Article by Winnie Lim

Do you know? Everyday thousand seized cars and surplus cars that belong to government and bank property are increasing. Therefore, they must be sold fast and cheap in stead of paying the overflowing expenses to store all vehicles. These autos are taken by Government agencies such as IRS, customs, DEA, police and seizure laws then auctioned off to the general public.

Save up to 95% off book valueNobody refuses that car is one of the most important things in daily life. Buying a used vehicle is a good way to save money. There are many people look for quality secondhand cars. They do not mind buying used autos. If you are looking for a used car, the car auctions are the good places that you can see so many make and models, including classic cars and luxury cars at the best offer. The used vehicles auctions attract lots of people nowadays because they are the large used automobile centers who allow customers to save money up to 95 % off book value. Moreover, if you buy a car here you will get great services, and you can save time at car auctions.

Cars starting at 0 There are Seized Cars, Trucks and SUV’s sometimes were sold as low as 0 to 0. Furthermore, you will find all makes and models as seen on TV such as Hondas, Fords, Mercedes, Corvettes, etc., at the auctions. When you become the member of car auction online you will be offered to access data listings in every US state and city that will allow you to purchase directly from source and get the brand car in the good condition that you want. You will see clean and low mile cars at auctions for sale. Of course you can check a car background on the one which you desire to buy. What kind of brand that you are looking for? Perhaps you will get a luxury car at the special deal!

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Question by Jon: Transferring used car, how to determine “Market Price”?
Transferring a used 2008 Lexus IS250 to a family member. We need to pay tax on the car at “market price”, yet its very hard to determine. If the offer is too low the IRS will reject it. I’ve seen prices as low as $ 20,000 online and high as $ 33,000, how low do you think we can go?
I was thinking of $ 21,500, do you think the DMV/IRS will accept this?

Best answer:

Answer by Sophie B
You check several places for price, throw out the lowest and highest, and average from there…..

If in the process you are using dealer pricing, then I would lower final average 1000-2000.00 because most people will haggle used car pricing….

You could also use the blue book price for “average” condition…..

Add your own answer in the comments!

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Question by : “Buying” a car from a friend?
We are being given a car by my husbands step-grandmother. I say we need to have her write a letter reading that we bought it and have her sign it cause maybe we might get taxed for the gift or when we go to the DMV they will want proof we bought it and didn’t “steal” the pink slip and car. My husband says we just need the pink slip to change ownership. Who’s correct? Are both correct? BTW, we live in CA.
Thanks again for your help.
Thanks Faye. But, does anyone know if this can get taxed by the IRS or does it have to be over a certain amount to qualify as a non-gift? I am clueless, but obviously want to cover myself. Thanks again Faye.
Thank you everyone for your answer’s. And yes, CA loves to tax us to death it seems.

Best answer:

Answer by Faye Mchugh
you just need the slip, she signs on it

Know better? Leave your own answer in the comments!

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Chances are you are like millions of other people, trying to live a normal life while saving money and improving the environment.  The current economy is tough and while the price of fuel has seen some decline, you can do better.  With the book, “Build your own Electric Car“, you will gain a tremendous amount of information for converting your existing gas powered car into one that runs on electricity.  In addition to the huge savings for fuel, you are also doing your job to support a green world.

The developer of this book comes from a different vantage point.  His entire family has spent 15 years living green.  Using both solar and wind power, and making the revolutionary discover of converting a car to electricity himself, he can now pass on his knowledge so that you too can benefit.

The information provided in “Build your own Electric Car” is powerful and easy to follow.  Instead of spending hours of research on a hybrid car comparison for a new hybrid car, the information provided will show you a viable way of taking your existing car and turning it into a vehicle that runs on electricity.  The result is having your same comfortable car but now in a more practical, functional, and money-saving way.

The book, Build your Own Electric Car” is unique in that it was written by a person with a passion for using renewable resources.  The educational information in the book is simply amazing, showing people how they can stop paying high costs for gas with a simple conversion.  The solution the author developed was so successful for him and his family, he made the decision to share what he learned with others so they too could benefit.

The conversion process provided in “Build your own Electric Car” is easy but you will also be given other valuable insight that includes:

* Cutting fuel costs to almost zero
* Cleaning up and supporting a better environment
* Getting significant IRS refunds

Unlike other books about electric cars and the extensive work and money to build something from the ground up, “Build your Own Electric Car” uses the person’s own vehicle but modifies the way it works.  The outcome is a normal car that is very inexpensive to run and less pollution going into the air breathed.  All of this is possible for less than $200!

