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If any of you see a Miata with a hard top for sale, let me know. I want to buy it for $4,000 or less and prefer a black car. I'm wanting to flip it and keep the hard top.
I did see the auto tranny black one on CL and emailed the guy but haven't heard back.
Did you see my thread on presumptive value? ;)Quote:
Originally Posted by black roadster
Flipping cars you could get stung unless your a dealer. :punchout:
Make sure you input the VIN and miles to see what your tax liability will be... unless he gifts it to you. ;)
It would probably be easier to buy the hardtop of the auto Miata.
Well...he does have 20 working days in which to transfer the title over to his name.:rolleyes: After which there is a $25 penalty and $25 per month afterwards.
If you resell it withing the 20 days, do you need to transfer the title to your name? ;)Quote:
Originally Posted by cam76034
Owner sells to you, you immediately resell it to someone else. Let them pay the taxes.
I knew a guy that had a tote the note business on the side. He would buy a junker, get it to the point it was running and lease-to-own it to a poor shmuck. In the State of Texas you can only sell so many vehicles without a dealers license and to get a dealers license you need a minimum sized car lot.
He didn't have a car lot and thus didn't have a dealers license. To get around this when he bought a car, he never transfered the title to himself. When the person paid off the note, he just handed them the title signed by the previous owner. Shady, sure but he was a vehicular slum lord.
Sounds like the 20 day transfer limit tries to keep this from happening.
I'm sure the State of Texas expects you to do the title transfer and appropriate payment of sales tax even if you resell it within 24 hours...and yes, this is the reason for the 20 day rule.Quote:
Originally Posted by black roadster
However, unless the previous owner puts a date on the back of the title when he hands it over to you then theoretically one could wait until the expiration date reflected on the window sticker.
I did say theoretically, didn't I?