1. I will get new, valid smog certificate for the buyer before the transaction is completed.
2. I will sign over Certificate of Title and two sets of keys once I receive the money: $15,500 CASH for an 2002 S2000 with 162,000 miles that needs a brake job. (Buyer wants DMV title document to show lesser amount so he pays less tax, says this is done all the time. Is it? Will this be a problem for me later? Also, Certificate of Title shows a Registration Expiration Date of 2012. Is that a problem for this transaction?)
3. Bill of Sale to be signed by seller and buyer.

Have I forgotten anything?

 

Why are you accepting so little? Weren’t you getting offers of $200k? I’d suggest the higher amount. Buyer probably won’t need title or anything. Less documentation I’m sure.

 

I would personally not falsify the amount paid. Committing a tax crime to sell a car is not worthwhile to me personally.

Also holy cow my car is worth way more than I realized.

 

I have bought and sold a bunch of cars in this state. In state, out of state, you name it. You happen to live in a high crime city. I avoid San Francisco like the plague. Take precautions. As you are a resident of that city, I know for a fact you cannot have a CCW so you need to have a buddy or two as a backup preferably in a neutral space, not your home, that is public. A lot of police stations offer their parking lots for these kinds of transactions.

A current registration shows the car is registered. You should already have the new smog which is required for sale and transfer IN California. Get it done before the sale.

Some older California titles let the buyer declare later what they actually pay. It is up to them, in that case, to declare the value to the DMV. Newer titles have the space for the value to be entered at the time of sale and for (you) the seller to enter the number. You then sign the title. In that case it comes down to you following the law and doing the right thing. So the buyer has to pay tax on the car? That is the privilege of living in one of, if not the most expensive state in the nation. You should do the right thing and follow the law especially as you are certifying by signing your good name to the document. The very fact the prospective new owner wants to cheat the system tells you he/she is not completely honest. That means he/she may not be honest with you.

Can you get legally creative? Yes you can. Most people sell a car for a certain “consideration” which is usually money. It can be other things, tangible and intangible, that add all or part of the value of the item (car ) in questions. That is why the DMV allows a tax free transfer to family members knowing the consideration is an intangible love and affection. Perhaps there is something else that could be included in deal that is not part of the total cash amount only asked for on the newer titles.

Be careful with checks and such. If you make a deal you may want to go to the bank with the new owner to verify the account is real and the money is there.

Good luck.

 

Always a bad idea to falsify a document -- especially one that's notarized.

State laws cover these sales. Everywhere I've lived requires the title transfer to be notarized and with bank branches everywhere and for sales of this magnitude it's always been convenient for me and the buyer to go to his bank and do a wire transfer (unless he's peeling off $100 bills) from his account to my account at my bank. No local bank branches for the FirstBank Nigeria though.

For fun I just ran my '06 thru the on-line Kelly Blue Book "what's my car's value" and it was roughly $25,000. DMVs probably have access to similar price data so any low ball number will get flagged.

-- Chuck

 

Not in California. You can do it on the hood of your car if you please.
The seller fills out his/her portion and signs (the big deal is the milage apparently on CA titles) There is a tear off portion the seller keeps and is required to notify the DMV within a certain time frame.
The seller also signs and submits the title, additional paperwork, and applicable fees and taxes to the DMV for registration and a new title. The state is going to electronic titles but you can still get paper.
If you have custom plates and wish to keep them, remove them from the car and let it go without. I have 2 sets of custom plates and they will stay with me for life unless I give them up. Daughter has one set.

 

Can you spell F-R-A-U-D?

 

Only take cash or a certified bank check.

 

Not in NY either

Let me add that no one is going to question, check or red flag the value of the sale price of the car. People sell cars at all different prices for all different reasons from needing quick bucks, needing to get rid of the car quickly because of relocation, condition, not knowing the true value of the car, etc. As long as the seller and the buyer agree on the price and that's what's written on the paper it's a wrap. Just sayin'.

 

https://www.s2ki.com/forums/new-york-metro-new-york-s2000-owners-61/i-bought-s2000-got-ripped-off-1148423/