| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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06-15-2018, 07:35 PM
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#1 | | Proud to be called a RS Regular!
Join Date: Mar 2015 Location: Vancouver
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| Selling Vehicle for Friend
My good friend just secured a job overseas and is going back to pursue his career, and probably won't be back for a few years. He has a car here and wants to sell it later as his father is currently using it, but will be moving back also later in the year.
He wants me to help him sell it after his dad has left too, as his dad is older and lacks the online skills to post ad, show car, answer questions, etc. So my question is
1) Can he transfer the vehicle to me as a gift without taxes? (I would merely be selling it for him later and transferring him the funds after)
2) Can I be added as a joint owner on the vehicle and not have to pay taxes? (That way I can get his signature on the transfer form first, and I can sign the other half when I sell it)
Anyone with experience with this please chime in. Thanks
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06-15-2018, 08:02 PM
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#2 | | I STILL don't get it
Join Date: Nov 2015
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604-661-2800
You are going to have to call them regardless so why not just call them?
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06-15-2018, 08:04 PM
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#3 | | Rs has made me the woman i am today!
Join Date: Jun 2002 Location: Victoria
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You can have your friends Dad pre-fill the transfer forms in advance.
Once it is ready to sell, enter the amount on there, submit.
It is not worth Evading tax. the purpose of gifting is not so other people can help them sell cars.
It will also register another owner when transferred.
Last edited by oldsnail; 06-16-2018 at 02:13 PM.
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06-15-2018, 10:23 PM
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#4 | | Where's my RS Christmas Lobster?!
Join Date: Aug 2011 Location: Richmond
Posts: 861
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^This, pre-sign transfer forms. Do a few, in case mistakes happen when filling the rest of the thing out and that's it, they still own the car and you are just helping.
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06-16-2018, 12:17 AM
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#5 | | Head of HR....have a seat on that couch
Join Date: Jan 2003 Location: Coquitlam
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| Quote:
Originally Posted by nsx042003  ^This, pre-sign transfer forms. Do a few, in case mistakes happen when filling the rest of the thing out and that's it, they still own the car and you are just helping. | Just playing devil's advocate but that's the same reason curber's give when they're selling a car that's not in their name.
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06-17-2018, 08:42 AM
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#6 | | Need my Daily Fix of RS
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Sorry to hijack the thread, but I'm in a similar situation. My friend wants to keep his car, but he will be back once a year. In the meanwhile he wants me to take care of the vehicle (authorizing maintenance, storage, drive it around here, replacing parts), but I understand to do those things I need to be the registered owner or at least be joint owner of the vehicle. I'm not purchasing the car at all but hes wants to add me as a registered owner so I can act on his behalf.
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06-17-2018, 04:12 PM
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#7 | | I'm invisible
Join Date: Jun 2002 Location: 604 Vancouver
Posts: 4,458
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| Quote:
Originally Posted by G0rilla Sorry to hijack the thread, but I'm in a similar situation. My friend wants to keep his car, but he will be back once a year. In the meanwhile he wants me to take care of the vehicle (authorizing maintenance, storage, drive it around here, replacing parts), but I understand to do those things I need to be the registered owner or at least be joint owner of the vehicle. I'm not purchasing the car at all but hes wants to add me as a registered owner so I can act on his behalf. | I think for being on as a joint owner, there are there are things you can and can’t do. I think you can buy storage policy without the other owner. You can’t reduce certain things the ICBC coverage and so on. I would check with a broker or call ICBC.
You could probably help him buy day permits, if he provides you with like a Letter of authorization.
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