Help!!!!! Help!!!!! Help!!!!!! [price protection]

jnag698 · 02-13-2007, 05:03 PM

Problem with the "price protection".

I ordered a RL last year. It finally arrived. I want to title it, for tax purposes, in my company name ( I'm a ONE-man company). Saturn dealer says that it has to be titled the way it was ordered (my name), to get the price protection. I was NEVER informed of this when I ordered it, and the dealer says that they didn't know about it until recently (long after I ordered it). The dealer has been GREAT about trying to contact the right people and get the problem resolved, but to no avail so far.

Has anyone else had this problem? How was it resolved? Any contacts in GM/Saturn?

Thanks for any assistance.

GaryH · 02-13-2007, 05:08 PM

Buy it in your name. Then sell it to your company.

F.O.G. · 02-13-2007, 05:09 PM

This sounds strange. The title doesnt' come into play until its delivered to you correct? Once it is in the dealers possession, why will you need price protection? OR if necessary, can you buy it and then sell it to your company the next day?

deluke · 02-13-2007, 05:10 PM

Quote:

Originally Posted by jnag698

Problem with the "price protection".

I ordered a RL last year. It finally arrived. I want to title it, for tax purposes, in my company name ( I'm a ONE-man company). Saturn dealer says that it has to be titled the way it was ordered (my name), to get the price protection. I was NEVER informed of this when I ordered it, and the dealer says that they didn't know about it until recently (long after I ordered it). The dealer has been GREAT about trying to contact the right people and get the problem resolved, but to no avail so far.

Has anyone else had this problem? How was it resolved? Any contacts in GM/Saturn?

Thanks for any assistance.

He's right it has to be in the name it was ordered to be price protected. This is GM's policy. Don't blame your dealership. And I don't think there would be any way around it. But you probably could put your name first then the company name down under yours as maybe dba. I'm pretty sure this would work. But you can check with Sky Spy he will know more then me.

deluke · 02-13-2007, 05:10 PM

Quote:

Originally Posted by GaryH

Buy it in your name. Then sell it to your company.

Then you pay sales tax twice.

jnag698 · 02-13-2007, 05:14 PM

Exactly....

Paying sales tax TWICE.

Putting it in my name DBA company name is a BIG RED FLAG to the IRS and will probably be disallowed. Plus, it's still NOT technically the way it's ordered.

duck833 · 02-13-2007, 05:31 PM

Single owner business, an LLC? perhaps?

In 35 years of practice I can not think of one time that I have had an agent look at a car title. I do not live in a sales tax state but I have a hard time thinking that if you transfer the title from an individual to a related corp that they will charge you sales tax. What about when an individual transfers title from an individual into a living trust? What about when you give a car to a child and transfer title, do they charge you sales tax?

If you are a single owner LLC the IRS does not even look at the entity. You file as a sole prop - Schedule C, the name on the title would not enter into it.

MidniteBlues · 02-13-2007, 05:41 PM

Just sell it to your company for $10.00 dollars, pay the tax on that.

skyfan · 02-13-2007, 05:57 PM

In Ohio you can gift the car to a friend or realative without paying sales tax. Check into your state laws. Maybe you can transfer it over to the company since you are one and the same entity. Check with you accountant. If I were you, I would take the guarantee price and either lease it to your company or use it in the company and pay yourself mileage or, depreciate as if it were in the company name. That may not be exactly legal but I'd try it.

SKYtime · 02-13-2007, 06:04 PM

You need to check with your state as to whether there is a "grace period" or some period that permits the successive transfer of title to a motor vehicle wiithout having to pay the tax multiple times. This is sometimes permitted because of "straw parties," etc.

MidniteBlues · 02-13-2007, 06:11 PM

Quote:

Originally Posted by skyfan

In Ohio you can gift the car to a friend or realative without paying sales tax. Check into your state laws. Maybe you can transfer it over to the company since you are one and the same entity. Check with you accountant. If I were you, I would take the guarantee price and either lease it to your company or use it in the company and pay yourself mileage or, depreciate as if it were in the company name. That may not be exactly legal but I'd try it.

