If you want to gift a car in Wisconsin, you\u2019ll need to complete a title transfer at the Wisconsin DOT.<\/p>\n\n\n\n
QUICK LOOK<\/span><\/span><\/div>\n\n
- When gifting a car in Wisconsin<\/a>, following the proper process can help you waive taxes and fees associated with a private vehicle sale.<\/li>\n\n\n\n
- In most cases, it\u2019s easier to transfer the title of a vehicle you already own, rather than gifting a brand-new car.<\/li>\n\n\n\n
- Car ownership comes with its own expenses\u2014so discussing the future costs of the gift, like car insurance<\/a>, is an important last step.<\/li>\n<\/ul>\n<\/div><\/blockquote>\n\n\n\n
How to buy a new car as a gift in Wisconsin<\/h2>\n\n\n\n
If your goal is to gift a brand-new car to a family member, friend, or loved one, it\u2019s usually best to include that person throughout the buying and financing process. Making them a part of the car buying process may not have the same effect as surprising them in your driveway, but it will<\/em> make the legal and financial aspects of car-buying a lot easier to complete.<\/p>\n\n\n\n
One reason for this is that you cannot gift a financed vehicle. Rather, you must pay off any car loans if you intend to transfer the vehicle\u2019s title to your recipient.<\/p>\n\n\n\n
Despite ruining the element of surprise, it\u2019s best to include your recipient so that you can ensure they get the car they want and avoid unexpected legal or financial stressors.<\/p>\n\n\n\n
Key Takeaway<\/span>You\u2019ll need the Certificate of Title in-hand before you can gift a car to someone else\u2014so if you\u2019re planning to gift a brand-new vehicle, bringing your giftee to the dealership can be helpful for everyone involved.<\/span><\/div><\/div><\/blockquote>\n\n\n\nHow to gift a used car in Wisconsin<\/h2>\n\n\n\n
In Wisconsin, the best way to gift a car is to transfer the title<\/a> of a vehicle you already own to your new recipient. But that doesn\u2019t mean that only old vehicles can be given as gifts!
While you could certainly give away an existing vehicle that you\u2019ve already paid for in full, you can also transfer the title of a brand new car, too. Whether you\u2019re preparing for a dramatic driveway reveal or just offloading a car you\u2019re not using to a loved one, the steps are the same.<\/p>\n\n\n\nHere\u2019s what you\u2019ll need to do:<\/strong><\/p>\n\n\n\n
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- Negotiate the terms of the gift:<\/strong> Since a title transfer is a necessary part of the gifting process\u2014and one that involves fees\u2014you must consider more than just the purchase price of the gifted car. In Wisconsin, a title transfer is fairly pricey compared to other states\u2014expect to pay $164.50 for the majority of title transfers, or $157 for a low-speed vehicle. The only situation in which title transfers are free is when the vehicle is inherited.<\/li>\n\n\n\n
- Record the gift: <\/strong>A bill of sale acts as a legal record of your transaction. By signing the bill of sale, both you and your recipient certify that you have agreed to the terms of the gift.<\/li>\n\n\n\n
- Transfer the title:<\/strong> The transfer of title is especially important, as it\u2019s how you officially transfer ownership of the car to your intended recipient.<\/li>\n<\/ul>\n\n\n\n
Transferring a car title in Wisconsin<\/h2>\n\n\n\n
The title transfer process for a gifted vehicle is more or less the same as with a private sale. In the case of a gifted or donated vehicle, the person gifting (or donating) the car acts as the seller, while the recipient acts as the purchaser.
In some cases, title transfers can be completed online or by mail. But whether you\u2019re starting the process virtually or in person at a Wisconsin Department of Transporation (WISDOT) office location, you\u2019ll need to make sure you bring the following required documents:<\/p>\n\n\n\n\n
- The current original title, assigned to you by the seller\/previous owner<\/li>\n\n\n\n
- A completed Title\/License Plate Application<\/a> (Form MV1)<\/li>\n\n\n\n
- A valid driver\u2019s license or ID<\/li>\n\n\n\n
- License plates to transfer to the vehicle<\/li>\n<\/ul>\n\n\n\n
Additionally, you\u2019ll also want to bring enough money to cover the vehicle registration fee and title transfer fees, along with any applicable taxes.<\/p>\n\n\n\n
Costs to discuss with your gift recipient<\/h2>\n\n\n\n
A car can be an incredible gift\u2014but once it\u2019s given, there will be costs for the new owner to consider. Here are some costs associated with car ownership that should be considered beforehand:<\/p>\n\n\n\n