Hyundai Elantra Forum banner
1 - 13 of 13 Posts

·
Registered
Joined
·
17 Posts
Discussion Starter · #1 ·
I'm a New York State residence, and I bought an Elantra from a Pennsylvia dealer on June 24. Because at the time of purchase I didn't have driving license, so I let this car temporarily registered in my New Jersey friend's name. But today, my friend received from the dealer the title, on which he is the buyer of this car. So I want to know how to transfer the ownership of the car to me?

I think, first, my friend go to NJ DMV, pay the 6% sales tax, and finish the transaction of ownership to his name. Then he transfer the ownership to me as a gift, then I present the title to NY DMV and register the car in my name.

Do you guys have any suggestions or comments?

Thank you very much!

Andy
 

·
Registered
Joined
·
732 Posts
I don't know how it is in NJ & NY, but in Cali a gift can only occur in a family. If it were here it would be a sale, and you would have to pay sales tax on it again when you take ownership.

I'm sure you will have some fun with the finance company also. your friend can't sell the car without paying off the lein-holder. I assume the loan is in your name, but it will still be pretty confusing. I sugest calling them up and asking how to handle it.
 

·
Registered
Joined
·
17 Posts
Discussion Starter · #3 · (Edited)
Actually the car is a second hand car. No lien. I paid the full price.

BTW, if not as a gift, can we tell DMV that he sells the car to me for only one dollor?

thanks
 

·
Registered
Joined
·
732 Posts
You could but the might decide to make you pay according to the value (I've heard it has been done here)

I found this on the NY DMV Website

"If the vehicle was a gift or was purchased from a family member, use form DTF-802 to receive a sales tax exemption."

http://www.nydmv.state.ny.us/forms/dtf802_01.pdf

It looks like they're a bit nicer in NY than here in Cali.
Make sure he fills out the second page and answers no to 3a, 3b, and 3c. and enter 0 for Q4.
 

·
Registered
Joined
·
17 Posts
Discussion Starter · #6 ·
by the way, does my friend need to submit the PA issued temporary plate (expires on July 24) to the DMV when he does title transaction ?
 

·
Hyundai Dealer
Joined
·
811 Posts
Your friend cant give it to you as a gift that is for relatives only. The only way you can get it is to buy it from him. The state will not allow him to sell it to you for an unreasonably low price either. You have to pay fair market value for the car. If you try to buy it from him for a unusually low price you will be required to fill out an MV-3 form explaining why the sale price is so low. Basically when you put it in your friends name you fucked yourself bad. You should have waited til you got your liscense. I just reviewed all this with my business manager here at the dealership and there is no easy way out for you!! GOOD LUCK!!!!

P.S. Once you fill out the MV-3 form the state will decide whether or not you will be allow to buy it for that price or not.
 

·
Registered
Joined
·
732 Posts
Look at the link that I put above. NY allows gifts from non-family members. Just make sure he fills out page 2.

andyzhang said:
by the way, does my friend need to submit the PA issued temporary plate (expires on July 24) to the DMV when he does title transaction ?
I don't think that he would need it, because they wouldn't have him take it off of the car. Yuo might want to go with him just to be safe.
 

·
Registered
Joined
·
17 Posts
Discussion Starter · #9 · (Edited)
thank you guys. I think I can register the car as a gift at NY dmv, because recently, one guy here bought a car and got tax exemption because the seller agreed to do it as a gift and signed the affidavit (Form 803).

I will go to NJ tomorrow and finish these paperwork.

One more question: Does my friend need to have insurance for this car under his name in order to do title transaction from the dealer to him?
 

·
Registered
Joined
·
732 Posts
The car just needs to be insured, It prabably dosen't need to be by him.
 

·
Hyundai Dealer
Joined
·
811 Posts
well i was hoping i was wrong for your sake so good luck and hopefully you can getter done!!!!
 

·
Registered
Joined
·
17 Posts
Discussion Starter · #12 ·
i went to NJ yesterday. the title was transferred to my friend, but he cannot transfer it to me until he gets the new title in 4 to 6 weeks. :mad:
so I must wait 4 to 6 weeks till I can register my car. :(
I will have to park it in garage after this Saturday. :(
 

·
Registered
Joined
·
732 Posts
You can still drive it as long as it's insured. It dosen't need to be in your name to be drivable.
 
1 - 13 of 13 Posts
Top