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BMW Gift
Anon
2012-Dec-31 3:56 pm
[Serious] BMW 2002 from my mother as a giftI am a full time student in another province - manitoba, and my mother has a bmw 2002 5series car she is giving to me as an early gift for graduating college. Wondering the best way to transfer the car with none, or lowest taxes to be paid as possible. MPI (in manitoba) said I may still have to pay the gold book value X 7% still...their not even sure how to go about it. My mother already paid taxes for it in Ontario...Even if my mom put on the BOS that I bought it for like $2000, MPI here in manitoba still said they might still base the taxes on the gold book value... Anyone with any other suggestions or thoughts as to how I should go about this, would be greatly appreciated Theres also the option of transferring my vehicle now under my name in Ontario, to the BMW and registering it here in manitoba as a Full time student...not sure if i'll still have to pay taxes and get a safety...I'm so lost... please help, and thank you for your time. |
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Transfer the registration to yourself in Ontario at the MTO, it's tax exempt between family members, then if you really want to you can register it in Manitoba under your own name. |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
said by dragonfly5:Transfer the registration to yourself in Ontario at the MTO, it's tax exempt between family members, then if you really want to you can register it in Manitoba under your own name. The transfer from mother to child is easy, but does require a Commissioner of Oaths. Talk to Service Ontario and the MTO for more info. You may not need to re-register the car in Manitoba if your permanent residence as a student is in Ontario. Check with the Manitoba licensing office first. Also make sure you are listed the principal driver on the car and that your insurance company knows your status. |
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lugnut to BMW Gift
Anon
2012-Dec-31 5:09 pm
to BMW Gift
I agree 100% with dragonfly on this.
Go to an MTO office with your mom with the car appropriately safety and smog checked having all the paperwork ready. When you get there, you will have to swear in front of the notary that your mom is gifting you the car. (Do not declare a value like $1).
You will sign a couple of papers and then you can make the transfer without any tax burden.
That's how I did it once with my dad 20 years ago. |
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to dragonfly5
@ DragonflyThanks for that, Thats the best option! I have a focus registered Ontario, then take that off transfer it to the BMW, And keep the Ontario plates as I am gonna register it full time student here in Manitoba. |
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BMW Gift |
BMW Gift to DKS
Anon
2012-Dec-31 5:54 pm
to DKS
@ DKSlol cool screen name ! Thanks, I will forsure find the C of O form, I'm a resident here in Manitoba, for college, but go back home after semesters, back n forth kinda thing. Does being principal driver of the BMW really help with anything.... my mom would not be connected in any way after I transfer it to myself... no? apologies if these sound like confusing Duh like questions... And thanks for all the feedback! |
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to lugnut
Re: [Serious] BMW 2002 from my mother as a giftEnsure that the MTO office has a notary available first or you can provide your own sworn and notarized statement.
It costs you to use the MTO notary as well.
