Lowering price on bill of sales?

[predator]

The guy that is buying my car insinuates that he wants me to write the bill of sales for less than the actual price... I don't blame him because he is gonna have to pay sales tax on what i write... But what can go wrong for me if i do this... I could really see this causing a possible issue if he said that he didnt owe me bu what was on the bill of sales and so forth...

I hate our used car sales tax law and would love to see the government screwed out of some cash, but i dont want to see myself screwed out of some cash...

Ideas?



-me

[JHayesLS1]

Well, when my dad bought his bike he payed $5000 for it and the guy wrote $500 on the bill of sale. Nothing happened. We put $5k on my WS6 that really cost $16k and I'm still here lol

[M-Ten]

When I bought my first car we did the same thing.. Didn't lower it by that much, though. Nothing ever happened..

[67CamaroRSSS]

I've screwed the gov out of quite a bit doing this. The key is: GET THE $$$ 1ST! Then you can write the Bill of Sale for as little as you want. I even wrote one as a "gift" and the person buying the car didn't even pay a dime in sales tax. I will admit that the Ca DMV called both of us to task about it but since it was theoretically and technically "legal" at the time there wasn't anything they could about it.

Edit: It didn't hurt that the person I sold the car to as a gift was a family member.

[JonB]

I've done it on both my previous cars. Neither of which were worth a whole lot, one I sold for $1500 and the other $3000. I wrote $500 on the bill of sale. Also the guy that I bought my first car from did the same for me. On cheap cars I don't see much of a problem but I would think a newer car with a price tag of 20k with bill of sale for $500 would raise a red flag somewhere in the goverment but maybe thats just me.

[Shorgasm]

The only smart way to do this is to be the "person" in the deal with two bill of sales.One for what you actually paid and one for the DMV to have.That way you and only you have proof of what you paid.

[predator]

Unfortunately I'm gonna have to take a little bit of a risk and accept a cashiers check from the guy for what I had paid off on the car. So in all reality i wont know the funds cleared for atleast a few days (I know I know, but I dont know how else to do it without having to make him wait like 3 days and that could easily be a deal breaker.) I guess I could give him one for the full price and then when the cash clears I could mail him one for less to give him a break on taxes.

That way if something goes wrong i have proof that he owes me more cash and if everything clears ok he will still get a cut on his taxes.

-me

[blackSS01]

Here is exactly what I would do. Take the money, wait for it to clear. Once it clears, then write what he wants on the bill of sale. Then give it to him. I have bought my last 3 daily drivers like this. I only paid $50 dollars each according to the bill of sales

[krese]

the dmv here will check book value on the car and if you write a receipt lower than the book value they will charge them tax on book value.

[Y2KPewterSS]

the dmv here will check book value on the car and if you write a receipt lower than the book value they will charge them tax on book value.

Same here

[SeVeReDiStOrTiOn]

The guy that is buying my car insinuates that he wants me to write the bill of sales for less than the actual price... I don't blame him because he is gonna have to pay sales tax on what i write... But what can go wrong for me if i do this... I could really see this causing a possible issue if he said that he didnt owe me bu what was on the bill of sales and so forth...

I hate our used car sales tax law and would love to see the government screwed out of some cash, but i dont want to see myself screwed out of some cash...

Ideas?



-me

That used to work but like Krese said the DMV taxes based on what their book says..

[irbaboon]

When my brother signed over my truck into my name we put $500 on the B O S and they called bs on us and sent us a letter saying we owed the amount that blue book said it was worth......like 16k. Anyways we just ignored it and nothing happened, how can they prove how much you really paid/sold for the thing.

[red99ws6]

different states have different laws as far as the book value goes and taxes. i bought a car at a car lot and they gave me 2 bill of sales for this reason. i buy most cars for cash now though and i have never put the right price on them. taxes are 9.75% here in tennessee so you need every break you can get

[blackSS01]

Just bought my last daily driver about 1 month ago and it worked. The DMV can't tell what shape the car is in, maybe the fucker don't run, or is smashed. I call BS on letting them use blue book, tell them to fuck off. Car could be stripped for all they know, and you want to re-do it.

[MagicMan]

i never lower the $ on the actual BOS, but i don't care if they lower it on the title to pay less tax

[rbob93]

Florida has a minimum that must be paid

[DrMilhouse]

easy. If the price of the car is 12,000 then have him buy something useless from you for 11,500 and buy the car from you for 500.

sell him the key to the car for 11,500 or something like that, but GET THE CASH FIRST!!!!!!!!

hell, even take the cash to the bank first.

sell him a block of wood or something but just make sure to get the money. I can't blame the guy. I've done that before with cars. They get enough tax after it's all said and done anyway.

[1fastcamarosss11]

i told them i traded cars. plus cash worked her but who knows if it looks real fishy they will look into it anyway.

[DrMilhouse]

oh, you could also use something like "as is, not running" on the bill of sale. After all, it doesn't run till the key is in it.

[blackSS01]

oh, you could also use something like "as is, not running" on the bill of sale. After all, it doesn't run till the key is in it.