Guys, is it dangerous to drop the price on the bill of sale in order to avoid higher taxes? I am thinking about asking a seller to *sell* the car for $3000 to me; that is on paper.

 

my first car was given to me by my grandparents and when the signed the title over to me they put $1 in the bill of sale. i paid a whole .06 cents in taxes woot woot

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by vitaliy &raquo;</TD></TR><TR><TD CLASS="quote">Guys, is it dangerous to drop the price on the bill of sale in order to avoid higher taxes? I am thinking about asking a seller to *sell* the car for $3000 to me; that is on paper.</TD></TR></TABLE>

Nope, you can put that the car is worth $100 and pay less.

 

if u know the person well enough have them put $1 and just say it was a gift

 

i'm not sure but i think they changed the laws on that because i couldn't do it when i bought my winter beater off of a friend i live in PA and i don't really know much more about it besides the fact that numerous people told me some law was changed and that that won't help you out anymore you still end up paying KBB value or some stupid **** like that...

as long as nothing stupid like that is going on where you live then no its not dangerous at all so i would def go for it

 

3000 is gonna be too much. ur gonna have to pay like 200+ bucks for tax. do it as a gift

 

i put down 600 on my Bill of sale for my hatch.

 

i think the only down side would be when it comes to insurence or something.. i always put like 100$

 

i put from 200-500 all the time

 

got my car from my cousin he put down gift no taxes w00t lol

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by punku10 &raquo;</TD></TR><TR><TD CLASS="quote">i'm not sure but i think they changed the laws on that because i couldn't do it when i bought my winter beater off of a friend i live in PA and i don't really know much more about it besides the fact that numerous people told me some law was changed and that that won't help you out anymore you still end up paying KBB value or some stupid **** like that...

as long as nothing stupid like that is going on where you live then no its not dangerous at all so i would def go for it
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last title I transfered, the way it had changed was that you had to explain why you were buying/selling above/below the "retail" value... but all it required was writing why, "car is beat up, rusty, not running well ....whatever..." (inPA)

 

Done it afew times.. just saves the buyer from paying more on tax at the dmv

 

the last time I was in the Secretary or State, I over heard one of the conversations between a customer and a worker. The customer had gotten the car from a family member for free but the worker kept asking the previous owner (because they were there) how much they would have sold the car for if it wasn't given to their family member. They were trying to get this person pay tax on something they really did pay anything for. If thats the law in MI or not I don't know. I know when I got my first car from my grandfather I didn't pay any taxes. Maybe the law has changed, I don't know.

 

i know my friend bought a truck of his friend for cheap and when he registered it they made him pay taxes on blue book value

 

i put $100 when I bought my car

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by foz &raquo;</TD></TR><TR><TD CLASS="quote">
last title I transfered, the way it had changed was that you had to explain why you were buying/selling above/below the "retail" value... but all it required was writing why, "car is beat up, rusty, not running well ....whatever..." (inPA)</TD></TR></TABLE>

Kind of the same thing here in FL. I bought a wrecked 92 tercel a few years back for $900. I paid the taxes on that but then got a letter a few weeks later saying the Blue Book price was a few thousand more and I owed them money. I had to get all sorts of documentation showing why I paid so little. Then again, I just bough a rough hatch for 5 bills and got nothing, so its a bit of a crap shoot.

BTW, foz, awesome avatar.

Josh

 

No, it's not dangerous. People do it all the time.

 

I would watch it, just don't cut the price too much. You know a 99 hatch for 500, i mean come on they will find out if it is that stupid.

 

like everyone else said, have them write it down on paper saying it was given as a gift. too bad in WA state you're only allowed to do that once per car.

 

i paid 500. for the car itself and in taxes i payed 75 (COLORADO)

 

i put 500.00 on mine......... i dont know if its ok