Is it Better to Gift a Car or Sell it for $1 Archives

Is it Better to Gift a Car or Sell it for $1?

January 15, 2024 by Tom Harbid

Quick Answer: Gifting a car is generally the better choice due to potential tax implications and the smoother transfer of ownership. Gifting involves transferring the title to the recipient, while selling for $1 may still incur sales tax based on the car’s fair market value. Gifting a Car vs. Selling it for $1: A Detailed … Read moreIs it Better to Gift a Car or Sell it for $1?

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