[WTS] 1994 Mitsubishi Delica L400 Exceed

[lobsterhunter]

I imported a 1994 Mitsubishi Delica L400 Exceed from the UK and I want to sell it for crypto to avoid tax. Asking price is 5.26ETH or 0.32BTC. Registered in FL.

I'll be driving from Florida to South Dakota via Texas and Colorado. If you live between any of these states, please get in touch to arrange a viewing.

It's done just under 200,000 km (125,000 miles) and been registered previously in the UK, Portugal, Armenia, Russia and Japan. Nonetheless, it drives perfectly. I just replaced the CV boot, roll bar drop link, glow plugs and fuel injector so it won't need any attention for a while. Welding was done by the previous owner.

It has a factory limited slip differential which is very rare and makes it the ultimate off-roading vehicle. The suspension has ironman 4x4 springs and a lift so it feels like you're driving around in a monster truck.

Photos in link. It's a beautiful vehicle looking for a new home in the USA.

https://imgur.com/a/vfqdnDj

[DireWolfM14]

0.000032BTC

I'll buy that for a dollar.  Seriously, what are you asking for it?

I have no familiarity with this vehicle, they're not imported to the US.  Is it full time AWD, or does it have a selector?  What size engine does it have?  Manual transmission?  Any chance you're willing to drive it sunny Northern California?

[LoyceMobile]

What's the catch with that symbolic price?


I know nothing about buying cars in the USA: what taxes does the seller have to pay?

[DireWolfM14]

I know nothing about buying cars in the USA: what taxes does the seller have to pay?

The federal government doesn't charge any taxes on private sales of used cars.  The money that people spend on cars has already been subjected to federal income tax, and since most cars depreciate in value there's no capitol gains.  Some states do charge sales tax on used car purchases, the buyer is responsible for paying those taxes.

[LoyceMobile]

Thanks. So what tax is OP taking about?

I want to sell it for crypto to avoid tax.

[lobsterhunter]

If I get paid in USD I then have to declare that as earnings to the IRS at the end of year, meaning I'd probably lose money. If I get paid in crypto I can just exchange it for GBP in couple years and pay whatever crypto gains tax there is in the UK - the IRS doesn't need to know

[dkbit98]

I imported a 1994 Mitsubishi Delica L400 Exceed from the UK and I want to sell it for crypto to avoid tax. Asking price is 0.00052ETH or 0.000032BTC. Registered in FL.

I don't think that transaction with ethereum is viable option here, since transaction fees are multiple times higher for that (I would suggest you remove this)
You can use Bitcoin just fine, especially on weekends.

If I get paid in USD I then have to declare that as earnings to the IRS at the end of year, meaning I'd probably lose money. If I get paid in crypto I can just exchange it for GBP in couple years and pay whatever crypto gains tax there is in the UK - the IRS doesn't need to know

I can understand that, but why asking for $1?
I don't knows whats the real market value of Mitsubishi Delica but I am sure it's more than one dollar.

[DireWolfM14]

Thanks. So what tax is OP taking about?

I don't know, I've never imported a car.  Maybe there're some tariffs that need to be paid, but I would imagine that would have been charged along with the importation fees, not when (if) the car is re-sold.  Good line of questioning though...  I would like to hear the OP's rational for that comment.

If I get paid in USD I then have to declare that as earnings to the IRS at the end of year, meaning I'd probably lose money. If I get paid in crypto I can just exchange it for GBP in couple years and pay whatever crypto gains tax there is in the UK - the IRS doesn't need to know

I think you're confused about that.  The IRS doesn't require you to claim proceeds from the sale of personal used goods as income.  Did you get charged fees and a tariff when you imported the car?

[lobsterhunter]

My bad I meant 5.26ETH or 0.32BTC. I've never seen one go for less than 15k USD - check DelicaUSA.

Is it full time AWD, or does it have a selector?  What size engine does it have?  Manual transmission?

2.8L Diesel, selector, automatic transmission.

I think you're confused about that.  The IRS doesn't require you to claim proceeds from the sale of used goods as income.  Did you get charged fees and a tariff when you imported the car?

Just checked and I think you're right. Weird - I swear to god I read that somewhere. Yes you pay a tiny fee when importing (<1% of what you paid for it in country of origin). To be honest I'm more interested in the principle of using crypto to sell a vehicle versus dodging taxes. I'm gonna make an NFT for it as well.

[lobsterhunter]

Just added more pics

[stompix]

been registered previously in the UK, Portugal, Armenia, Russia and Japan.

