Question about trading vehicles

[Screw-Rice]

I know some of you guys, have done vehicle trades before. I have been talking to another Mark VIII guy in California about trading cars. I am in Colorado, and looked at the DMV website. Only thing I could find about swapping cars, was doing it as a gift, and doing a bill of sale as such. That is where the info I found stopped.

So for you guys that have done it before, do you just bring the bill of sale showing it was a gift, and put $0 under purchase price?

[Demontang]

I just told the lady at the counter here that I traded a rig for it. Id call and ask what you should do. Im sure every state looks at it different.

[Screw-Rice]

I found the requirements that Cali has to gift a vehicle. Colorado, not so much... Still doing some searching, but I think you're right. A call to the DMV might just be easier...even though I will be on hold for like an hour.

[hellfyr]

The other thing you have to watch out for is current determined resale value in the DMV books. Even if you declare you bought it for $1, you will be taxed on the sale based on current vehicle value in their book. This is so they get their "fair share" and you don't rig the actual sale value. They get you on this when you register the vehicle.

Have never done the 1 for 1 trade thing personally, but I can't imagine it would be much different, they want their "cut" of the "sale".

[Screw-Rice]

I have never done a trade deal either. Have been doing some research on the matter. Worse case, I know it will cost about $120 to register it here on my end.

[Demontang]

They didnt nail me on the fair value here, they just asked what I paid and I said that it was a trade with no money involved. They tried to get my friend on it when he bought a rangerover for 2k but the fair value was like 9k so he just got rid of it instead of paying the extra money.

[91gt347]

Here in MD, theres a minimum. If its a gift, or the purchase price is below the minimum you have to pay that amount anyway.