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Old 07-02-2012, 08:00 PM
 
Location: Charlotte
74 posts, read 122,081 times
Reputation: 36

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I'm buying a car from a private owner. My understanding of the transfer process is that the questions on the back (mileage, damage, etc.) of the title are answered by the owner. Then both of our signatures are notarized. I'm hoping to do this at an SECU branch, so the cashiers check can be given to the original owner after the notarization.

Does the original owner then take the tag? Can I drive it home without a tag on the back?

I don't think I need a bill of sale per the DMV site because they calculate the Highway Use Tax based on what they think the value of the vehicle is...no matter if I paid lower, I guess??

Am I missing anything in my understanding?

Thanks to anyone who can help me!
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Old 07-09-2012, 09:39 AM
 
7 posts, read 9,442 times
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I just transferred tile of my car to a buyer. We went to the DMV, filled out the back of the title (must be the original).

You can apply for a new license plate at the same time that you change the title and register the car. If you have a local and current license plate, the DMV can transfer it to the new vehicle. I believe the buyer must have it inspected again. I believe that's what the person behind the counter told the buyer of my car, even though it had undergone and passed inspection just a month before it was sold. Many of your questions may be answered at this website:

[url=http://www.ncdot.gov/dmv/]NCDOT: Division of Motor Vehicles[/url]

Or you can call NCDMV at the state headquarters: (919) 715-7000

I recommend that you call the state headquarters before you go to a local DMV office. Sometimes you get really bad answers from the local office. It took us three trips for us to change the title and for me to turn in my old plate.
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Old 07-09-2012, 11:38 AM
 
3,184 posts, read 6,527,206 times
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You can go to your bank with the title and seller and do the deal. Then you take the title to the DMV and register it . The tax is calculated and no bill of sale required. The seller takes his tag and you have several days before you must buy one as long as you have insurance on the car before you drive it.
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Old 07-09-2012, 12:32 PM
 
3,914 posts, read 4,382,494 times
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I might be wrong, but I believe the 3% NC Highway Use tax has to be paid again unless the transfer is to a child or parent. The one buying it owes the tax.
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Old 07-10-2012, 03:01 PM
 
Location: Charlotte
74 posts, read 122,081 times
Reputation: 36
Default finished!

I did end up buying the car I had my eye on. The entire transaction went way smoother than I thought. After getting a cashier's check from my bank, we had the bank notarize the back of the title. Supposedly that saved me the notarization fee since SECU did it for free. Next stop was the DMV. Since I did not have a plate to use and the car also needed an inspection this month, I was able to get a ten day trip permit for $5. Yes, the Highway Use Tax (HUT) is 3% and is calculated on a value assigned to the vehicle I bought. This value was less than the purchase price.

I've put new tires on the car, gotten it aligned and inspected. Today I went back to the DMV for my plate.

Now I'll be curious how my county values the car for personal property taxes. I did make out a bill of sale and have it notarized with the idea that this would show what was actually paid.

Thanks for the help. This board is the best!
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Old 07-10-2012, 03:55 PM
 
8,402 posts, read 22,236,890 times
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Quote:
Originally Posted by LoriColchester View Post
I did end up buying the car I had my eye on. The entire transaction went way smoother than I thought. After getting a cashier's check from my bank, we had the bank notarize the back of the title. Supposedly that saved me the notarization fee since SECU did it for free. Next stop was the DMV. Since I did not have a plate to use and the car also needed an inspection this month, I was able to get a ten day trip permit for $5. Yes, the Highway Use Tax (HUT) is 3% and is calculated on a value assigned to the vehicle I bought. This value was less than the purchase price.

I've put new tires on the car, gotten it aligned and inspected. Today I went back to the DMV for my plate.

Now I'll be curious how my county values the car for personal property taxes. I did make out a bill of sale and have it notarized with the idea that this would show what was actually paid.

Thanks for the help. This board is the best!
I've done this for every vehicle I've transacted. I sold a Waverunner last year, and apparently the new owner still hasn't registered it, because NC Wildlife still thinks I own it. NCDMV still thinks I own the trailer. I've twice sent them copies of the bill of sale, which is the only document I have that shows I sold it. We'll see how this turns out.
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Old 07-10-2012, 06:55 PM
 
3,184 posts, read 6,527,206 times
Reputation: 1818
Quote:
Originally Posted by LoriColchester View Post
I did end up buying the car I had my eye on. The entire transaction went way smoother than I thought. After getting a cashier's check from my bank, we had the bank notarize the back of the title. Supposedly that saved me the notarization fee since SECU did it for free. Next stop was the DMV. Since I did not have a plate to use and the car also needed an inspection this month, I was able to get a ten day trip permit for $5. Yes, the Highway Use Tax (HUT) is 3% and is calculated on a value assigned to the vehicle I bought. This value was less than the purchase price.

I've put new tires on the car, gotten it aligned and inspected. Today I went back to the DMV for my plate.

Now I'll be curious how my county values the car for personal property taxes. I did make out a bill of sale and have it notarized with the idea that this would show what was actually paid.

Thanks for the help. This board is the best!
The county will tax it at a value ABOVE the real market value of the car. same way they do our homes. Its a legal way to steal from us.My car has a tax value of 5100 and you can buy cars just like it all day long for 3 k...go figure
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Old 07-11-2012, 12:22 PM
 
Location: Charlotte
74 posts, read 122,081 times
Reputation: 36
Quote:
Originally Posted by crestliner View Post
The county will tax it at a value ABOVE the real market value of the car. same way they do our homes. Its a legal way to steal from us.My car has a tax value of 5100 and you can buy cars just like it all day long for 3 k...go figure
My gut feeling is that you are spot on.

I called the Gaston Co. tax department (where I live) to inquire if they used the same tables as what the Highway Use Tax values vehicles. Nope! Gaston Co. uses an aggregate market value for each vehicle. The woman I spoke with did say I could bring in my bill of sale to show I paid less. Now, does that mean they would take that value or say, "Thank you for showing us this...it makes no difference!" She didn't know what decisions had been made in the past.

As it is I will wait the four months for the tax bill to see what they think this vehicle is worth.
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