When the conversion is finished, you will be able to drive your car at normal highway speeds and go up to 100 miles on just on charge.  The developer of “Build your own Electric Auto” is so confident that he provides a 100% guaranteed that anyone using the information provided would succeed.  This means the cost of expensive fuel is forever eliminated.

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Today, more and more people are choosing to donate a vehicle to charities rather than sell it. People prefer to do this for a variety of reasons. Some do so because they want to something to help the less fortunate in their community. Others do so to get tax breaks. Either way, there’s no doubt that this option is a very good one.

Selling a car, truck, or more expensive vehicle is what most owners choose to do, but an increasing number of people are starting to see the benefits of vehicle donation programs. When it comes down to the two options, though, which one is genuinely the  best idea?

Here are just a few reasons why many people today consider donating a vehicle is better than selling it.

• There are a variety of Goodwill programs and services out there, so owners of unwanted vehicles have a option of what type of cause they want to support.
• Many of the programs are localized; therefore donators can help bring about change to their own town or city.
• Donating a vehicle is easier, quicker , and a lot more hassle-free than trying to sell it.
• Donating is free, whereas trying to sell can cost advertising money among other costs.
• The IRS gives out tax breaks to individuals who donate money or vehicles to charities.
• Donating vehicles is a great way to help make the world a better place. Those who wouldn’t normally be able to afford cash donations can still bring aid to those less fortunate than themselves by giving unwanted cars, trucks, or motorcycles to charitable organizations.

Clearly, there are more advantages with donating versus selling . It’s not very surprising at all why many people are choosing the more charitable option over the alternatives. This is a choice that has many benefits.

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Maybe.

If you itemize, you are given the choice of deducting the state sales tax that you paid throughout the year or the state income tax you paid but not both.

The IRS has developed tables to calculate what the average person spends in each state on sales tax. Take this number, and how much tax you paid on the car and if that number is higher than your state income tax AND you itemize, you will get a deduction.

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If you bought a new car in 2009, you may be eligible for an additional deduction when you file your taxes.

Duration : 0:1:8

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Have your eye on a new car? Be sure to check out this video from the IRS to find out how buying a new vehicle may actually put some more mileage in your tax return next year.

Duration : 0:0:41

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My wife and I purchased a new car in 2006. The car is used for both personal use, and for use in my business. Can I deduct anything on my taxes in regards to the purchase of this car? Would I be listing the car as a business asset?

Yes, you can. However, the IRS only allows you to take pieces over time. You’ll need to look into the instructions for depreciation or form 4562.

Most cars are subject to the luxury auto limits meaning there is a cap as to how much you can deduct as depreciation expense each year. For someone that has never dealt with this before, it can seem very complicated. Now might be a good time to hire a CPA to handle your return. Part of the cost (for the CPA) is also deductible as a business expense!

Technorati Tags: Business Asset, Business Expense, Cap, cars, Cpa, Depreciation Expense, Form 4562, Good Time, Irs, Luxury Auto, New Business, New Car Purchase, Personal Use, Taxes

If you think you can save the most money by buying cars from second bank car garage sales, think again. There are a lot of available ways to buy cheap cars that are still in relatively good condition.

Today, there are a lot of web sites which could give you the most affordable and lowest prices of automobiles, some of them are almost new and some car models which you could even buy at 20 to 60% price off compared to its current market price. What we are talking about are those cheap repo and seized cars for sale.

What are these cheap repo and seized cars for sale? If you are not yet familiar with it, “repo” means repossessed by the government, either by the Police, or some government institutions such as FBI, IRS, DEA, US Treasury, etc.

Now, do you get the idea? These are seized cars from criminals, tax law evaders, or any one who erred the law. (You don’t need to worry and be afraid about the car’s condition and past owners. These cars have not been used by murderers.) That is why these cars have been known to be of high quality, branded models which would even contain lesser or even no damage at all.

Since it cost the government money and space to store and maintain these repossessed vehicles, they are more than willing to sell it at cheap prices to get rid of it since they always have more repo and seized cars coming in.

However, you do have to note that cars sold at government auto auctions are sold as is. So you need to know how to inspect a car before buying. If you are not familiar, it would be best to bring along someone who can determine how much repair is needed before it can be driven.

Ricky Lim
http://www.articlesbase.com/cars-articles/cheap-repo-and-seized-cars-for-sale-government-police-car-auctions-691612.html

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