Any vehicle flippers?

[Mrzllewellyn]

My grandpa flipped a few vehicles off a little drop off on he way from the bar years ago didn't do nothing but cost him insurance deductible...

Oh not that kind of flipping.... Somebody been watching texas car wars lol

 

[cvpadge]

you can only buy and sell FOUR vehicles per year as an individual. The state will come after you for dealers taxes if they see you are buying and selling more than 4 per year.

This is news to me.

 

[Mrdoooner]

My grandpa flipped a few vehicles off a little drop off on he way from the bar years ago didn't do nothing but cost him insurance deductible...

LULZ!

 

[cullyhog]

Also remember next year if you buy a car and title it in your name before you flip it you will pay sales tax on it!
Another 6-7% into your profit. Brokers license is different from dealers license but still a pain.

 

[Hasselhoss]

Not anymore. The state is charging sales tax on private sales now so it is t worth it to me.

 

[Leatherhead]

This is news to me.

I paid $100 to attend a Dealer training session and that is what they told us.

 

[Bioshock]

Hey guys,

I have been thinking about what it would take to start flipping some cars or bikes for some extra cash.

Have any of you done this before?
If so, do you have any words of wisdom that you can share?
Anything that needs to be repaired can be done but are there any suggestions of how to buy at auctions or other places to find good deals? Things to look out for, laws to make sure and abide by that may not be widely known, etc?

Any help would be great!

Did it for years..gotta have somewhere to store them.
If they are insight you can be made to tag and insure them, atleast thats what was told to me by local
code enforcement.

 

[cvpadge]

Not anymore. The state is charging sales tax on private sales now so it is t worth it to me.

I have bought two harleys and two trucks since this came about and havent had to pay anything other than title and tag fee

 

[Hasselhoss]

I have bought two harleys and two trucks since this came about and havent had to pay anything other than title and tag fee

My brother just bought a car and only had to pay tag fee as well. A few weeks later he got a letter from the state stating that he will need to pay sales tax on the car. Guess it's a transitional period right now.

 

[cvpadge]

My brother just bought a car and only had to pay tag fee as well. A few weeks later he got a letter from the state stating that he will need to pay sales tax on the car. Guess it's a transitional period right now.

well its been a few months since the harleys and one truck but the other truck i bought two weeks ago. i hope i font get that letter