Do I Have To Pay Income Tax If I Sell My Car Privately?

I was at a luxury car dealer and they clearly gave me a low-ball offer on my trade. When I told them that I would rather sell it privately, they said “Well, if you do that you will have to pay thousands of dollars in income tax.” This sounds fishy to me, can the IRS tax you on a private sale? » 4/23/15 3:29pm Thursday 3:29pm

Couple Denied Trade Because CarFax Revealed "Total Loss" Six Years Late

We have already established that CarFax and other vehicle history reports are far from perfect. However, many of us use them as a first line of defense against cars that have been damaged or totaled. But what happens when CarFax doesn't report the information in time? One couple found out the hard way. » 4/08/15 4:48pm 4/08/15 4:48pm

Should I Trade In My Car Or Sell It Privately? 

When it's time to upgrade your current ride, you're faced with the choice of trading it in to the dealership or selling it elsewhere. While a private sale can be a hassle, it often means getting more money for your car. However, it really depends on what you have and your local tax rates that determine the most… » 3/30/15 10:39am 3/30/15 10:39am

Police Departments Offer "Safe Lots" For Craigslist Transactions 

You can find some great deals on bargain automobiles on Craigslist. However, recent stories about buyers and sellers being robbed or even killed illustrates the risk you take when dealing with an online stranger. Some police departments are responding by allocating a portion of their parking lot to ensure a safe sale. » 3/27/15 12:26pm 3/27/15 12:26pm

These Are The Best Certified Pre-Owned Car Programs

If you want to drive a luxury car, you have three options: buy new, lease, or buy used. Tavarish says the smart money buys used and buys on Craigslist for cheap, but if you want a little more peace of mind, certified pre-owned is the way to go. Autotrader ranked their top ten CPO programs, you might be surprised… » 3/24/15 10:06am 3/24/15 10:06am

Would You Lease A Used Car? 

New car sales had a record year in 2014, this also means that dealers were taking in more trades than before. Now used car inventories are piling up and dealerships are looking for ways to put budget minded buyers in more expensive pre-owned cars. According to a recent survey, we could see the rise of pre-owned… » 1/21/15 11:38am 1/21/15 11:38am

Here’s Why It’s Really, Really Hard to Buy a Rare Car

Recently, I've been getting a number of messages from readers inquiring about my next car. Dear Doug, these messages say. When are you going to get your head out of your ass and realize that the Lincoln Mark V is the car for you? Then they send me several grainy 1970s press photos of the Lincoln Mark V, which – for… » 1/06/15 3:50pm 1/06/15 3:50pm

A Different Kind of Christmas List: 7 Best Unreliable CarMax Cars

Well, ladies and gentlemen, Christmas is upon us, and I've decided to celebrate in my own special way: by getting violently ill. That's right: for the last few days, I've been moving around the house with approximately the same level of energy as a three-toed sloth in a zoo enclosure. ("Look honey! There he is!! … No,… » 12/25/14 2:00pm 12/25/14 2:00pm

The Best Strategy for Buying a Used Car on Craigslist

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When you're looking to buy a used car, Craigslist can be a great resource, but you need to keep your wits about you and approach all listings skeptically. And when you see the car in person, there are a few things you should keep in mind so you stay safe and don't get swindled. » 11/11/14 5:01pm 11/11/14 5:01pm