ran604

Hey guys, long time lurker, but recent club member looking to get in my first p-car. I'm in Vancouver, BC so will be importing the car from the US.

I'm going to be purchasing a private sale one owner 09 C2S, owner checks out and has been very accommodating. Owner just bought out the lease on the car and is dated as Nov. 22, 11 on the title. Problem is the title is under the Porsche dealer's name and has been signed over to him along with a bill of sale from Porsche financial. The next the space is for "First Reassignment Dealer Only". Which from my understanding is for dealer trade-in only. Is our only option to have him pay state tax on the purchase and get the car titled under his name then sign it over to me? Are there any ways around this?

What I would like to do is have it CPO'd through the dealer, so could he not just sell the car to the dealer and then have the dealer sell it to me at the agreed upon price + cost of CPO and since I would be exporting the car avoid him paying taxes?

Any insight would be greatly appreciated.

TerpsRED

It may depend on the state, but the buyer should already have paid sales tax on the purchase. He can take it to his local department of motor vehicles and get a new print of the tile in the owners name now. (Title without the lien recorded). This may have a small fee associated. That way when you get the car and title it is a title in the current owners name, signed over to you. This is how it can be done in Maryland.

Piratesoul

The current owner (former lessee) must title to the vehicle in his name and will have to pay sales tax on it. There is absolutely no other way around it, that's how the state ensures they get there sales tax, a second time.

TAI2

+1 per TerpsRED (in NJ)

Mumbles

Hey OP I just purchsed my 2009 C2S from the US one month ago and completed the importation of the vehicle it into Canada.

Are you able to purchase the car through him by maybe going with him to the dealer, or if the title is in the dealers hands buy it from them direct. Some states may vary but if a car is to be taken out of state or exported there will be no state tax on top of the purchase price of that car.

This is what I did when I purchased an "early lease" return back to the dealer.

Coming into Ontario you get hosed for taxes anyway. One thing I learned is that the "Canadian border" has its own value on the imported vehicle, and that you will pay taxes based on "thier" evaluation immaterial of what any purchase receipt states, even if it was gifted to you.

Best of luck
Neil

ran604

Thanks guys. The car is in Texas if that matters.

JasonKM

Mumbles, not sure what happened in your case, but I have imported my C4S and a harley and never had an issue with the Canada Customs assigning their own value. In both my cases the bill of sale was from a dealer

Farfelc2s

In Quebec, which is still in Canada, taxes are paid on the Govt values unless the invoice is higher. A license bureau can tell you what he current value is because we pay them the PST. The GST is paid at the border.

Mumbles

Not sure if things have changed Jason, but when I imported an new s2000 in 2007 they went from the dealer invoice, last month they didn't even want to see any dealer invoice, they had their own numbers that I paid tax on.

Your dealer invoices may of been in line with their valuations at the time you imported.

They valued my vehicle more that what I paid for it, and I paid tax and import tax on their evaluation.

I'm just so happy to be able to have a car like this.......

daddyscar

Curious too. From my experience in depends on state and bank. I'm in CA. In 2002, sold a BMW leased from BMWFS; buyer sent check for buyout to BMWFS and paid sales tax to DMV. In 2006, sold a Land Rover financed from some bank; I bought out loan and sold to guy from NV a month later (I already payed sales tax when I originally financed so timing of sales tax at resale was not an issue. In 2008 sold a Honda leased from HondaFS; I sent check to HondaFS for buyout amount w/out sales a tax where I had 10 days to transfer to buyer who payed sales tax at DMV . . . came close to 10 day limit so beware). In 2010,i tried to sell a MB leased from MBFS but they demanded that I pay them the sales tax; ended up returning to dealer at lease end but I think I would have had 10 days to transfer to new buyer without new buyer having to pay sales tax (never got clear answer).

So now I'm wondering how it works with PFS in CA if I sell my 2011 Cayenne early. Any experience?