Question with buying a used car and paying taxes
#1
Question with buying a used car and paying taxes
USAA sent me a check for $10,000 written out to the guy I want to by the car from.
When I go to the DMV To register everything in my name I have to put USAA as the first lienholder.
To avoid paying ridiculous taxes on the purchase, is this a sitiuationwhere i can say i bought the car for cheaper on the bill of sale?
Or will the DMV know exactly what I paid for it?
When I go to the DMV To register everything in my name I have to put USAA as the first lienholder.
To avoid paying ridiculous taxes on the purchase, is this a sitiuationwhere i can say i bought the car for cheaper on the bill of sale?
Or will the DMV know exactly what I paid for it?
#2
In many states the DMV will use its own evaluation (Black Book?)and calculate the taxes based on that data. Some states will do this if you come in with a tax value below the book value. Some states want a notarized bill of sale.
#5
My dad always used to say,
"Only the pigs get slaughtered."
I would take that into consideration at the DMV. They are able to run a fair market value price on your car for sales tax and VAT purposes.
"Only the pigs get slaughtered."
I would take that into consideration at the DMV. They are able to run a fair market value price on your car for sales tax and VAT purposes.
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