There are a few things that you should know about transferring a vehicle's title into your name. Some of these things may make you reconsider the purchase of your vehicle, and some of these tips will save you money by avoiding paying unnecessary penalty fees. The following is a short list of basics & tips:
- CA DMV dictates that you transfer a vehicle's ownership within 10 days of the purchase. If you don't do this, you will be penalized. I have seen customers who waited 6 months to transfer the title and the penalties were in the 100s!
- Since we are in CA and there's a sales tax, the purchase of a vehicle is also charged a sales tax. The CA sales tax varies depending on city/county... but it averages to about 8.75%. When you transfer a vehicle's title you will be charged transfer fees, registration fees and most of the time sales tax.
- Vehicles that weigh more pay more. The heavier your vehicle is the more you'll pay. Even an older vehicle who has little to no value can incur high fees due to its weight. This is something to consider when thinking about a vehicle's true cost. If you know your vehicle weighs less than the "unladen weight" listed on the registration, you should have your vehicle weighed and the unladen weight updated so that you pay the appropriate weight fees for your vehicles. Call us @ 951-684-0494 and let us tell you how. Here's the list of weight fees and their corresponding weights.
- Vehicles sold between children, parents, grandparents, grandchildren and siblings, in most cases, qualify for a "family exemption" - taxes are waived & with the exception of the biennial smog, you don't need to get a smog.
This list of tips & basics is short but these are the main things that effect the price when you are transferring a vehicle into your name. Do you want to know how much it will cost to transfer a vehicle into your name? Simply call us or e-mail us and we will let you know how much it will cost.