is it ok to put lower price on back of the title?
Former Moderator
Joined: Jun 2003
Posts: 18,852
Likes: 1
From: New York
I know a few people that sold 911 Turbo's with 10,000 miles for 1 dollar. 
You just have to have a trail of documentation that you really sold it for $1, etc. You really have to know what you are doing. You can do "gift" schemes, and a whole other slew of things, but chances are, if you are asking questions, I wouldnt do it.
You just have to have a trail of documentation that you really sold it for $1, etc. You really have to know what you are doing. You can do "gift" schemes, and a whole other slew of things, but chances are, if you are asking questions, I wouldnt do it.
Registered User
Joined: Jan 2007
Posts: 1,724
Likes: 0
From: Knoxville Area
Stay legal, no worries. Tax for me was over 9% after forking over that much cutting a few grand on the title wasn't even worth thinking about. Just pretend your money is going to the good things the government does... not the bad!
Registered User
Joined: Aug 2004
Posts: 4,075
Likes: 0
From: Kufstein
I done it more than a fair share of times and never had any trouble, but I only do it when I buy a car privatly. Just write up a bill of sale with the VIN number and have the seller and you sign it with the "total" you spent on the car. As long as it is within reason the state won't bother you. Example: If you buy a car for $10k, make a bill of sale and put on the back of the title $7k, the state shouldn't bother you.
*do not try this it is bought from a dealer, if the state decides to check out the price the dealer will have to show them the file for the sale. Then your screwed.
*do not try this it is bought from a dealer, if the state decides to check out the price the dealer will have to show them the file for the sale. Then your screwed.
Joined: Dec 2004
Posts: 10,061
Likes: 324
From: Land of Cincinnati Chili
Originally Posted by other_vortechs2k,May 2 2007, 03:00 PM
They already taxed the damn car at a new cost of $36k, why do they need to re-tax it every time it's sold?
Joined: Oct 2000
Posts: 17,288
Likes: 39
From: Nashville
Originally Posted by SheDrivesIt,May 3 2007, 09:13 AM
Because they have a SALES tax?
Some states don't tax used cars and some do. Also some states allow you to deduct the amount of a different used car that you just sold off the value of the new "used" car that you are buying so you only pay tax on the difference.
here in PA you can only reduce the sales tax when you go through a dealer with a trade in.
I forgot to post in my original reply that I have lied downward on many cars without getting caught, but I definately got caught that one time....
Registered User
Joined: Jan 2006
Posts: 800
Likes: 0
From: The O.C.
I haven't bought a $15k car from a private party yet, but I was able to get by with buying a $4,000 car from a PP and recording it as a $2,000 sale to the DMV. I think they would rather bother catching higher fraud amounts, though, to be honest.