Good point, you just fill out the 2106 Form every year with the IRS--Oh & BTW, it IS legal--

MattBrenner03 · 02-13-2007, 06:32 PM

Quote:

Originally Posted by jnag698

Problem with the "price protection".

I ordered a RL last year. It finally arrived. I want to title it, for tax purposes, in my company name ( I'm a ONE-man company). Saturn dealer says that it has to be titled the way it was ordered (my name), to get the price protection. I was NEVER informed of this when I ordered it, and the dealer says that they didn't know about it until recently (long after I ordered it). The dealer has been GREAT about trying to contact the right people and get the problem resolved, but to no avail so far.

Has anyone else had this problem? How was it resolved? Any contacts in GM/Saturn?

Thanks for any assistance.

I'm having same problem. I changed my name (step-dad adopted me) in december and they won't let me title it in my new name. Absolutely obserd, what if I was a woman and got married? Apparently they think it is insane for anyone to ever change their name. So i'm going to have to get it titled in my old name, brenner, then switch it to my new name later, pointless.

BLUESTONETURBO · 02-13-2007, 07:06 PM

So your new name is Mr. Pointless?

jnag698 · 02-13-2007, 07:57 PM

Quote:

Originally Posted by duck833

Single owner business, an LLC? perhaps?

In 35 years of practice I can not think of one time that I have had an agent look at a car title. I do not live in a sales tax state but I have a hard time thinking that if you transfer the title from an individual to a related corp that they will charge you sales tax. What about when an individual transfers title from an individual into a living trust? What about when you give a car to a child and transfer title, do they charge you sales tax?

If you are a single owner LLC the IRS does not even look at the entity. You file as a sole prop - Schedule C, the name on the title would not enter into it.

I'm a C-corp, so it gets a little stickier with the IRS. The C - corp is a separate legal entity. That's why the DBA bit is a problem. Buying it in my name and leasing it to the corp is a problem because I, as a person, would have to borrow to buy it, whereas my corp could buy it outright. Plus the IRS may look at it as not passin the "laugh test" (If the idea makes you laugh, it won't fly by the IRS). I'll have to check about transfering the title.

If anyone else is having this problem with "price protection", let me know. Numbers may make GM change their tune.

Also, how do I get this into the "buying your SKy" forum?

**James L. Lee** · 02-13-2007, 09:04 PM

Quote:

Originally Posted by jnag698

Problem with the "price protection".

I ordered a RL last year. It finally arrived. I want to title it, for tax purposes, in my company name ( I'm a ONE-man company). Saturn dealer says that it has to be titled the way it was ordered (my name), to get the price protection. I was NEVER informed of this when I ordered it, and the dealer says that they didn't know about it until recently (long after I ordered it). The dealer has been GREAT about trying to contact the right people and get the problem resolved, but to no avail so far.

Has anyone else had this problem? How was it resolved? Any contacts in GM/Saturn?

Thanks for any assistance.

I had a similar problem about the price protection...I had ordered the car with a check from a Trust Account...legal residence is FL...car ordered in WI...car had to registered in the state of the trust (FL) to take advantage of the price protection...the SKY RL will remain in WI as a summer car but to take advantage of the price protection is registered in FL...it will have a FL plate...WIS SKY...the good part about this is that FL only requires the back plate while WI requires front and back...so I get a cleaner look...FL has a sales tax and they even taxed the discount of the price protection and the $500 I put down on the car saying the price protection was the equivalent of a "discount coupon" which is taxable...

In FL they do not charge tax on transfering the title once the tax on the car has been paid...check your own state...

**Skip** · 02-13-2007, 09:29 PM

Quote:

Originally Posted by BLUESTONETURBO

So your new name is Mr. Pointless?

LMAO....Skip....

