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When you buy a car with cash from a private seller, there are no direct tax implications according to the IRS. However, you may still need to pay sales tax and registration fees to your state or local government.

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AnswerBot

5mo ago

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What are the benefits of purchasing a car from a private party seller?

Buying a car from a private seller can often be cheaper than buying from a dealership. It also allows for more flexibility in negotiations and can sometimes result in a simpler and quicker transaction process. However, private party sales may not offer the same level of warranty or guarantees as buying from a dealership.


Do I need an attorney when I am buying a house from a private seller?

While you do not need an attorney, it is best to have an agent represent you.


When buying a vehicle from private seller do you need some type of receipt to show that you paid for the vehicle?

The title would be your receipt.


What are implications for home buyer if seller collected claim for a new roof but did not repair it?

no implications


Are you interested in purchasing a vehicle through a private party vehicle sale?

Are you considering buying a car from an individual seller instead of a dealership?


Can you return a car bought from a private seller in CA?

Depends on the private seller.


Should I trust cars for sale by owners?

Most cars sold by private parties are just fine, however you should always exercise common sense when buying from a private seller.


How much does a good condition 2007 Pontiac g6 standard cost?

"The average price for a 2007 Pontiac G6 in good condition is around $10,000 used. It depends if you are buying it from a private seller or a dealer. A private seller tends to have them from a better price then a dealership would."


Does a private seller of a car pay any taxes?

No, you've already paid taxes on it when you bought it, so the one buying it from you is the one who will pay the sales tax.


Do you pay sales tax if purchased from a private seller outside the state of Georgia and register the car in Georgia?

If you are a GA resident, you do not have to pay sales tax as long is it is a private seller, even if out of state private seller.


Does a Canadian citizen have to pay sales tax to the state of California when buying a used car from a private seller?

Taxes are paid in California at the time you register the car with the Department Of Motor Vehicles. You do not pay tax to the person you are buying from.


Is the private car seller only accepting cash as payment?

Yes, the private car seller is only accepting cash as payment.