Any tips for transfering title in TX??

[Kruso]

Looking into purchasing a project car, its almost two decades old. Any tips on transferring the title? $600 is kind of a steep price to pay for transferring a vehicle that's 18 yrs old. Lady at the DMV stated its some sort of a semi new law to have to pay the book value on the vehicle. Anyone transfer a vehicle recently?

 

[SamSter0077]

Looking into purchasing a project car, its almost two decades old. Any tips on transferring the title? $600 is kind of a steep price to pay for transferring a vehicle that's 18 yrs old. Lady at the DMV stated its some sort of a semi new law to have to pay the book value on the vehicle. Anyone transfer a vehicle recently?

Yeah, you just pay tax on the Book Value if your purshasing price was under the figure. 7.25%, not a big deal.

 

[drew02a]

Keep in mind that you need to fill out for 130-u in addition to filling out the back of the title.

If you do, you can write in the sale price and pay taxes on that instead. For the Dilux and 4Runner it came out to less than $200.

 

[chris360hawks]

http://www.txdmv.gov/vehicles/titles/std_presumptive_value.htm

You might be able to put it as a gift or something if it's a project car.