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Old 10-25-2009   #1 (permalink)
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title question

if you trade someone straight across what do you both put on the titles? i live in missouri if that has anything to do with it.
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Old 10-25-2009   #2 (permalink)
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Re: title question

The way Cali and North Dakota did it for me was to put the resale value of each vehicle down for tax purposes. Call your local DMV to verify you do it the way they require. That's really the only safe way.

Best of luck
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Old 10-25-2009   #3 (permalink)
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Re: title question

I think Missouri will ask value of both and go from there.
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Old 10-25-2009   #4 (permalink)
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Re: title question

When I traded my Mustang for the truck that I have now, we just did it like he bought mine, and I bought his. We never mentioned anything about a trade, or the extra cash that I got to boot.
He put down that I paid $1995 for the truck, and I did the same with the Stang.
Tax law in Arkansas is $2500 I believe, but it used to be $2000. So it saved both of us some money.
If you already pay enough money in taxes, do what I did.
If you think that the state can use your money wisely, then go ahead and give them the tax.
Of course this doesn't work on really new vehicles, but older ones they rarely question, and even if they do, it's your right to sell your car for whatever you want to. GOOD LUCK!
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