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Can you sell a car for $1? In short, yes. But while selling a car for $1 will allow you to avoid capital gains and gifts taxes, the recipient of the car will have to pay whatever rate of sales tax your state charges on used vehicles when they transfer the title. Gifting a Car: 5 Steps You Should Know fbfs.com learning-center 5-things-to-kno fbfs.com learning-center 5-things-to-kno
If you do not qualify for a gift tax exemption, please provide a proof of purchase price, such as a buyers order, bill of sale or the sellers declared sale price. The bill of sale can be a handwritten statement signed by the seller and purchaser or a Vehicle Price Certification signed by the seller or purchaser. Buying/Selling a Vehicle - Virginia Department of Motor Vehicles Virginia Department of Motor Vehicles (.gov) vehicles buy-sell Virginia Department of Motor Vehicles (.gov) vehicles buy-sell
The Most Common SUT Exemption If you are titling your vehicle in Virginia for the first time and you hold a valid title or registration in your name by another state or a branch of the United States Armed Forces, you will not have to pay the SUT.
Virginia does not require a bill of sale to transfer ownership of a vehicle unless the purchase price cannot be listed on the original title. Purchase price documentation is an important step in documenting ownership transfer.
Many sellers and buyers docHub the Bill of Sale. If the vehicle is 5 years old or less and the sales price is more than $1,500 below the Blue Book trade-in value, youll need to fill out an Affidavit of Vehicle Purchase Price, form SUT 1A. This form must be docHubd.

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To apply for a vehicle title transfer in Virginia, you need: A vehicle safety inspection sticker. The VA vehicle title. Odometer reading. Proof of the vehicles sales price (bill of sale or vehicle price certificate) If applicable, the transfer of certificate of title with lien (form SUT 4) How to Transfer a Car Title in Virginia - PrivateAuto privateauto.com blog how-to-transfer-a-car-titl privateauto.com blog how-to-transfer-a-car-titl
A $15 titling fee. A fee sales and use tax starting at $75 and up, based on the cars sale price. A Virginia registration fee between $30.75 to $35.75 for passenger vehicles.
The bill of sale should contain identifying information about the buyer and the seller, a description of the vehicle, and the terms of the purchase. Free Virginia Motor Vehicle Bill of Sale Form - PDF - eForms eForms Bill of Sale Virginia eForms Bill of Sale Virginia

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