My sister recently got rear-ended and had her car totalled. She is unable to drive yet, but she is going to want to buy something in the next few months. I visited her recently and got her to check out vehicles. She’s basically decided on a small SUV (Honda CRV, Toyota RAV4, Nissan Rogue, etc.) but is waiting on money from the settlement. She has not been released to drive yet anyway, and has an old truck to get around in until she buys something. She lives in a rural area in Mississippi and there are very few used SUV’s within 50 miles I found with my online search. The dealership we did go to was not negotiating off the listed price either for the used ones we test drove. I live in Houston TX, and have found many SUVs online with similar mileage and model year for approximately $3,000 cheaper. I think it’s just a matter of Houston being a very competitive car market and where she is, basically they can get what they ask for since you have so few choices.
Bottomline, I told her when she wants to buy one, that I can search here, email her all the ones within her mileage/price parameters, go check out the ones she likes, and then buy one for cash. I know she would forward me the money, and I would have to title it in my name (I assume). Then, I would drive it back to her in MS, and I just ask her to buy me a one-way airline ticket back to Houston.
I think, even when she has to register it in MS, she will save $2,000-$2,500, even after paying taxes on it again in MS. And I assume I can just sign the title over to her. I have bought a car out of state before and done this, fly there, picked it up at the airport, drove it home, and then just paid the taxes on it.
Anyone see any problem with this? Any steps I am missing or problems with doing this? Thanks in advance.