Good Luck |
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peterboro (banned)Avatars are for posers join:2006-11-03 Peterborough, ON |
to lugnut
said by lugnut : Go to an MTO office with your mom with the car appropriately safety and smog checked having all the paperwork ready. When you get there, you will have to swear in front of the notary that your mom is gifting you the car. (Do not declare a value like $1). You don't need the safety or E-test to transfer. |
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peterboro |
to joeblow3
said by joeblow3:Ensure that the MTO office has a notary available first or you can provide your own sworn and notarized statement. It costs you to use the MTO notary as well. Good Luck I do this all the time. The Service Ontario does not charge and they always have someone who can sign the declaration at least when I have gone in. |
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koiraHey Siri Walk Me Premium Member join:2004-02-16 |
to BMW Gift
Is this a model year 2002 5 series or an actual 2002? |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
to peterboro
said by peterboro:said by joeblow3:Ensure that the MTO office has a notary available first or you can provide your own sworn and notarized statement. It costs you to use the MTO notary as well. Good Luck I do this all the time. The Service Ontario does not charge and they always have someone who can sign the declaration at least when I have gone in. Must be new. I had to take the form to City Hall and pay $35 to swear the affidavit. |
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to peterboro
said by peterboro:said by lugnut : Go to an MTO office with your mom with the car appropriately safety and smog checked having all the paperwork ready. When you get there, you will have to swear in front of the notary that your mom is gifting you the car. (Do not declare a value like $1). You don't need the safety or E-test to transfer. I'm assuming he wants to be able to plate it and drive it after the transfer. Without the smog test and safety and insurance he wouldn't even be able to drive it to a garage to get it certified after making the transfer so better to get all the ducks in a row BEFORE signing the transfer papers. |
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lugnut |
lugnut to DKS
Anon
2012-Dec-31 7:28 pm
to DKS
said by DKS:said by peterboro:said by joeblow3:Ensure that the MTO office has a notary available first or you can provide your own sworn and notarized statement. It costs you to use the MTO notary as well. Good Luck I do this all the time. The Service Ontario does not charge and they always have someone who can sign the declaration at least when I have gone in. Must be new. I had to take the form to City Hall and pay $35 to swear the affidavit. How do you define "New?" I did it twenty years ago and I paid no fee and the notary was right in the MTO office to handle the formalities. It's not like they're not already making a bundle on the meaningless paper pushing to begin with |
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peterboro (banned)Avatars are for posers join:2006-11-03 Peterborough, ON |
to DKS
said by DKS: Must be new. I had to take the form to City Hall and pay $35 to swear the affidavit. The Service Ontario here usually had someone on staff that would do it. Now if one lives in a small little hamlet like say Owen Sound then maybe they don't have one. |
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peterboro |
to lugnut
said by lugnut : I'm assuming he wants to be able to plate it and drive it after the transfer. Without the smog test and safety and insurance he wouldn't even be able to drive it to a garage to get it certified after making the transfer so better to get all the ducks in a row BEFORE signing the transfer papers. True dat. |
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to DKS
said by DKS:said by peterboro:said by joeblow3:Ensure that the MTO office has a notary available first or you can provide your own sworn and notarized statement. It costs you to use the MTO notary as well. Good Luck I do this all the time. The Service Ontario does not charge and they always have someone who can sign the declaration at least when I have gone in. Must be new. I had to take the form to City Hall and pay $35 to swear the affidavit. +1 |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
to lugnut
I did it five years ago and had to pay for the affidavit to be sworn. I see now that the local SO office offers the service. |
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nitzguy Premium Member join:2002-07-11 Sudbury, ON |
to peterboro
said by peterboro:said by lugnut : Go to an MTO office with your mom with the car appropriately safety and smog checked having all the paperwork ready. When you get there, you will have to swear in front of the notary that your mom is gifting you the car. (Do not declare a value like $1). You don't need the safety or E-test to transfer. You need the Safety...here in life above Highway 7 land...well I don't know how far the DriveClean program goes, but no DriveClean required up where I live, so just need the safety, the Local Chamber of Commerce here does the licensing, I put my hand on a bible or nothing should I choose and swear that its a transfer, nitz's mom did the same thing, and poof, he was the proud owner of a 2007 Ford Freestyle...total charge...$10. Nitz did have to pay for the safety of the vehicle though as they won't let you register/plate the vehicle without it.... So...depending on where you live, you may not require the E-test, but the Safety is a must...even when transferring between family members. |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
said by nitzguy:So...depending on where you live, you may not require the E-test, but the Safety is a must...even when transferring between family members. Same for up here. No DriveClean, ever. |
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to BMW Gift
just noticed, im surprised, usually things in ontario are simpler than in quebec, in quebec to gift a car all you do is fill out the form and they ask no questions, none of this swearing in front of a notary. Im quite surprised |
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BMW Gift
Anon
2013-Jan-1 10:46 am
