Quick car buying question
02-07-2004, 12:25 AM
#1
AKA MaxGeek
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Quick car buying question
When you buy a car from a private party, is the price listed usually include tax? Like say a guy is selling a car for $25000, usually does this mean just pay them $25000 and they take care of paying for the tax or $25000 + Tax.
02-07-2004, 01:06 AM
#3
Beware of leakage
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Crazy is correct. What you can do, depending on how cool the seller is, have the seller say he is selling it to you for like $500, and DMV will ask why so cheap, "Known him long time" blah blah. Anyway, Therefore you would only pay the taxes on $500, and not 25k, see what I'm saying, but like I said, depends on how cool the seller is. This works better if you really are friends with the seller.
02-07-2004, 01:32 AM
#5
Racer
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Be carefull and don't go too low on the fake bill of sale ... if you go too low, the DMV can red flag it and charge you taxes on the "Retail Value". Just take 8 or 9 grand off the price and be ready for an explination at the DMV.
02-07-2004, 01:36 AM
#6
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Originally posted by GEB
Be carefull and don't go too low on the fake bill of sale ... if you go too low, the DMV can red flag it and charge you taxes on the "Retail Value". Just take 8 or 9 grand off the price and be ready for an explination at the DMV.
Be carefull and don't go too low on the fake bill of sale ... if you go too low, the DMV can red flag it and charge you taxes on the "Retail Value". Just take 8 or 9 grand off the price and be ready for an explination at the DMV.
The seller can sell a car for whatever he wants, if I am not mistaken.
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02-07-2004, 02:32 PM
#8
Homeless
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Originally posted by Guru
What GEB said is true, its not the first time I've heard it. If they suspect you of BS they will charge you the retail value of the car.
What GEB said is true, its not the first time I've heard it. If they suspect you of BS they will charge you the retail value of the car.
No free lunches anymore.
02-07-2004, 05:40 PM
#10
The Third Ball
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Thats funny, when I moved to cali my old lude was under my fathers name (insurance purposes at the time) and I when i switched over to cali reg i had to put the car in my name, so my dad said he sold it to me for 1 dollar on the title.
Paid my low ass fees and walked away. Nothing ever happened.
Paid my low ass fees and walked away. Nothing ever happened.
02-08-2004, 10:47 AM
#12
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I ran into this when buying a camry a few years back. Paid only about 25% of KBB value and got a letter from the DMV. Had to get a notarized document signed by me, the seller indicating the price and the reason (high miles) or pay tax on the listed value. Seller was a good guy so I got away easy.
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