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Post by kiboater on Apr 6, 2012 9:33:43 GMT -4
So who would be responsible for the tax the owner that sold it to the dealer? and would the tax be for what the dealer sold it for or what the original sale price to the dealer was? assuming the dealer was a dealer for a reason "to make a profit" Sales and income is easy if you make X profit it is taxed at X%. If you don't pay tax of X% of the income that's cheating. Has anyone sold a vehicle filled out the title for way less then it was worth and still didn't pay tax on the income? Maybe there are some hypocrites out there, maybe. Sale tax is only due when a vehicle is delivered to the retail purchaser and titled. Income tax is due when there is a profit from the sale. If you trade in a car or sell one to anyone there is no sales tax collected. If dealers sell the car to another dealer there is no sales tax. When it is eventually sold to the ultimate purchaser then sales tax is due on the sale price and collected when a new title is issued. Income tax is due whenever there is a profit. If the dealer who bought the car sells it to anyone for a profit then he has to report this on his tax return. Sales tax is only due when the vehicle is sold to the ultimate user and titled.
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Post by freefallin on Apr 6, 2012 9:56:38 GMT -4
and you don't pay tax on the profit per vehicle. That sales transaction is just one of many transactions in that business over the course of a year. You pay the income tax on the total annual profit after all the recorded expenses. Proft on the sale on one vehicle may susidize the loss on another or subsidize the operating expenses. If not enough vehicles are sold in a year and expenses exceed any profits, then there is a loss and no tax due. Nothing from nothing is actually still nothing with taxes........sometimes....
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Post by bchevy on Apr 6, 2012 20:47:43 GMT -4
Has anyone sold a vehicle filled out the title for way less then it was worth and still didn't pay tax on the income? Maybe there are some hypocrites out there, maybe. FYI: You don't fill out the title for what it's worth, you fill it out for the sale price. No income involved, it's a sales tax on the purchase price.
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alice
New Member
Posts: 20
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Post by alice on Apr 10, 2012 16:20:05 GMT -4
Meant sold for (post modified)
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Post by badsupra101 on Apr 17, 2012 9:50:26 GMT -4
I cant believe that this place is allowed to stay open after all of the bullcrap they pull, First of all the cars are bought at auction (most were taken there for good reason) and then just cleaned before being listed for sale. They list cars for $1000 or $2200 "inspected" and similar prices, but what they dont tell you is they will only fix the most obvious things...After a neighbor of mine had purchased a car from lowes "inspected" he had it at a shop where the owner told him his tires and tag light wouldnt pass....after quickly inspecting the car the mechanic realized over $1,000 worth of issues....some more urgent then others.
This is just one case though, an elderly woman from cloverfields bought an 04ish caddilac from them a few months ago, after a few weeks of an 80yo woman driving this car the headgasket blows...she is out the car now and Lowes wont respond to her.
Hopefully this post will save some peoplea bit of aggrivation.
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Post by harley on Apr 17, 2012 10:01:35 GMT -4
I have heard a story like this before about how they deal with people.
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Post by alanr on Apr 17, 2012 10:22:18 GMT -4
As someone that has been in the industry for over 30 years, I can tell you that most new car dealers buy there cars from auctions. There is now way they get enough clean trades. The junk trades are then sold at auctions for the low end used car dealer's that sell the high mileage cars. When your talking $7,000 or under cars your always talking 100K plus mileage cars. When your talking $2,000 cars your talk JUNK!. Buyer beware. The state allows the dealers to sell as is when the cars are over 6 years old and have over 60K on them. They still need state inspection. You get what you pay for with a $2,000 car, NOT MUCH. If he feels the car should not have passed state inspection, he needs to file a complaint with the State Police right away before he puts miles on it. They will reinspect the car and match there findings up with what the other inspector did. Trust me they don't take funny inspections lightly. I check out a lot of cars for friends and always tell them your rolling the dice with a car under $5,000. There will always be a need for cheap cars and that's what you get a car that will run for how long is a guess. You can't expect not to have problems. Either way, brakes, tires lights have the same pass or fail check list as a car with 100 miles or 100K miles
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Post by cranky64 on Apr 17, 2012 11:27:41 GMT -4
Go after the inspection station. The sticker will have them listed, contact them and tell them that you’re going to call the MSP. The should correct the issue for you. They covet the inspection license and would hate to see it revoked. After all they are the ones that ether flat out sold the sticker or inspected the car in the first place. Who is listed as the inspection station? www.dsd.state.md.us/comar/comarhtml/11/11.14.01.10.htm
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Post by deputy on Apr 17, 2012 11:37:53 GMT -4
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Post by jetskibrat on Apr 17, 2012 15:43:40 GMT -4
This is another great reason for KI online keeps us informed THANKS
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Post by dwnthehatch on Apr 26, 2012 14:33:02 GMT -4
Doesn't the Lemon Law apply to Used cars? No, Maryland's Lemon Law applies to new or leased motor vehicles (including cars, light trucks and motorcycles), registered in Maryland, that are less than 24 months old and have been driven less than 18,000 miles.
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Post by bluecrabber on Apr 26, 2012 15:01:43 GMT -4
Not to defend used car dealers, or used boat dealers, or lawyers, or vacuum cleaner sales people, but sometimes stuff happens.. Like the 80 year old lady with the 04 Cadillac she drove around for a few weeks and had a head gasket blow.. Good chance she drove the car around with the engine temp gauge buried, or check engine light on.. The car may have had a coolant leak and got hot.. An overheated engine will frequently warp a head and blow a gasket.. Is this the fault of the used car guy?? Maybe.. Reminds me a friend who I will not name who was a Ham radio operator.. I was talking to him one day on his way home from work.. He mentioned that his car was starting to go slower and he wondered if it had anything to do with the "Check Engine" light that had been on for the last couple weeks.. This guy was commuting from Rockville to Grasonville every day.. He kept on talking to me and said that he had to pull over to the side of the road because now his car would only go about 5 mph.. plus he said something was really smelling bad.. Turns out he had a busted radiator hose and had been driving the car between Rockville and Grasonville for a couple weeks without any coolant.. I actually thought that was a very good commercial for how tough that little 4 cylinder engine was in that Chrysler car..
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Post by 58impala on Aug 13, 2012 10:11:32 GMT -4
Go to their website sometime. Most of those cars have title problems with mileage and other thing, like having been considered totaled at some point. I at least gave them credit being honest about the those facts.
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Post by hewie1980 on Sept 14, 2012 22:41:23 GMT -4
I was under the impression after reading these reviews that this might be a better place to bring our cars instead of the Cadillac dealer who was charging way too much for service, but I couldn't have been more wrong.
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