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11.15.33.00.htm 11.15.33.00. Title 11 DEPARTMENT OF TRANSPORTATION Subtitle 15 MOTOR VEHICLE ADMINISTRATION ― VEHICLE REGISTRATION Chapter 33 Vehicle Trade-In Allowance Authority: Transportation Article, §12-104(b) 13-809, and 13-812, Annotated Code of Maryland
11.15.33.01.htm 11.15.33.01. 01 Applicability.. This chapter applies to the use of a dealer trade-in allowance to determine the total purchase price of a vehicle that is used to calculate the excise tax remitted when purchasing another vehicle.
11.15.33.02.htm 11.15.33.02. 02 Purpose.. The purpose of this chapter is to establish the requirements and guidelines for calculating the total purchase price of a vehicle when there is a dealer trade-in allowance, as set forth in Transportation Article, §13-809, Annotated Code of Maryland.
11.15.33.03.htm 11.15.33.03. 03 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Administration" means the Motor Vehicle Administration.. 2) "Certified selling price" means the full price of the vehicle purchased before the trade-in allowance is deducted.3) "Dealer" has the meaning stated in Transportation Article, §11-111, Annotated Code of Maryland.. 4) Lease.. a) "Lease" means a signed contract or agreement for the rental or leasing o
11.15.33.04.htm 11.15.33.04. 04 Total Purchase Price.. A. The total purchase price or taxable price of a vehicle is determined by the certified selling price agreed on by the buyer and the seller, including any dealer processing charges as defined in Transportation Article, §15-311.1, Annotated Code of Maryland, less an allowance for the trade-in. There is no other nonmonetary consideration.B. The taxable price of the vehicle shall include:. 1) The retail purchase price;. 2) The shipping or freight charges;.
11.15.33.05.htm 11.15.33.05. 05 Trade-in Allowance.. A. A dealer determines the trade-in allowance that is deducted from the purchase price of another vehicle.B. A trade-in allowance may not be divided or deducted from the purchase price of more than one vehicle.C. Only one traded-in vehicle can be applied to a sales transaction for purposes of the trade-in allowance deduction.D. A vehicle titled in Maryland or out-of-State may be used as a trade-in.. E. If the vehicle traded-in is subject to a lien,
11.15.33.06.htm 11.15.33.06. 06 Applying the Trade-in Allowance.. A. When applying a trade-in allowance to the certified selling price to determine the taxable price of the vehicle purchased, the dealer shall complete one of the following forms:1) Application for Certificate of Title (VR-5). 2) Maryland Dealers Reassignment (VR-182). 3) Dealers Reassignment on the reverse side of the Maryland Certificate of Title (VR-2). 4) The Dealer's or Auto Wreckers Re-Assignment on the reverse side of the M
11.15.33.07.htm 11.15.33.07. 07 Qualifications for Trade-in Allowance.. A. A trade-in allowance under Transportation Article, §13-809(a)3)i) Annotated Code of Maryland, shall only apply when:1) The owner or co-owner of the trade-in vehicle is the owner or co-owner of the vehicle being purchased; or2) The owner or co-owner of the trade-in vehicle is a relative as defined in §B of this regulation of the owner or co-owner of the vehicle being purchased.B. In this regulation, a relative means a spouse,
11.15.33.08.htm 11.15.33.08. 08 Trade-in Allowance for Leased Vehicles.. A. A trade-in allowance under Transportation Article, §13-809(a)3)ii) Annotated Code of Maryland, may be applied to the purchase price of a leased vehicle if:1) The trade-in is in the same owner's name as the name of the lessee on the purchased vehicle; or. 2) The vehicle is:. a) Owned by the same leasing company purchasing the vehicle;. b) Being assigned to the dealer; and. c) Becoming a part of the dealers inventory for resale..
11.15.33.9999.htm 11.15.33.9999. Administrative History Effective date: April 6, 2009 (36:7 Md. R. 526). Regulation .05A, C amended effective November 24, 2014 (41:23 Md. R. 1374). Regulation .05F adopted effective November 24, 2014 (41:23 Md. R. 1374). Regulation .06C amended as an emergency provision effective August 18, 2011 (38:19 Md. R. 1146) amended permanently effective November 14, 2011 (38:23 Md. R. 1422)
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