Buddy has a truck is under his wifes name, so is the loan.
When you trade-in the vehicle, for the tax credit to be applied, the new vehicle needs to be under the traded-in vehicles name.
But does it matter under who's name the lien is?
Buddy wants the next truck under his name for tax purposes and claiming expenses under his company, not sure why he wants the wife out of the equation but he has to apparently.
So he would transfer his truck now in his name with the SAAQ form about family/spouse transfer(no tax paid), then trade it in with the liens to be paid of that's under his wifes name, get new truck under his name with loan/lien under his name now.
Does that make sense?
When you trade-in the vehicle, for the tax credit to be applied, the new vehicle needs to be under the traded-in vehicles name.
But does it matter under who's name the lien is?
Buddy wants the next truck under his name for tax purposes and claiming expenses under his company, not sure why he wants the wife out of the equation but he has to apparently.
So he would transfer his truck now in his name with the SAAQ form about family/spouse transfer(no tax paid), then trade it in with the liens to be paid of that's under his wifes name, get new truck under his name with loan/lien under his name now.
Does that make sense?