Quote:
Originally Posted by techweenie
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.
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uh huh, but in those states a skipped title is often illegal. If you want to broker cars get a dealer's license in your state and do it within the law. If you don't have dominion and control over the title to something don't sell it, simple as that. If you want to flip a car get the title in your name and pay the state taxes. Just as you would when flipping a house without a broker's license. Your State may only allow you to do a few a year without the proper license. Very good reasons for that, contact your local dealer's association and they will tell you why.
I have had flipper scum ask me not to sign a title when selling them a car and I always just smile and yell them nope. I pay taxes, lots of em and when someone wants to dodge them I rather not deal with them. Not once has the deal gone South.
B