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Car bill of sale
Posted on 11/6/14 at 4:58 pm
Posted on 11/6/14 at 4:58 pm
How low would you go on a bill of sale for private party auto transaction? Guy wants me to put $2000 with the real price being $7500. Does anyone really look into it?
3
Posted on 11/6/14 at 5:05 pm to Bonjourno
I don't know. Are you willing to commit fraud for someone you know, or someone you don't know?
Odds of getting caught? Very low. But if you do... they are going to come to you, not him, for the money.
Odds of getting caught? Very low. But if you do... they are going to come to you, not him, for the money.
Posted on 11/6/14 at 5:33 pm to Bonjourno
Nope. That small of a difference should not save him that much money when he registers the car. As has already been said, why should you take a legal risk for someone else's benefit?
Posted on 11/6/14 at 11:56 pm to Bonjourno
quote:
Guy wants me to put $2000 with the real price being $7500. Does anyone really look into it?
DMV knows how to use the Blue Book and that kind of discrepancy will be a red flag to them.
Posted on 11/7/14 at 10:43 am to Layabout
quote:
DMV knows how to use the Blue Book and that kind of discrepancy will be a red flag to them.
The buyer is a what is called a stupid thief. Don't let him/her talk you into being an accomplice. As stated here, the DMV will use a standard valuation for the vehicle to determine taxes for the buyer in the licensing process, whatever value or price that is on the Bill of Sale is not a factor.
Posted on 11/7/14 at 11:04 am to soccerfüt
quote:
the DMV will use a standard valuation for the vehicle to determine taxes for the buyer
Yeah, but just the Ad Valorem taxes. The buyer is trying to save a few bucks on sales tax, which isn't very much on vehicles to begin with.
I've done it before when I sold cars to friends or family. The chances of being caught are so small. Not sure I'd do it for a stranger though.
Posted on 11/7/14 at 11:15 am to The Spleen
quote:
Yeah, but just the Ad Valorem taxes.
There is no ad valorem tax on personal motor vehicles in Louisiana. Sales tax can be up to 10% in some parishes.
This post was edited on 11/7/14 at 11:17 am
Posted on 11/7/14 at 11:25 am to Layabout
quote:
The chances of being caught are so small.
Not on that big of a difference in value. More get caught then you think.
DMV uses Black Book...same as dealerships.
Posted on 11/7/14 at 1:33 pm to Layabout
quote:
There is no ad valorem tax on personal motor vehicles in Louisiana
Interesting. Did not know that.
quote:
Sales tax can be up to 10% in some parishes
Wow, it's around 2% in Alabama, depending on the county I think.
I definitely would not do what the buyer is asking.
Posted on 11/7/14 at 1:35 pm to The Spleen
6.25% sales tax on autos in TX.
Posted on 11/7/14 at 2:42 pm to lynxcat
If it's a classic car in very good condition it's much more difficult for the DMV to catch it. A 60's mustang can sell for anywhere between 200 bucks and a hundred thousand. No bureaucrat at the DMV can tell its actual value by looking in a book.
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