Thank you !!!Wow! thanks all for the input and guidance! ok, so I am not in Ontario rightnow, however Im thinking fax and forms on the web and mailing it to my moms, would be just as good? Also, after the transfer if all goes well, It will be picked up right in the parking lot in Ontario by the shipping company and put on a train or semi, straight to my parking lot here in Manitoba. That should be ok? and for real? no safety or etest is needed?(while transferring in Ontario) even better! From my parking lot here, we will either slap a d-plate to get from here in there temporarily for whatever reason. Anyway, so once it is here in Manitoba, my next step would be to provide my full time student docs and have that special full time student sticker? not sure if its a sticker or whatever it is. I have my Ontario plate from my old car with me, that I will transfer the BMW to in Ontario... Does that all makes sense? Is that the right direction? Also, this notary and "swearing thing, does that mean I have to be in Ontario personally? cuz I'm already starting college tomorrow And again, thank you all for the guidance. Have yourselves a splendid 2013 all year round! |
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peterboro (banned)Avatars are for posers join:2006-11-03 Peterborough, ON |
to nitzguy
Re: [Serious] BMW 2002 from my mother as a giftsaid by nitzguy: So...depending on where you live, you may not require the E-test, but the Safety is a must...even when transferring between family members. The peterboro does this all the time....remember he has 15 cars on his front yard alone. To transfer alone to a family member you need nothing but the $10.00. To transfer fit to fit you need a safety unless it is a spouse. To transfer fit to fit and a valid plate (not trip permit plate) and non spouse but family you need safety and E-test (south Ontario only). |
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peterboro |
to BMW Gift
Re: Thank you !!!said by BMW Gift :Wow! thanks all for the input and guidance! ok, so I am not in Ontario rightnow, however Im thinking fax and forms on the web and mailing it to my moms, would be just as good? Also, after the transfer if all goes well, It will be picked up right in the parking lot in Ontario by the shipping company and put on a train or semi, straight to my parking lot here in Manitoba. That should be ok? and for real? no safety or etest is needed?(while transferring in Ontario) even better! From my parking lot here, we will either slap a d-plate to get from here in there temporarily for whatever reason. Anyway, so once it is here in Manitoba, my next step would be to provide my full time student docs and have that special full time student sticker? not sure if its a sticker or whatever it is. I have my Ontario plate from my old car with me, that I will transfer the BMW to in Ontario... Does that all makes sense? Is that the right direction? Also, this notary and "swearing thing, does that mean I have to be in Ontario personally? cuz I'm already starting college tomorrow And again, thank you all for the guidance. Have yourselves a splendid 2013 all year round! Your mother will not be able to do the transfer in Ontario without you. You will need to ship the car to you with her signing the ownership. Then find out what your province needs to satisfy the transfer between family members and have your mother send that as well. Being the government, and wanting their tax, it may be without her physically in your province they will not allow the transfer between family member exemptions. |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
said by peterboro:said by BMW Gift :Wow! thanks all for the input and guidance! ok, so I am not in Ontario rightnow, however Im thinking fax and forms on the web and mailing it to my moms, would be just as good? Also, after the transfer if all goes well, It will be picked up right in the parking lot in Ontario by the shipping company and put on a train or semi, straight to my parking lot here in Manitoba. That should be ok? and for real? no safety or etest is needed?(while transferring in Ontario) even better! From my parking lot here, we will either slap a d-plate to get from here in there temporarily for whatever reason. Anyway, so once it is here in Manitoba, my next step would be to provide my full time student docs and have that special full time student sticker? not sure if its a sticker or whatever it is. I have my Ontario plate from my old car with me, that I will transfer the BMW to in Ontario... Does that all makes sense? Is that the right direction? Also, this notary and "swearing thing, does that mean I have to be in Ontario personally? cuz I'm already starting college tomorrow And again, thank you all for the guidance. Have yourselves a splendid 2013 all year round! Your mother will not be able to do the transfer in Ontario without you. You will need to ship the car to you with her signing the ownership. Then find out what your province needs to satisfy the transfer between family members and have your mother send that as well. Being the government, and wanting their tax, it may be without her physically in your province they will not allow the transfer between family member exemptions. +1. |
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nitzguy Premium Member join:2002-07-11 Sudbury, ON |
to peterboro
Re: [Serious] BMW 2002 from my mother as a giftsaid by peterboro:said by nitzguy: So...depending on where you live, you may not require the E-test, but the Safety is a must...even when transferring between family members. The peterboro does this all the time....remember he has 15 cars on his front yard alone. To transfer alone to a family member you need nothing but the $10.00. To transfer fit to fit you need a safety unless it is a spouse. To transfer fit to fit and a valid plate (not trip permit plate) and non spouse but family you need safety and E-test (south Ontario only). Oops, you're right....but I'm assuming the OP wants Fit to Fit...of course it was only $10 to transfer it into my name ....then I needed the cert to get the plates which was a separate transaction after my mother had already left the DOT. I was just thinking fit to fit....not all of us have front yards capable of holding a small used car dealership on them . |
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MaynardKrebsWe did it. We heaved Steve. Yipee. Premium Member join:2009-06-17 |
to BMW Gift
said by BMW Gift :.... my mother has a bmw 2002 5series car she is giving to me as an early gift for graduating college.
