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Buying Maverick for out-of-state son

Timaysz

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I saw that. The problem is that the credit is seemingly for sales tax that he, the Washington resident paid. If I buy the truck and then sell it to him, HE did not pay any sales tax, I did. So seemingly he would have to pay the sales tax again UNLESS he was a purchaser.
Then why don't u just buy it and keep it in ur name... If ur paying the down payment and then mostly responsible for the loan... then I just keep it in your name and let him drive it just cuz it's in your name doesn't mean it isn't his truck just on paper it's yours
 
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PCK

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Then why don't u just buy it and keep it in ur name...
But I am in NC and he is in Washington. Insurance would be Washington as that is where it will be used. A problem for a NC truck to be housed and used almost exclusively in Washington.
 
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PCK

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Sounds like he is in college. Just registered in your name and state and let him use it as a student. When he graduates, transfer it to him after a year or gift it as graduation gift.
Rules are different if your an out of state student than a permanent residency.
...
He will not fight me if I carry the financial burden.

He is a grad student and a resident of Washington- not out of state.

Not sure about the rules for gifts to family members in Washington.
 

OleFordGuy

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It shouldn't be this difficult to furnish a kid going to college in a different state an insured vehicle to drive while he is there. Untold thousands do it everyday. Maybe its worth your time to check with your insurance agent, your accountant, attorney, etc for a sanity check on how to best proceed if that would make you feel better about it all.
 
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TedTX

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That makes it expensive. But did he keep a NC driving license/ registration to vote in Washington State?
Is he still under 25yo? Do you have to give your financial info to get him student related funds?
 

Timaysz

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But I am in NC and he is in Washington. Insurance would be Washington as that is where it will be used. A problem for a NC truck to be housed and used almost exclusively in Washington.
Didn't you say he's a college student. we just housed a car in our garage over winter break for a college student that's friends with my stepdaughter in her sorority she's from Washington she's going to school in southern Wisconsin and we live in Northern Illinois, she didn't want to drive that car back for Christmas break and then drive it back again here so we told her she could store it at our house and we put it in the garage for her
 
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PCK

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That makes it expensive. But did he keep a NC driving license/ registration to vote in Washington State?
Is he still under 25yo? Do you have to give your financial info to get him student related funds?
Has lived in Seattle for 10+ years and never has lived in NC. We did pay for some college loans but not for grad school. He is 32.

My concerns are 1) him driving and housing a NC licensed vehicle ; and
2) taxes on transfer of vehicle from us to him.

That is why I asked about putting him on the title and registering it initially in WA- WA plates and insurance and later transfer will be easier/less taxing.
 

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Has lived in Seattle for 10+ years and never has lived in NC. We did pay for some college loans but not for grad school. He is 32.

My concerns are 1) him driving and housing a NC licensed vehicle ; and
2) taxes on transfer of vehicle from us to him.

That is why I asked about putting him on the title and registering it initially in WA- WA plates and insurance and later transfer will be easier/less taxing.
When you receive a vehicle by gift or inheritance, your vehicle is exempt from tax if the previous owner paid Washington Retail Sales Tax or Use Tax and there is no consideration given. If the vehicle being gifted was registered in another state, credit will be given for tax previously paid.
 

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But I am in NC and he is in Washington. Insurance would be Washington as that is where it will be used. A problem for a NC truck to be housed and used almost exclusively in Washington.
If he is college student not a problem to keep the insured address the NC home address. Rare that college address would be used for insurance purposes. If you have a good agent they can confirm. Title and plate using parents home address is the norm also.
 
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TedTX

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Yeah, he is too old to claim, lol 30+ and still in college, well, gee, ah, O.Kay.
Talk with the dealer, maybe the fordtruckguy here about out of state sales advice. Seems very do able if your paying for it your at home dealer shouldn’t care.
 

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In MI you can sell a car, parent to sibling or siblings to siblings and not have to pay state taxes. I check out your state department of vehicle place....In MI we call it the secretary of state office.
 

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Just put his name on the title with yours when you buy it.
 

OleFordGuy

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He will not fight me if I carry the financial burden.

He is a grad student and a resident of Washington- not out of state.

Not sure about the rules for gifts to family members in Washington.
Oh My, wait, your saying he's 32 years old, still in college and "he will not fight me if I carry the financial burden". I'm sorry but it's past time to "break the plate". It's past time to be a Responsible Man and pull his own weight, provide for himself and face reality of this world. Sorry. Maybe there's more reasoning that we don't know and shouldn't know. Hope it works out for ya. Good Luck.
 

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