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my dad rocks - when you don't know what to do...
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my dad rocks
My dad bought a new car recently to replace his Chevy S-10 that he's been wanting to get rid of for a while. He didn't trade in the Chevy, though; he's hanging onto it till he and Mom finish moving (while they are hiring movers for the heavy stuff, the truck will come in handy for transporting smaller boxes that are already packed and need to get out of the way). I asked what he planned to do with it, and he didn't really have any plans for it, so I offered to buy it.

He said he'd give it to me for a buck, so we can execute a bill of sale.

It's rusting out, and he says it's not worth fixing, but it'll get me through a year or two, and it's a second truck for us, which is nice. Plus, Free! And the tax on a dollar in Massachusetts is only five cents, which... I have! So yay, free truck! My dad rocks.

i feel: happy happy

5 trips or shoot the rapids
booniesjen From: booniesjen Date: November 4th, 2006 02:34 am (UTC) (base camp)
Yay! :)
parsedgarnish From: parsedgarnish Date: November 4th, 2006 02:38 am (UTC) (base camp)
Do you have to buy it? In CT, we can just tranfer ownership within family. We are also forced to pay sales taxes on the blue-book value, not sale price (or maybe which ever is higher...) so it may just be a different system...

But - "Yay! Truck!" all the same. :)
tashabear From: tashabear Date: November 4th, 2006 02:44 am (UTC) (base camp)
Well, he did the same thing when he bought a car from my cousin Adam, so I'm just going to go with it. if they charge me tax on the blue book, it still won't be that much.
jdulac From: jdulac Date: November 4th, 2006 02:42 am (UTC) (base camp)
you don't actually want to do it this way, because you have to pay sales tax on the blue book value of the car in Mass. However, you can transfer it as a gift between family members and not have to pay any tax. There is a form to fill out, which your Dad should sign -- there is probably a copy of it on the RMV website.
tashabear From: tashabear Date: November 4th, 2006 02:51 am (UTC) (base camp)
Ah, you are correct. He couldn't transfer the car with my cousin because he's not immediate family, and the car was being junked, anyway. I found the relevant page on the RMV site, thanks!
5 trips or shoot the rapids