Depending on how well your mother maintained the 5-series and the mileage it has, you *might* want to look that gift horse in the mouth, get her to sell it her & give you the cash instead. Then you go & buy a used 3-series in the US with extended warranty and import it. Is it a 528/530 or 540? The 6 cyl. variety is less costly to repair than the V-8 540. If it's a 540 with a) >120,000km then you REALLY want to replace the timing chain guides NOW ($1200+), and the water pump, the thermostat, and a few other bits (rad hoses, etc...) while you are at it (figure $2k +tax all-in). Do this every 120,000Km. b) If it has the ZF Steptronic automatic transmission and the car has >100,000Km - do NOT ever replace the transmission fluid - that can cause more problems than it could potentially solve. Either model - You probably also want to replace the front suspension ball joints + tie rods @ 100,000Km [540] or 120,000Km [528/530] (~$800-$1000). Ditto for carefully checking the radiator for signs of failure/leaks. Also at that age you will want to make sure that the hood release cable and latching mechanisms are not showing signs of seizing. Take the car to a good alignment shop (not a dealer) and get the wheels aligned to factory specs (~$100) - the procedure is VERY specific, including adding weight (50Kg IIRC) in the trunk while the alignment is done. These cars NEED 4 proper winter tires if you are driving in any non-city areas or expect to move when it is snowing, especially the 540. Dunlop Winter Sport 3D is exceptionally good on the 5-series and is priced right. At that age I suggest you find a good independent BMW mechanic, stay away from the dealer whenever po$$ible, and source major parts from a wrecker when needed/available or order parts from US dealers for 50-70 cents on the dollar vs. here. Electrical/computer repairs can be hellishly expensive out-of-warranty, ie. a water-cooled 540 alternator is $1000+ installed. Door seals need to be treated every winter to prevent freezing to the doors. Install a new battery every 3 years [540] or 4 years [528/530] as the 5-series really sucks electricity. www.realoem.com and www.getbmwparts.com are your friends. That said, the E39 BMW (1997-2003 5-series) is the best 5-series ever and a bloody joy to drive (especially the 540). Signed, A former 540 owner |
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BMW GIFT
Anon
2013-Jan-1 7:51 pm
ay yay yay...its getting complicated now.. lol anyway - ok so I feel comfortable now in terms of requesting the actual province vehicle places the best option. I could get my mom to sign the ownership to me that simple and then ship it rightaway? Is it that simple? along with the Sworn Statement for a Family Gift of a Used Motor Vehicle Form, I found this form on the MTO website... I will inquire more here in Manitoba about how the transfer will be honored here.... Thanks again everyone! As far as selling, I will be looking into that after the summer, my mom has no time - mint condition 174K, and all those maintenance tips! thats great ! Thanks ! |
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lugnut
Anon
2013-Jan-1 8:35 pm
One last tidbit concerning where exactly you want to register the vehicle. I assume you're under or near 25 years old since you mentioned you're a student.
Licensing the vehicle in ON means you pay ON insurance rates which are insane for a BMW for someone your age. Probably something insane like $4K or $5K per year in your case.
Manitoba has provincial insurance rates which are well below what you'd pay for the same vehicle in Ontario.
The savings may be much greater in the long run if you plate the vehicle in MB regardless of the sales tax savings. |
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