Posted: 3/18/2011 4:03:05 AM EDT
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I bought a 97 Jeep GC last year and when I bought it there was a tear off spot on the title to send in for the seller, well the new title they had issued doesn't have that tear off section. Is this a problem? I bought it as a fun toy but since it's an extra car I'm selling to get some cash up.
Also, anyone know if trading guns for a car is an issue? 
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It's a taxation issue, for them.  In the good ol' days, the seller would sign the title and the buyer could then title it whenever they mustered the Governor's fees. Now the seller must "notify" the State of the date of sale, via the "tear off", and then the buyer will start getting hit with late fees if they do not immediately (30 days IIRC) "register" the car with the State. It's all about Mo Money for The Governor. ETA: Trading any items for the vehicle is not a legal issue. Although when the buyer goes to tell The Governor what he paid for the car, so "they" can determine how much tax he owes (tell me again how it is legal to keep taxing the same item over and over and over again?), The Governor might have an issue. I know when purchasing a new vehicle one can deduct the value of their trade-in from the sale price of the new vehicle in order to reduce their sales tax liability to The Governor. One would assume (hope) that this also applies to used and privately-sold vehicles as well. And one would assume that the trade value (of whatever items) could exactly equal the value of the new acquisition, thereby resulting in a net "sale" of $0, which should equal $0 in sales tax liability. |
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In November of last year I sold my AUDI and it also did not have a slip at the bottom. I was told by the DMV that I should just send or drop of a copy of the Sales receipt which should indicate the date and the amount of the sale.
Than you also have to make sure that you notify the place where you pay your personal property tax. The f.... up thing is that if you sell it now you still owe the full amount of personal property tax for this year - Missouri is a state that does not pro rate. Which in my opinion is just another way to fleece you. |
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Quoted:
I bought a 97 Jeep GC last year and when I bought it there was a tear off spot on the title to send in for the seller, well the new title they had issued doesn't have that tear off section. Is this a problem? I bought it as a fun toy but since it's an extra car I'm selling to get some cash up. Also, anyone know if trading guns for a car is an issue? Out of curiosity, what do you want for it? |
Piece of shit.
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It KBBs at $3,330 for FAIR value, and it's got a few bumps and scratches, it has 198,xxx on it with a good chunk being towed behind an RV, it's a Limited and has moon roof, running boards, tow pkg, etc. I could use the money and it's a third car. Clean title too
I've got it listed on Craigs List btw, with pictures 
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You can download any forms & print them up from here:
Dept. of Revenue |