How risky is it to title the car in your name but still go over the limit on sales?
Hello.
I've never flipped a car before. I was thinking about trying it but the legal hoops you gotta jump through are ridiculous and honestly just government overreach.
I was curious how serious states take it when you buy the car, title it in your name (not register it), pay taxes on the sale and income, and sell the car. This way you're not floating the title. But say you sell 5-10 cars in a year, and your state's limit is 2 before needing a license, how likely are they to pursue that? At that point, you're doing better than the title jumpers at least, and are crossing into illegality when you sell more than the state's limit allows, but do they actually track that and care enough to shut you down?
Thanks for any responses. Might end up just forgetting the idea if it ends up being too much of a hassle, as I curse my corrupt government and the dealers that lobby for this kind of legislation.