Virginia Dealer Manual - Virginia Department of Motor Vehicles
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Virginia Dealer Manual - Virginia Department of Motor Vehicles

Virginia Dealer Manual - Virginia Department of Motor Vehicles Virginia Dealer Manual - Virginia Department of Motor Vehicles

dmv.virginia.gov
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02.11.2014 Views

Virginia Dealer’s Manual October 1, 2009 title to sell, title to export, or terminates employment with the mission. If a lien exists on the vehicle, it is recorded and a lien title is sent to the lien holder to protect the interest of the financial institution. When the vehicle is leased, a U.S. Department of State lien title will be sent to the lessor showing the leasing company as owner of the vehicle and the lessee as registered lessee. d. When the diplomat decides to dispose of the vehicle, the diplomat applies for a title to sell or title to export the vehicle. When the vehicle is leased, a U.S. Department of State lease title will be issued for disposition only by the owner (lessor) at the termination of the leasing contract. e. Additionally, if payments are not made according to the loan or leasing agreement, the creditor has the right to repossess the vehicle. The Diplomatic Motor Vehicle Office, however, asks that we be contacted for information, instructions or assistance prior to repossessing any vehicle. We will be happy to help you in this situation in order to avoid any of violation of international law. Diplomatic Motor Vehicle Office Diplomat DL's 202-895-3519 202-895-3532 202-895-3521 Department of State 2507 International Place Washington, DC 20008 - 51 - Virginia Department of Motor Vehicles

Virginia Dealer’s Manual October 1, 2009 Chapter 4: VIRGINIA MOTOR VEHICLE SALES & USE TAX & TITLE FEES • Code of Virginia: § 58.1, Chapter 24 4.1 DLR 400-VIRGINIA MOTOR VEHICLE SALES & USE TAX (SUT) 4.1.1 When the Dealer Must Collect SUT When you act on behalf of your customer and file application for vehicle title, you will have to collect from the customer and submit to DMV the appropriate motor vehicle sales and use tax within 30 calendar days of the purchase date. The following paragraphs explain: • The collection of the SUT • That it is based on the sales price of the vehicle • How to calculate the amount of SUT due on a particular title transaction • On which transactions an SUT adjustment may be permitted • Under what conditions a customer may be eligible for a refund of the SUT, and • Which titling transactions are exempt from SUT 4.1.2 Amount of SUT Collected A tax of three percent (3%) of a vehicle’s actual sales price and dealer processing fee, if applicable, is collected by DMV each time application is made to title the vehicle. The minimum tax on the sale of any vehicle is $35.00, unless if exempt. § 58.1-2402 Code of Virginia requires any “Dealer Processing Fee” assessed by a dealer in pursuant § 46.2-1530 (10) is to be included in the amount on which the Motor Vehicle SUT is calculated. 4.1.3 Sales & Use Tax is Based on Sale Price of Vehicle • The sale price shall include any reduction in price shown on the invoice for a manufacturer's discount or dealer's price discount since they directly reduce the sale price from the dealer to the consumer. SUT should not be collected on these price reductions or discounts. Rebates are not subtracted and must be taxed. • The sale price shall not include any credit given by the dealer for a trade-in, rebate, unpaid lien or other unpaid claim against the vehicle. SUT should be collected on these credits. • When a new owner assumes the payments on a debt obligation of the prior owner, SUT is assessed based on the unpaid balance of the debt plus any payment made to the prior owner. 4.1.4 Stated Sale Price Must be Reasonable If the sale price seems unreasonable when compared with the National Automobile Dealers Association Used Car Guide or similar publication, The DMV can require the owner to file Form SUT-1 as evidence of purchase price. - 52 - Virginia Department of Motor Vehicles

<strong>Virginia</strong> <strong>Dealer</strong>’s <strong>Manual</strong><br />

October 1, 2009<br />

title to sell, title to export, or terminates employment with the mission. If a lien<br />

exists on the vehicle, it is recorded and a lien title is sent to the lien holder to<br />

protect the interest <strong>of</strong> the financial institution. When the vehicle is leased, a U.S.<br />

<strong>Department</strong> <strong>of</strong> State lien title will be sent to the lessor showing the leasing<br />

company as owner <strong>of</strong> the vehicle and the lessee as registered lessee.<br />

d. When the diplomat decides to dispose <strong>of</strong> the vehicle, the diplomat applies for a<br />

title to sell or title to export the vehicle. When the vehicle is leased, a U.S.<br />

<strong>Department</strong> <strong>of</strong> State lease title will be issued for disposition only by the owner<br />

(lessor) at the termination <strong>of</strong> the leasing contract.<br />

e. Additionally, if payments are not made according to the loan or leasing<br />

agreement, the creditor has the right to repossess the vehicle. The Diplomatic<br />

<strong>Motor</strong> Vehicle Office, however, asks that we be contacted for information,<br />

instructions or assistance prior to repossessing any vehicle. We will be happy to<br />

help you in this situation in order to avoid any <strong>of</strong> violation <strong>of</strong> international law.<br />

Diplomatic <strong>Motor</strong> Vehicle Office<br />

Diplomat DL's<br />

202-895-3519<br />

202-895-3532<br />

202-895-3521<br />

<strong>Department</strong> <strong>of</strong> State<br />

2507 International Place<br />

Washington, DC 20008<br />

- 51 - <strong>Virginia</strong> <strong>Department</strong> <strong>of</strong> <strong>Motor</strong> <strong>Vehicles</strong>

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