Buying a B Body from a private seller - Lets's hear your stories!

[moose1]

Here in Ontario, you're supposed to have a "used vehicle info pkg" that costs $20. to change registration. Normally, it will show a wholesale price for the car with an included bill of sale. For old cars, there is no value so, when I bought my '66, I showed up at the license bureau with my bill of sale to pay the 13% tax. To my surprise, they don't accept a bill of sale for a vehicle over 25 years old. Instead, you must have an appraisal & that's the value you pay tax on - scared the bejeezuz out of me as appraisals can be pretty high. Fortunately, this appraisal is different & requires an "official" government form. I had the appraiser come out to the house & he completed the appraisal the same day. Ironically, his number was a bout $50. less than my bill of sale so, guess what, the ministry now accepted my bill of sale instead of the official appraisal (more $$$). Don't you just love beaurocracy?

 

[Thunderlugs]

My wife was perusing Craigs List and saw an ad for the 1967 Coronet for $3750. She piped up and said," Honey? There's a old car on Craigs List here, I think it's a Dodge. Didn't you say you liked them?" I gave her a look," Really?" let me see. So it was a '67 Coronet 500, cream yellow w/ tinted windows and AC. The car looked complete in the ad, which as we all know is the first hurdle with this particular car, and in fair shape. It was in Messena, NY up by the St Lawrence Sea way. I called the lady and asked her if she still had it? " Have it?" she said, " I just put the ad up 20 minutes ago!" I told her," Don't sell it. I'm on my way from Vermont with a trailer and I will bring cash." She was dumbstruck, said she had no idea it would ever sell, let alone so quickly. She agreed to keep it until I could see it in person later that day. My buddy and I got there 4 1/2 hours later after dragging a 16 foot trailer through the Adirondacks. The car was just as advertised and had some spare parts as well that her late husband had collected in hopes of restoring it himself. She was moving out west and had no intentions of dragging this, " Big filthy smelly car." along with her. We looked it over pretty well and decided that it was A. complete, B. priced close to right, and C. not a rust bucket, but a survivor classic. I said I am willing to pay what you asked. She was so happy she said, because she had visions of men coming around and trying to talk her into lowering the price, or detailing everything that might be wrong with it. We settled up and I drove it up onto the trailer and away we went.
Now, if it had been a guy I might have tried to negotiate a little with him. It felt like a fair price for the car as is and I was not leery about it at all. Fast forward 2 years and I found out in the tear down that it had a bad floor pan on one side, a dent on the cowl top corner on the right end, and it had been kissed on both front fender noses, like a rear ender might do. Not terrible but they needed some work. I'm still happy with the deal, no regrets.

 

[The Rebel]

That's a good point. Not sure how CT is if you buy in state or out of state. Will have to look at the DMV website.

Don't know much about other states, but here in good Ole Pa, 6% sales tax is due and payable to the state upon transfer of title. Soooo, if you paid 30K for your classic you owe the state $1800 for the privilege of them transferring title into your name. AND, if you buy out of state, you still owe when you try to get it titled in PA.
Just think if that car traded hands 10 times in it's life, it's more than likely they've collected more in sales tax than it's value.
Oh yeah, don't think I can sell it to my "relative" for $1 - don't work, it's then estimated value. Ask me how I know lol.
Great state.

 

[64 Post]

My favorited buyer is the guy that shows up and picks the car apart explaining it's going cost *** much to fix this and *** much to fix that and expects the costs the taken off the price. At the end of their game I not so politely ask them, "So, it sounds like you want the car for free, plus I pay your transportation costs, plus I pay all your restoration expenses, too. Is that correct?" I follow with, "We're done. Have a nice day."

A word of warning about transporting cash: Traveling with more than $3K invites seizure of the cash if you're pulled over, allow a search and the money is found (Google: Civil Asset Forfeiture). Each state is different in what they consider a 'large sum.' Get with your bank for their rules concerning a wire transfer and only do a wire transfer. AFAIC, certified check, and cash are no good these days for counterfeiting reasons.

 

[The Rebel]

Guess I can't carry that briefcase around full of $100 bills, LOL!

