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Message
re: Is this a loophole option?
Posted on 10/1/13 at 2:23 pm to LNCHBOX
Posted on 10/1/13 at 2:23 pm to LNCHBOX
quote:
I bought a motorcycle a few months ago that was used with 1.4 miles on it from a private seller. sticker prices was $4800, and we put $1000 on the bill of sale. I paid taxes only on $1000. They don't look up the NADA value.
Well what did you buy the bike for?
And the OP was saying he would put $100 on a $5,000 car. DMV is going to know that a 2004 Jeep Cherokee is worth more than $100, even as a salvage vehicle.
3
Posted on 10/1/13 at 2:31 pm to Golfer
Maybe, maybe not.
I know for a fact the guy in front of me the other day at the notary paid 15k for his new boat. They put down $100 and rolled out. Would I do it? Probably not.
I know for a fact the guy in front of me the other day at the notary paid 15k for his new boat. They put down $100 and rolled out. Would I do it? Probably not.
Posted on 10/1/13 at 2:33 pm to Golfer
So the conclusion I've come to after all the help is we won't get away with $100, but can probably get away with $1,000. Which will still save them $360 or so.
Thanks for all of your help!
Thanks for all of your help!
Posted on 10/1/13 at 3:02 pm to Golfer
quote:
Well what did you buy the bike for?
More than $1000
quote:
And the OP was saying he would put $100 on a $5,000 car. DMV is going to know that a 2004 Jeep Cherokee is worth more than $100, even as a salvage vehicle.
When I went to register the bike, the guy even knew a little about the bike and didn't bat an eye at the number.
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