Question re Titling a 911 I just purchased

RetroSC · 12-16-2011, 11:22 AM

So on a whim I bought a nice 73 Targa, now I'm having second thoughts about keeping it... i.e. do I really need 3 911's??

That said, is it illegal to not title it and just sell it with the current signed title? Offhand it seems shady to me, but man, do I really have to pay $2K in sales tax to own a car for a few weeks?

Thanks,
Bill

strupgolf · 12-16-2011, 11:26 AM

Did the seller sign the title over to you? I see no problem selling it to the next buyer because as far as the BMV knows, you never exisited. If a buyer buys it, just hand them the title like the ex owner did with you. Just my 2c Plus, in Indaina, you can put any selling amount on the title, say $2000, and you would pay tax on that amount. We dont go by blue book value.

Gogar · 12-16-2011, 11:36 AM

If the seller signed AND DATED the title, then I think there is some kind of time window before it must be re-titled (by someone, you or the new guy.) So, if you haven't re-sold within that date, you may have to title it yourself. In Colorado it's 60 days.

Rot 911 · 12-16-2011, 11:58 AM

In Missouri you have 30 days to register a car after you buy it. If you wait more than 30 days and sell the car to someone else, they are going to get stuck with the late fees.

McLovin · 12-16-2011, 01:40 PM

I'm sure it varies from state to state.

But, in the ones I know of, that would technically be illegal. You bought the car, and you owe the state the sales tax.

But it's done all the time.

Most state titles have spots to put in the buyer's name, address, etc. on the title when it is signed over. If the seller does that, as he is supposed to, you really can't "skip" over yourself in a sale.

But if the seller left the "buyer" information blank, you could get away with it.

I suppose if you sell the car, your buyer might be a little nervous with the fact that you are the seller, but it's not your name on the title, though. It would give me some pause.

Zeke · 12-16-2011, 01:46 PM

It cost me $1000 on a 356. I was able to talk the DMV out of the penalties which were not insignificant.

McLovin, the people who do this regularly don't say exactly who they are, they just show the title and say they've already signed it. Maybe I should, but I've never asked a seller for his ID. And I've never been asked for mine either. Lots of cars sold from other places than the address listed on the title, so that's not an issue either.

Like Pomona. When you take a car there, you better have a ride home.

dmcummins · 12-16-2011, 03:06 PM

In Missouri the sellers are suppose to report to the DMV when they sell their car. Was the car titled in Missouri originally? I have sold a few recently and as a seller if you don't report it, you could be looking at a fine. I guess they are going after the sales tax.

But if he didn't date or put your name on the title, or get your info, who's to know.

McLovin · 12-16-2011, 04:57 PM

Quote:

Originally Posted by Zeke

McLovin, the people who do this regularly don't say exactly who they are, they just show the title and say they've already signed it. Maybe I should, but I've never asked a seller for his ID. And I've never been asked for mine either. Lots of cars sold from other places than the address listed on the title, so that's not an issue either.

I always ask the seller for his name, right up front. I also always ask the seller if he has clean title, registered in his name. I also ask how long they have owned the car. I ask those in the first few minutes of discussion. I have a few decades of experience with used cars, but those seem like basic questions anyone should ask.

These days, I also Google the name to see what's out there.

If the transaction is done, true, I guess I don't ask for ID. But while some deals are all cash, most involve a cashier's or bank check. Has to be made out to the seller's name.

It would be pretty ballsy for someone to say "Yes" to the question "Do you have clean title in your name." (I don't doubt some would do it, though). They would also likely be tripped up by the "how long have you owned it" question, since they have only "owned" it a short time and probably don't know offhand how long the previous owner (the name on the title) did.

onewhippedpuppy · 12-16-2011, 06:38 PM

In KS you have to title a car within 30 days of the sale or you pay penalties, so if the title is dated you're hosed. Technically it is illlegal, but it is done all the time. You may have issues selling it though, having a signed title with someone else's name on it just screams shady. The nicer and more expensive the car the cleaner a buyer is going to expect the title history to be.

RetroSC · 12-16-2011, 07:04 PM

Thanks for all the replies, sort of as I expected that it's probaly done all the time. The title isn't dated, but I really don't want to deal with explaining to a buyer why it's not titled in my name, so I'll just pay the taxes and be legal and such.

Who knows.. it's a targa so maybe I need to wait until nice targa weather and see if I like it better.

LeeH · 12-17-2011, 06:10 AM

Sell it on ebay. Chances are it will go to Europe and the buyer's not going to care whose name is on the title.

944Larry · 944Larry's Garage

Quote:

Originally Posted by LeeH

Sell it on ebay. Chances are it will go to Europe and the buyer's not going to care whose name is on the title.

or Nigeria!!!