Trade in - gift, registration

[Teslzilla]

Hi All

My family member wants to get rid of a car and are gifting it to me to trade in

1. Car is registered in another province
2. Looking to trade the car in ontario
3. My understanding is the trade in vehicle has to be in same name as the new vehicle registration to take advantage of saving tax on the trade in value
4. Will Tesla accept a trade w a temporary 10day registration under my name, once it has been officially gifted to me. I don’t see this being an issue but wanted to confirm if anyone has done this?

 

[marcham]

For you to sell it, it needs to be registered in your name. You'll pay taxes when you register it.

 

[Teslzilla]

Not if its a gift from a family member

 

[marcham]

Transfer ownership of a vehicle to a family member

Find out which family members qualify and what documents are required to transfer ownership of a vehicle.

www.ontario.ca

Depends on the relation.