i was curious how much taxes do you guys pay when you go register your car at the dmv? is there a way you guys can pay less buy the owner saying you paid less then what u really paid for it. i would really appreciate some kind of help on this since im picking up my s2k saturday and registering it next week.

 

i forgot to mention im from new york

 

Rumor is, the amount of tax charged on the sale of a car is dependent upon the agreed amount of the sale. So in theory, if one paid 10k, but both parties agreed that the receipt amount is 5k, then one would be taxed on 5k.

That would be illegal though.

 

Defrauding your state sounds like a great idea.

 

ok but now how do you prove that both parties agreed to 5k becaused the guy said he is willing to put a lower price since im buying the car cash for 11k

 

yea defrauding my state is a great idea from all the ridiculous tickets i have paid throughout my lifetime i think i deserve something back

 

Great logic

Break the law, get a fine

Ask a public forum about breaking a law based on the "man" fining you for breaking the law the first time around.

If you honestly can't figure it out yourself, you're probably not smart enough to get away with it. The nice DMV lady is going to run your car through and use the NADA value for it and tax you the correct amount.

 

i know they go by the book value but there is ways around it and what if i paid 4000 for a s2k that has a blown motor but the car is valued at 9k? im just asking for help if your not then thanks anyways

 

just be super conservative on the book/purchase value, but be careful with out and out lies

 

thanks for the inputs

 

to the top for info

 

All the info needed is already in here.

 

Spending 11k on a car that's roughly that market value and saying that it's 5k probably won't fly...something more reasonable would be like 7k on a car that was burning a lot of oil and a transmission with a very bad gear. I just remember when my ex bought a used car from a private party, where the guy was leaving the country to go back to Germany. A receipt was typed up, and both parties signed it stating the sale price, and the reasoning behind the price being "low".

Again, lying about value of the sale is illegal.

 

Why dont you call them and ask? or ask in the local area on HT...

 

I would just go ahead and pay the taxes. You can probably get away with saying you paid a couple of grand less than what you did but half the price? You're gonna end up putting yourself through more hassle than its worth.

And if you starting bringing the blown motor into the picture, have you considered if they'll give it a salvage title? I don't really now how that would work but I'd wary. If it does mess with the title you can forget about reselling it for somethin that its worth. I mean if you're paying 11k cash surely you can fork over a little more to properly register it right?

 

here in NC they go by the amount thats on the bill of sale, if you dont have a bill of sale i have no idea what amount they go by.

 

just put a dollar and pray u get a lazy person at the counter. chances are they won't know what an s2000 is anyway.. but if they ask, just say it's a very small car w/ only 2 seats and no solid roof, which you may need to fix with a purchase of a very expensive hard top.. Who knows they might buy it..

haha.

 

hahahaha
if u paid the person in cash then it doesnt matter how much you tell the dmv,you bought it for,as long as its reasonable.however,if you pulled a cashiers check or wrote a check they will find out.

 

ok heres the deal... in NJ the people at the DMV apply the tax for wahtever you number you put down... after that it goes into a database and if its a certain percentage off of what the actual car is worth you will get a letter in the mail sayin you owe the difference of the actual car values tax minus the tax you paid already... also, theres a part where you can explain yourself of why the car that you bought was sooo much under value, ie. bad engine, tranny, body damage, whatever the case... then you have to sign it and have the seller sign it and send it back... they usually dont hassle you after that...

when i registered the CRV, my buddy told me put $0 and say it was a gift... so i didnt pay any tax... i got that form said i owed a **** load of $$$, fileld it out and sent it back with both of our signatures... never heard anything since...

 

on one of my integras i paid cash, I am good friends with the seller and we agreed to put that i bought the car for a $1 on the bill of sale, I never got any problems from the state.

 

Most states go by the price on the bill of sale. They cannot charge you blue book if you didn't actually pay blue book price for it. Im sure some staes may want some more documentation (like NJ). In Maryland if the car is newer then 5 years, I believe the bill of sale must be notarized. I bought my S for 1,000$, with a notarized bill of sale I had no problems.

 

ok guys i picked up the s in the weekend we got a bill of sale that he wrote and we both signed now is this paper legal or do i have to get it notorized. as for the people saying if you paid 11k why cant u fork up more honestly not too many people have money just like that and im not a rich guy but can afford this for car now. im not trying to pay nothing im jus not trying to give 1000 like that to the city

 

Go tax evasion . You will pay tax on the $11k, unless you alter your bill of sale. If you alter it, that is a bad deal.

I always put $500 for the selling price of any car I sell. I do not agree with charging sales tax multiple times on one item, but I would never alter a signed document.

 

sales tax on a car here in NC pisses me off

3% sales tax, then on top of that you have to pay property tax on the damn thing every year.. wtf kinda bs is that.

 

8.75% sales tax over here. 9.75% in Los Angeles and some other areas as well.