Bruh....
I'm making fun of my cousin cause his car is made in Germany and was registered in Poland, Slovakia, and the Czech Republic only to go back but this .
$10k? You must be joking, it's a 30year old van that goes for 3k euros in Europe at that mileage, you can order this one from Japan directly for example
https://www.sbtjapan.com/used-cars/mitsubishi/delica-space-gear/YN1112/?d_country=85&currency=2
5k with shipping.

2.8L Diesel, selector, automatic transmission.

And the driving wheel is on the......what side?

[DireWolfM14]

And the driving wheel is on the......what side?

Lol, good question!  It's right hand drive:



Nice little 4-wheeler.  It would be perfect on the narrow fire-roads where I hunt deer.  I'm going to have to pass, though, right-hand-drive is a show-stopper for me, and I agree with Shopmix; the price is a bit steep.  Advertise it on craigslist in the rural areas of the north-east and mid-west; a lot of postal workers in those areas have to drive their own cars, and many would love a right-hand-drive for obvious reasons.

[suchmoon]

I know nothing about buying cars in the USA: what taxes does the seller have to pay?

There is sales tax. You can't really avoid it regardless of how you pay for the vehicle as it's typically assessed at the time of registration. But that's usually buyer's problem.

There is capital gains tax, which is quite common these days given the crazy prices on used cars. But again, it doesn't matter how one gets paid for the car. If you made a profit - you have to pay the tax. Adding Bitcoin to the mix just complicates things because both the car sale and the Bitcoin sale are separate tax events. (edit - even if you don't make a profit on the car you have to track Bitcoin cost basis)

In any case, planning tax evasion on the internet, particularly given such a unique transaction, is asking for trouble.

[dkbit98]

My bad I meant 5.26ETH or 0.32BTC. I've never seen one go for less than 15k USD - check DelicaUSA.

Now you are going from one extreme to another, and I personally wouldn't spend that much money for 29 year old vehicle with that history and steering wheel on right side.
I guess someone could buy this car as a collectibles item made in Japan, and on other websites that sell used cards I found the same Delica for 6k or 7k (on jdmbuysell.com), or newer models for even less money.
You can't seriously use only DelicaUSA website if you want to know the real market value for your car, but good luck with your sale aka giveaway

There is sales tax. You can't really avoid it regardless of how you pay for the vehicle as it's typically assessed at the time of registration. But that's usually buyer's problem.

Is there a way to avoid paying taxes (or pay less) if previous owner declares that hi is giving away his car as a gift for free in United States?
Maybe he can register this car in some other countries like Mexico if he wants to avoid paying high extortion fees (just a crazy idea).
 

[DireWolfM14]

There is sales tax. You can't really avoid it regardless of how you pay for the vehicle as it's typically assessed at the time of registration. But that's usually buyer's problem.

Is there a way to avoid paying taxes (or pay less) if previous owner declares that hi is giving away his car as a gift for free in United States?
Maybe he can register this car in some other countries like Mexico if he wants to avoid paying high extortion fees (just a crazy idea).

Not all states charge sales tax on used vehicle purchases.  Oregon, New Hampshire, and Delaware (for example, I think there are more) have no sales tax at all.  When registering a purchased car (new or used) in those states, they don't charge sales tax.  When one sells a used car in California the seller needs to list the sale price on the back of the title (or bill of sale,) and taxes are assessed based on the county/city in which the purchaser lives.  The buyer has to pay the tax to the DMV when registering the vehicle.  Even if the car is given as a gift, the value of the car must be declared.  The only exception is if the car is transferred between family members. 

I've sold cars and had the buyer ask me to list a very low price on the title.  Kind of a shitty request to make, asking someone to commit perjury so you can save a few bucks...

As for registering cars out-of-state, California has had a problem with this for a long time.  Since our state government is as corrupt as any racketeering mafia and our registration fees reflect it, many people register their cars in Oregon because it's much cheaper.  Not long ago they started cracking down on people with Oregon license plates on their car and California addresses on their drivers licenses.

[suchmoon]

Is there a way to avoid paying taxes (or pay less) if previous owner declares that hi is giving away his car as a gift for free in United States?

Typically you still have to declare the "market" value and pay tax. I've seen people write a lower price on the bill of sale but that carries other risks (for example if the deal goes south, you have recourse only to the extent of the bill of sale value).

Usually not worth the risk for a few hundred bucks.

Maybe he can register this car in some other countries like Mexico if he wants to avoid paying high extortion fees (just a crazy idea).

Like DireWolfM14 mentioned, there are states without sales tax but registering a car there usually requires proof of residence, which also costs money to fake.

In the end you're saving like $800 on a $10000 used car... for most people it's not worth the hassle and the criminal repercussions.

And all that is applicable only to person-to-person sales, which is probably like 1% of car sales in the US. Dealerships will roll the tax into your 10-year loan along with $50k of negative equity from the previous vehicle and off you go