**Skip** · 02-13-2007, 09:31 PM

Quote:

Originally Posted by jnag698

I'm a C-corp, so it gets a little stickier with the IRS. The C - corp is a separate legal entity. That's why the DBA bit is a problem. Buying it in my name and leasing it to the corp is a problem because I, as a person, would have to borrow to buy it, whereas my corp could buy it outright. Plus the IRS may look at it as not passin the "laugh test" (If the idea makes you laugh, it won't fly by the IRS). I'll have to check about transfering the title.

If anyone else is having this problem with "price protection", let me know. Numbers may make GM change their tune.

Also, how do I get this into the "buying your SKy" forum?

Ask a mod to transfer to that thread....Skip...PM a mod...

shamayim · 02-13-2007, 09:35 PM

Quote:

Originally Posted by BLUESTONETURBO

So your new name is Mr. Pointless?

That's funny and I think that Marlboro Mike would agree if I understand his sense of humor as I think I do.

MattBrenner03 · 02-14-2007, 02:43 AM

Quote:

Originally Posted by BLUESTONETURBO

So your new name is Mr. Pointless?

ha you are funny. No it's Kramer but if it was pointless I should still be able to title it that way and get my price protection.

F.O.G. · 02-14-2007, 08:09 AM

OH yea, sales tax twice....Good catch guys, I didnt think of that. I guess thats why we help each other out here.

SKY Spy · 02-14-2007, 08:53 AM

Quote:

Originally Posted by deluke

He's right it has to be in the name it was ordered to be price protected. This is GM's policy. Don't blame your dealership. And I don't think there would be any way around it. But you probably could put your name first then the company name down under yours as maybe dba. I'm pretty sure this would work. But you can check with Sky Spy he will know more then me.

You are correct deluke...

This IS General Motor's policy and NOT your Retailers. They created the rules we go by here since it's their money we are talking about.

The GM document states that, for the Price Protection to be honored, the named owner on the Buyer's Order must be EXACTLY the SAME as it was in the ORIGINAL ORDER entered into VOMS.

For the person that their name changed, you should be able to still get your Price Protection by providing the Retailer a copy of the Legal Document that shows your name change. They can keep this document inside their Deal Jacket and use it if they are ever audited by GM. They can also call the Dealer Business Center to confirm all this. They just need to perform a few more steps for you.

Regards,

BA...

02-13-2007, 05:03 PM	#1 (permalink)
jnag698 First 2000 Sr. Member Join Date: Mar 2006 Location: Mason, Ohio Posts: 220 My Photos: (0)	Help!!!!! Help!!!!! Help!!!!!! [price protection] Problem with the "price protection". I ordered a RL last year. It finally arrived. I want to title it, for tax purposes, in my company name ( I'm a ONE-man company). Saturn dealer says that it has to be titled the way it was ordered (my name), to get the price protection. I was NEVER informed of this when I ordered it, and the dealer says that they didn't know about it until recently (long after I ordered it). The dealer has been GREAT about trying to contact the right people and get the problem resolved, but to no avail so far. Has anyone else had this problem? How was it resolved? Any contacts in GM/Saturn? Thanks for any assistance.

02-13-2007, 05:08 PM	#2 (permalink)
GaryH First 2000 Sr. Member Join Date: Apr 2006 Location: Fairhope, Al Posts: 1,377 My Photos: (0)	Buy it in your name. Then sell it to your company. __________________ Silver Pearl Black/Black leather LSD CD/MP3 XM satellite 5 speed manual VIN#1745 Fiamm horn Magnaflow Quad Tip Exhaust