My favorited buyer is the guy that shows up and picks the car apart explaining it's going cost *** much to fix this and *** much to fix that and expects the costs the taken off the price. At the end of their game I not so politely ask them, "So, it sounds like you want the car for free, plus I pay your transportation costs, plus I pay all your restoration expenses, too. Is that correct?" I follow with, "We're done. Have a nice day."

A word of warning about transporting cash: Traveling with more than $3K invites seizure of the cash if you're pulled over, allow a search and the money is found (Google: Civil Asset Forfeiture). Each state is different in what they consider a 'large sum.' Get with your bank for their rules concerning a wire transfer and only do a wire transfer. AFAIC, certified funds, and cash are no good these days for counterfeiting reasons.

 

[Thunderlugs]

Yeah , I guess I have no regrets over the best deal I ever did. Back in 75 I was looking for a Roller. A guy told me he had an R/T body, so I went for a looksee. Sure enough, a 67 J code R/T 4speed car . Lucky me! Hemi bodys were more commonplace back then. I thought He was a little "High" at $350, so we went back and forth.......I beat him up pretty badly. I ended up paying $285.00 !! Did some digging, car came from Grand Spaulding! Put a Hemi back in ......Still have it 41 years later! Best $65 dollar dicker I will ever encounter!!

 

[Kern Dog]

In 2000, I had been interested in the 68-70 Charger for at least 20 years. I'd owned a few Camaros due to the Chevy legacy in the family. I started to look around for a reasonably priced project. I did want a driver, something that I could build over time. I heard of a 68 383 Charger that was at some guys place. It had an $800 deposit on it that was placed several months back. I tried to get the guy to refund the deposit and sell it to me but the "buyer" was a relative and the man would not budge.
I checked the local newspaper. (Remember the classifieds???) I saw an ad for a 70 Charger with a V8 nearby for $2500. The owner had moved to Los Angeles from the Sacramento area and decided to sell one of his 2 cars. The car he wanted to keep? a 74 Mercury Cougar!
He said the ad was ready to expire and he hadn't had much luck. He was going to renew the ad with a $2100 price. We agreed to meet the following weekend.
When I showed up, the man was hung over from the night before. He admitted that he wasn't in much of a condition to negotiate. I drove the car and was shocked at how solid and tight the car felt. 137,000 miles on a 30 year old Mopar with OEM suspension bushings, ball joints, torsion bars and leaf springs. 4 wheel drums. 14" wheels. 318/904/8.25 axle. The "500" XP model meant bucket seats, console, taillight panel trim, vinyl top and the base 318 2 barrel. I brought along a buddy with bodywork experience. He noticed it had some filler in the right quarter but nothing bad. The quarters were rock solid! It did have rust holes around the rear window and in the trunk floor but oddly, the quarters and frame rails were great.
I offered $1700 and the man accepted. I drove the car home and later used it to commute 140 miles a day for a month while I was rebuilding the engine in my work truck.
I have wondered many times if that guy ever regretted selling a 1970 Charger instead of that 74 Mercury.

 

[Car Nut]

Bought a 70 Challenger for $400, he was asking $800 in 1989.

 

[Kern Dog]

I have sold many cars private party. I have encountered the guy that makes an offer far below my asking price but THEN tries to make the offer appear legit by saying...I got cash!
You "got" not enough cash.
You need MORE cash.
What would I want besides cash anyway? Ground beef? Postage stamps? Used underwear?
No. I sell cars to make a little extra money, not to make car loans.
Will I take payments? Yes. ONE payment of the full amount is just fine.

 

[Photon440]

I've taken payments, but the car didn't move until it was all paid for.

 

[PlagueOfBadgers]

Years ago I sold a car on line. The buyer paid 3K by credit card direct to Pay Pal, then was bringing the other 2K in cash when he picked up the truck. I got the 5K I was asking. Thank god I transferred the 3K from Pay Pal to my Bank account minutes after him paying. It turned out this scum bag either used a stolen credit card or reported his card stolen and Pay Pal refunded the money sending my account negative 3K. I called Pay-Pal and they pretty much told me I would have to take this person to court to get this fixed. That would cost me more. I just stopped using that pay pal card. I am pissed just thinking about it now and this was 10 plus years ago. I pay cash for what I need and expect the same in return. Also I will check any large bills handed to me 20 and above, if the person is offended O well go get it from someone else. I don't take advantage of people and it will never happen to me ever again.

