Tips on Buying Cars/Title

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Expert: Jeremy Beck - 10/21/2009


Question
I want to trade my truck for a car.  I found someone who wants to do the trade, a private party.  We will not be exchanging any money, just the vehicles.  What would be the best thing to put under price on the title?  A Missouri title.  Thanks

Answer
Kayla,

Thanks for your question.  If you aren't exchanging any money, you can simply put price as "0".  That way neither of you have to pay sales tax.  Since you aren't really selling the vehicle, but only exchanging it, that is perfectly legal.

Hope this helps.

Thanks - JB

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Jeremy Beck

Expertise

I can answer any question as it relates to the purchase or lease of a new or pre-owned vehicle. I can give you advice in purchasing from a franchised dealer or private party. Buying a vehicle can be a very difficult and frustrating experience, but it doesn't have to. Know before you Go! Let me help you with any of your questions.

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I have been in the automotive business for 10 years. I have held every position from salesperson, Finance Manager, New Sales Manager, Used Car Sales Manager, Finance Director, and Director of Sales and Finance. I graduated from the University of Texas with a major in Business Administration, and have held many sales jobs in the automotive sector. I am a member of the Association of Finance and Insurance Professionals (AFIP). I have also been trained by some of the best schools in the business including JM&A, Ethos, VT/AIG, Inc, and various others.

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