02-13-2007, 05:31 PM	#7 (permalink)
duck833 Senior Member Join Date: Sep 2006 Location: Eugene, Oregon/Scottsdale, AZ Posts: 417 My Photos: (0)	CPA/duck833 Single owner business, an LLC? perhaps? In 35 years of practice I can not think of one time that I have had an agent look at a car title. I do not live in a sales tax state but I have a hard time thinking that if you transfer the title from an individual to a related corp that they will charge you sales tax. What about when an individual transfers title from an individual into a living trust? What about when you give a car to a child and transfer title, do they charge you sales tax? If you are a single owner LLC the IRS does not even look at the entity. You file as a sole prop - Schedule C, the name on the title would not enter into it. __________________ Ordered cars at two dealerships, ended up snagging one at Saturn of Beaverton, Oregon Member of the Snaggers Club RED Line Yellow Magna-Flow. CAI, chromies, stubby ant Loaded

02-13-2007, 05:41 PM	#8 (permalink)
MidniteBlues Senior Member Join Date: Aug 2006 Location: Florida Posts: 3,580 My Photos: (0)	Just sell it to your company for $10.00 dollars, pay the tax on that. __________________ 2.4L Midnight Blue, Premium Trim Package, Automatic, Monsoon Pre Audio 1-CD, Std Rear. GMPP CAI, 3M Clear Bra, Splash Guards, Black Top, Fiam Frwy Blastr 2-horn Opel Ant - WR V2 - Flux Capacitor -

02-13-2007, 05:57 PM	#9 (permalink)
skyfan First 2000 Sr. Member Join Date: Sep 2005 Location: Cincinnati, OH Posts: 380 My Photos: (0)	Take the lower price. In Ohio you can gift the car to a friend or realative without paying sales tax. Check into your state laws. Maybe you can transfer it over to the company since you are one and the same entity. Check with you accountant. If I were you, I would take the guarantee price and either lease it to your company or use it in the company and pay yourself mileage or, depreciate as if it were in the company name. That may not be exactly legal but I'd try it. __________________ "1 HOT SKY" Cincinnati, OH Ohio Valley Kappa Club www.ohiovalleykappas.com (2) Redline order placed 5/15/06 & delivered 01/30/07Red w/ Tan Manual Cd Monsoon w/ Chrome Wheels Other car 2003 3.0 ltr Z4

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02-13-2007, 05:09 PM	#3 (permalink)
F.O.G. Member Join Date: Feb 2007 Location: Mass Posts: 94 My Photos: (0)	This sounds strange. The title doesnt' come into play until its delivered to you correct? Once it is in the dealers possession, why will you need price protection? OR if necessary, can you buy it and then sell it to your company the next day?

02-13-2007, 05:14 PM	#6 (permalink)
jnag698 First 2000 Sr. Member Join Date: Mar 2006 Location: Mason, Ohio Posts: 220 My Photos: (0)	Exactly.... Paying sales tax TWICE. Putting it in my name DBA company name is a BIG RED FLAG to the IRS and will probably be disallowed. Plus, it's still NOT technically the way it's ordered.

02-13-2007, 06:04 PM	#10 (permalink)
SKYtime First 2000 Sr. Member Join Date: Apr 2006 Location: Newark, Delaware Posts: 1,125 My Photos: (0)	You need to check with your state as to whether there is a "grace period" or some period that permits the successive transfer of title to a motor vehicle wiithout having to pay the tax multiple times. This is sometimes permitted because of "straw parties," etc. __________________ Silver Graphite 2.4L Prem Trim/Blk Lthr/Blk Top Manual Trans. 6-disk Monsoon System Chrome Wheels LSD Pre-Order: 4/06 Order Date: 9/27/06 To Dealer: 10/17/06 Picked up: 10/18/06 VIN: 14489 No mand. add-ons/MSRP Codename: JUSTICE

02-13-2007, 07:06 PM	#13 (permalink)
BLUESTONETURBO Member Join Date: Nov 2006 Location: Ohio Posts: 6 My Photos: (0)	So your new name is Mr. Pointless?

02-14-2007, 08:09 AM	#20 (permalink)
F.O.G. Member Join Date: Feb 2007 Location: Mass Posts: 94 My Photos: (0)	OH yea, sales tax twice....Good catch guys, I didnt think of that. I guess thats why we help each other out here.