Quote:
Originally Posted by Unobtanium-inc
When it comes to jumping titles there are exceptions that make it much better for everyone. If you buy a car from a state that titles old cars or the title is old enough it make a lot of sense to hold onto that title if you live in a state that doesn't title old cars like NY, MA, CT, GA, etc. Most of these states will give you a registration card or tell you to sell it on a Bill of Sale, both of which can cause problems if you sell to someone in another state or a car that has to pass through customs.
It doesn't affect us, we are a licensed dealer so can re-assign a title, but for the average guys re-selling a car it makes a lot of sense to not put it in his name if he lives in one of the states listed above. A title is a title to a lot of people, they don't want to hear about the legality of Reg's or Bills of Sale.
---Adam
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In the past, I had a few instances where I flipped a car in 3-10 days and gave the buyer the option of my sale price or a higher price where I transferred the car to myself and paid sales tax on it. In no instance was a buyer in favor of paying more. I don't do that anymore, but I also tend to build 'em rather than flip. From a purely financial perspective, a skipped title can make sense in states where there's sales tax on used car sales.