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anyone get sh*t for writing lower car sale price

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Old 09-25-2009, 07:36 AM
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Originally Posted by 05TurboS2k,Sep 24 2009, 01:49 PM
Done it a few times.

I don't believe in the gov't taxing what has already been paid for with taxed dollars twice.
If they didn't tax USED cars/equipment/trailers, there would be less NEW cars/equipment/trailers sales. So I don't mind the tax
Old 09-25-2009, 08:01 AM
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Originally Posted by chairmnofthboard,Sep 25 2009, 07:34 AM
My insurance company pays what I'm into the car. So if I claim I paid XXXX amount, I will be covered for that car XXXX amount.

If you gift a car you still have to pay sales tax.

If you put down a really low price, you better have a story in case there's a teachers pet behind the counter.

I'm going to the DMV today to put a car in my name.
So what happens if you buy a car that depreciates quickly, theyll still pay you for what you had into the car? Or will they THEN use fair market value since its in their favor lol.
Old 09-25-2009, 09:02 AM
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You can be desperate for cash at any time, long as no investigation occurs I suppose you're ok. Cash deal being the nicest move there.
Old 09-25-2009, 09:12 AM
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WAITTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
just one second wait!!!!!
Background:
I have bought and sold over 150+ cars in 8 years. I buy from autions, out of state, and i sell locally,
if you go to the DMV make sure just in case!!!! to have a story
I buy cars from auction and sell them to the public, we both agree to put a XXXX amount on the car....
FROM A AUCTION
Its has alot to do with the type of car too!!!!
a civic going for 5,000 put down 1,600
a range rover for 19,000 put down at least 7,500
a Bently for 50,000 put down 20,000 at least
depends on the year damage, miles, and title
is the car salvage than you can get away easily because they down know the damge and cost of repairs!
Clean title, nice car (2008 E-class Benz) , low miles, purchased for 38,000 and say you put 8,000 than there lies a problem, they wont tell you, they will file a alert. DMV has police (if you didnt know).


[U]answer is YES i have gottin alot of crap from DMV over the years, and yes they will hunt you down if it looks suspicous. [\U]

This will work for you if you just drop 35% of what was paid/sold.
its the safest way IMO

GL
Old 09-25-2009, 09:35 AM
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^ Sounds like good advice to me.
Old 09-25-2009, 09:38 AM
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good info!

thanks for that....30% of the paid price seems "fair" and I wouldnt have a problem with that.
Old 09-25-2009, 09:42 AM
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Originally Posted by gilby1kanobie,Sep 25 2009, 09:12 AM
WAITTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
just one second wait!!!!!
Background:
I have bought and sold over 150+ cars in 8 years. I buy from autions, out of state, and i sell locally,
if you go to the DMV make sure just in case!!!! to have a story
I buy cars from auction and sell them to the public, we both agree to put a XXXX amount on the car....
FROM A AUCTION
Its has alot to do with the type of car too!!!!
a civic going for 5,000 put down 1,600
a range rover for 19,000 put down at least 7,500
a Bently for 50,000 put down 20,000 at least
depends on the year damage, miles, and title
is the car salvage than you can get away easily because they down know the damge and cost of repairs!
Clean title, nice car (2008 E-class Benz) , low miles, purchased for 38,000 and say you put 8,000 than there lies a problem, they wont tell you, they will file a alert. DMV has police (if you didnt know).


[U]answer is YES i have gottin alot of crap from DMV over the years, and yes they will hunt you down if it looks suspicous. [\U]

This will work for you if you just drop 35% of what was paid/sold.
its the safest way IMO

GL
Even then though, how are they to determine that even with a clear title some of those cars did not need a new trans, motor, interior, paint due to vandalism etc? They can do an investigation but they would have to prove it DIDNT need all that stuff right?
Old 09-25-2009, 10:02 AM
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Originally Posted by chairmnofthboard,Sep 25 2009, 07:34 AM
If you gift a car you still have to pay sales tax.
How would they assess the value of the car in this case? Fairmarket/BlueBook? Just wondering how much tax you would pay in a gift.
Old 09-25-2009, 10:16 AM
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how about when theres a trade? I believe don't you put $1.00 on both side of the party?
Old 09-25-2009, 10:27 AM
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Next time I sell a car, I'm gonna put $1
Screw the government and their illogical taxation (thievery).


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