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E34 M5 Discussion 1988-1995 Sedan and Touring

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Old 30th December 2007, 16:08   #1
M5sedan
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Calling all New Jersey and Arizona Owners and out of state purchase experts!!!!!

I am looking for some guidance in regards to making an out of state purchase of a vehicle. I am in NJ and would like to purchase a vehicle in AZ. What are the in-state and out-of-state sales tax laws/requirements for a private AZ purchase versus a company/dealer AZ purchase? What are the NJ requirements for an out-of-state private purchase versus dealer purchase? What are your insights, experiences and dealings with such a purchase? I am looking for a way to keep the sales tax to a minimum(if at all) in some way shape or form. Any thoughts or guidance on this subject would be greatly appreciated. Thank you all for your collective knowledge and wisdom.

NOTE: this issue is time sensitive and urgent so please provide me input as soon as possible either via post, PM or email. Thanks.
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'93 E34 M5 - Avus Blue/Dove Grey - 18" M-Parallels
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Old 30th December 2007, 16:47   #2
Elekta
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Just buy the car in AZ and make sure it's tags are current and drive it home. Then you need an original bill of sale. Have the seller make two bills and you both sign each in blue pen. Be sure the VIN, lic plate, and price are in the bill. Copies are not accepted in out of state or any title transfers (that includes color correct pdf scans.)

Get temporary insurance from your insurance agent and drive it home. Take the bill of sale and the title (signed in the right place by the seller) to the NJ dmv, and reregister it. You will have to pay an out of state car registration tax of about 4-8%, so if you can pay the seller in cash and get him to put $4500 or some firesale price on the bill of sale, you can save a few pennies. Only parents and siblings can sell you a late model car for a dollar, so don't try that.

That's really it. As long as the title is valid, the registration is current, and the VIN has been inspected by YOU, you should have no problems. If you are really nervous, you can meet the seller in the parking lot of an AZ dmv, and have his paperwork verified by AZ officials.

Never transact a deal without the original title in hand. If a transporter is picking up the car for you, make sure the seller is fed-ex'g the title to you, and do NOT have the title in the car during transport, or have the drive of the transporter carry any paper work other than his bill of lading transport contract.

Some of this may be obvious, but I just thought you should have all the info you would need.

good luck
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Old 30th December 2007, 17:03   #3
Blutarsky
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which car in AZ are you looking at, maybe i can give some feedback if i've seen it before
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