Hope some one here can help me understand and advice as wat to do next ?? I paid off a loan on the truck that I bought from my friend through wire transfer . he just got the title from the financer with line 2 signed which released him from lien .
Now my question is ? do I have to pay the tax if he goes to dmv and transfer the title on his name First and then transfers it on my name ?
Or he can just transfer it to my name directly ? We are in California and I will be leasing the truck with the company for interstate out of California so are there any taxes involved for interstate ? I know I'm kind confused ?
Paid off friends loan on truck ??
Discussion in 'Trucker Taxes and Truck Financing' started by mortal_oean, Sep 16, 2016.
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Or watch as he drives off into the sunset...
RedRover, passingthru69 and mortal_oean Thank this. -
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Put your own lien on the title.
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Should not be a problem, the truck was only sold once. The finance company just released the lien.
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Papers for commercial vehicle hey charged me $ 150 and said u will be getting a title on ur name in a few weeks and that there are no taxes involve so went ahead and did it .waiting on title now .thanks all for ur input always appreciated. Be safe
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