JustAnIlluzion

iTrader: (60)

just picked up my 99 z28 today

the owner wrote out the title, but didnt put the price in, said "put whatever you want"

so whatever i put, is how much i will get taxed (6%) correct?
will the SOS care if i put 1 dollar or 1000 dollars or etc? should i put the actual price i paid? will the insurance company ever see what i put in my title, and if they do will they judge the value of my car by that figure.

also the seller put my name in the title, instead of my dad (cheaper insurance bc we have 6 cars)

can we easily insure it under his name or will it be a hassle?

spy2520

iTrader: (3)

I put a very low amount on mine. I can't remember if it was $500 or $1000 but it certainly wasn't the $10,500 i paid. I originally said it was a gift from my uncle, but the DMV required proof including a a couple birth certificates so that didnt work. Put the lowest amount you are willing to put because you will pay taxes based on what you put, and i dont think they can do anything if you say $1, i just never tried it.

JerseyLS1TA

iTrader: (2)

You will need a letter from the seller stating that is how much you paid for the car if it is a really rediculous low amount, the look up the book value of the car and if it's around that they don't say anything but if the car comes up worth $15,000 and on the title it says $500 they will question it. It happened to my sister's used truck, I live in NJ so not sure if it's the same in every state.

spy2520

iTrader: (3)

They said nothing to me about the amount, which i beleive was $500. They only questioned it when i said it was a gift. But i'd imagine they would be suspicious if it was $5.

Swang

iTrader: (3)

illuzion, what state are you in? in IL (not sure how it works in any other state) you are taxed heavy if the car costs more than 15k. so paying under 15k is a HUGE benefit. walk into the dmv wait in line and look at the posters for taxes and then walk out if theyre there. id say write 7,000 or something like that on it. low price but not totally absurd. also your dad can put his name by yours on the title. this will allow it to be on his insurance.

spy2520

iTrader: (3)

In MD, the people that work at our DMVs (called MVA in this state) dont know a camaro from a cavalier. If you got some auto genius it might be hard to fool him, but they excepted $500 even after i initially tried to tell them it was a gift. Put whatever you can get away with, if it doesnt work you might just have to change the amount, no big deal.

JustAnIlluzion

iTrader: (60)

hey, im in michigan.

thanks for the info about the title, 'preciate it

JustAnIlluzion

iTrader: (60)

cool ,. thanks guys

JustAnIlluzion

iTrader: (60)

got the car insured, full coverage is 85 bucks a month (ty mom) , dont haf registration but SOS is closed till monday.

spy2520

iTrader: (3)

Do you know what you will put for price paid yet?

JustAnIlluzion

iTrader: (60)

not yet.. want to put one dollar lol. prolly do like 500 bucks just to be reasonable.

spy2520

iTrader: (3)

Its worth a try. I doubt michigan really goes out of its way for things like that.

BriancWS6

iTrader: (18)

Damn, some of you guys got ***** putting that low of an amount for a vehicle costing much, much, more. What happens if you get busted pulling that stunt? I'd say it ain't too good. I can see knocking the price down some, but still be realistic. Props to those who get away with it. I hate taxes!!!!! Good luck!

spy2520

iTrader: (3)

There is only so much investigation they can do, if the person you bought the car from said put what you want on it, then you are almost untouchable. If they ask, tell them thats what you payed and that is what the seller put on there. Beleive me it isnt as risky as some make it out to be.

Guy2626c

for the record i know a guy that got a letter stating that he owed taxes that he didn't pay to the DMV. Remember the guy that sold the car might report on his taxes how much he REALLY sold it for. They can check that and hit you up for the unpaid taxes.

JustAnIlluzion

iTrader: (60)

i put down 2000, so i paid 120 in taxes. i also got a personalized plate "XTINCTZ"
i had some worse names to run by the lady but she seemed pissed off that they had already closed and i was still talking to her about silly plate names. now i wish i got "WASTED", i checked online and its available, so is "NV MY Z"
o well maybe next year.

radio626active

In AZ my insurance is $1400 a year and Im 32 years old! Thats full coverage, and no accidents or tickets! They can care less what I paid for it, they type up the VIN and come back with a number!

Mr Incredible

Go in at a busy time.
Give yourself a bit of a break. Don't get greedy.
And keep your mouth shut unless they ask something.

More people get in trouble flapping their gums and giving it away than are likely to be caught by overworked DMV people.

My experience and .02.

Good Luck.

NBM7278

I purchased a car and then moved to North Carolina. This state has a 6% (of the total value of your car) highway usage tax. In my case, they were real careful when typing in the value of my car. As far as I know, NC is either the only or one of few that actually does this though. Basically, if you were to move to a state that did crap like that, they might ask some questions or look into it.

Roarin_8

iTrader: (5)

Or if you are in a state that has higher taxes from where you got the car from. NY is trying to tell me to pay more taxes on the car, not happening, it's getting registered in FL where I got it from.