 

[PlagueOfBadgers]

Don't know much about other states, but here in good Ole Pa, 6% sales tax is due and payable to the state upon transfer of title. Soooo, if you paid 30K for your classic you owe the state $1800 for the privilege of them transferring title into your name. AND, if you buy out of state, you still owe when you try to get it titled in PA.
Just think if that car traded hands 10 times in it's life, it's more than likely they've collected more in sales tax than it's value.
Oh yeah, don't think I can sell it to my "relative" for $1 - don't work, it's then estimated value. Ask me how I know lol.
Great state.

In my state (NJ) you have to show a minimum of $1 for the sold vehicle on the title. So if they are asking $2,000 I ask them to sell me the car/truck for a $1 and that goes on the back of the title. I then tell them I am willing to pay $1,999 to help me remove the car from their yard. Obviously this can only work if it's a private seller, car dealers can't do this. I have been questioned more than once by the DMV, I look them in the eye and say it was a gift but you make me put a dollar down.
Got to love the loop holes the pineapples it government make.

 

[PlagueOfBadgers]

I don't know how other states work but I would try this next time. Most private seller's know about being taxed on car sales and know the pain of paying taxes on same cars over and over again.
1. Make the agreement for the sale of the car
2. Pay $100.00 for the car
3. Pay a fee for getting to look at the car $XX,***.
Face it most of us are not paying more than 10 grand for a car.
You came out of this paying 6 or 7 dollars in taxes for the car.

 

[threewood]

I have owned 3 B bodies and all were private party sales.
#1. 1968 Charger H code, $1200 in 1990. Went an looked at it with a buddy. Came back with my Dad and paid the man. It was priced right, had issues of course but was good enough for a high school kid.
#2. 1962 Belvedere. Family owned so there was no negotiations, gave her $1000 for it sight unseen as that is what she wanted and wanted it kept in the family.
#3. 1969 GTX. Was asking $5000 so I drove up to check it out, needed plenty of work that I could see but came with a pile of repair panels, body parts and spare parts. I initially told him it was more than I was wanting to tackle. Thought about it for a week and decided to buy it. Again, I thought the price was fair. Body numbers, vin, and fender tag matched the title, real GTX. Drove back up with $5k cash and bought it, same one I'm currently working on.

 

[Cornpatch MO]

I have sold many cars private party. I have encountered the guy that makes an offer far below my asking price but THEN tries to make the offer appear legit by saying...I got cash!
You "got" not enough cash.
You need MORE cash.
What would I want besides cash anyway? Ground beef? Postage stamps? Used underwear?
No. I sell cars to make a little extra money, not to make car loans.
Will I take payments? Yes. ONE payment of the full amount is just fine.

Cash that I can see and count, does make some difference to me when I sell. Way to often someone comes along and says " I will take it. I will bring the money tomorrow"and I never hear from them again. If someone has money in hand, I am a little more willing to negotiate. If they want to pay for it tomorrow, I make them give me some "good faith" money to hold it for them.............................MO

 

[MarPar]

something that works in IL is get the private seller to put down you paid $500 for the car and $3500 for parts.

but of course, I do not have any first hand knowledge of this.

 

[Kern Dog]

The tax mafia is onto that trick. To combat it, there are some agencies that assess taxes based not on the "sale" price but on a published value. If you got a high dollar car for half price, you'd still pay the tax as if you paid market value.

 

[polywideblock]

here in oz they calculate "stamp duty "or "transfer fee" (if car is regoed in Australia ) off sale docket ,$3 for every $100

 

[The Rebel]

Lots of helpful info guys. Thanks for all of your input. Hope you all had a great Thanksgiving and slowly coming out of your Turkey coma, LOL!

 

[threewood]

The tax mafia is onto that trick. To combat it, there are some agencies that assess taxes based not on the "sale" price but on a published value. If you got a high dollar car for half price, you'd still pay the tax as if you paid market value.

How on earth can they do that if what you bought is a rusty wreck of a project? Our (AZ) DMV didn't bat an eye or even want an inspection on my X when I got the title transferred over. I swear they used original msrp on it, plus I got historic plates for it as well so taxes were cheap.