Do you guys know HOW to buy a used car?

SON240sx Automotive
1

Ie. Procedures on change of ownership…
paperwork we need to sign.

the legality of it all…
i’m buying my first 240SX tmr…i really need help!

kinda urgent really :stuck_out_tongue:

thanks all

2

used vehicle package… make sure their is no leans or anything on the car to make sure you can put it into your name… other then that the person you buy the car from has to sign the back of the owner ship and thats it… get a bill of sale as well

3

Info straight from the Ministry of Transport.

http://www.mto.gov.on.ca/english/dandv/vehicle/used.htm

4

Don’t tell them how much you paid for the vehicle if it is over teh blue blook value you can find out by calling in advance. It will save some cash on taxes for a foolish mistake. As well they screw you if you pay less becuase they use blue book to determine taxes.

Cheers

bryce

as well the seller has to supply the used vehicle package and make sure he signs the transfer of ownership

hope that helps

5

so what if i buy a car considerably lower than what its worth will they have any problems with that…like tax wise or something in that nature??

thanks in advance

6

If it is a newer car (I think it’s ten years and newer), they take the blue book value. If it is older, they use the reciept as the price you paid, so get the seller to make up two reciepts, one for $600 or something to give to the ministry, and get another for the proper amount if their are any future problems. Anyone friendly enough will do that for you. (hopefully)

Happy hunting, I hope you find a good one.

7

straight from the link cgguy posted (if you dont want to read through the whole thing, but reading is recommended since you’re buying a car).

Retail Sales Tax
When you buy a used vehicle privately, the retail sales tax you pay is based on the purchase price or the vehicle’s wholesale value, whichever is more. If the buyer paid less than the Canadian Red Book value and an appraisal supports a lower price because of the condition of the vehicle, tax is paid on the declared price or appraised value, whichever is higher. Any reduction in tax is available only when a completed appraisal is given to a licence issuer prior to changing ownership. If the transfer has been completed and tax has been paid on the average wholesale value, an appraisal must be sent in with an application for a refund to the Ministry of Finance.

Appraisal forms are available from Driver and Vehicle Licence Issuing offices and Ministry of Finance offices.