Posts: 330
Joined: Jun 27, 2008 7:18:48 GMT -5
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Post by TaylorMutts on Jul 22, 2010 15:18:45 GMT -5
As I look at Craigslist ads, I notice that many folks advertise that they are willing to trade for another vehicle. In Michigan, does trading vehicles with someone avoid the payment of sales tax when you go to title and register the car? Does anyone have any experience with this one?
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teamafx
1600dp
I am in group #1
Posts: 1,341
Joined: May 29, 2010 15:33:28 GMT -5
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Post by teamafx on Jul 22, 2010 16:01:16 GMT -5
I found out you still have to pay ALL of the tax even if you traded. Also a FREE car will go on what its value not what you paid for it. Not sure how they can tell what something is worth, but if it will get money out of your pocket and into theirs they will.
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dave
1500sp
Posts: 222
Joined: Jul 28, 2008 20:41:35 GMT -5
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Post by dave on Jul 23, 2010 4:34:44 GMT -5
I found out you still have to pay ALL of the tax even if you traded. Also a FREE car will go on what its value not what you paid for it. Not sure how they can tell what something is worth, but if it will get money out of your pocket and into theirs they will. I was told that you would have to bring in an appraisal or they would go off of the blue book value. Back in the day we traded many a $50 cars  |
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dansam
1600dp
Posts: 2,434
Joined: Oct 25, 2008 7:23:39 GMT -5
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Post by dansam on Jul 23, 2010 7:08:45 GMT -5
I traded my 64 dune buggy for Ally. No appraisel was done as we told the state that we bought each others veh for cash. 500.00 if I remember correctly. Its all in the purchase agreement written for each veh with a purchase price on it.
Dan
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