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Lying on a title of sale

S

steppinthrax

Diamond Member
I was just curious what the implications are if someone lies in the amount of sale for a car. On the back of your title you normally put this number there. The reason why people would lie a bit is to escape paying some of the excise tax (5% in maryland). So for a $6,000 car you would be paying $300. The owner left that box blank (signed the title) and you could essentially put anything in the world there.

 
Likely there are no real consequences. Many years ago, my state added a minimum fee amount because some people were putting amounts like $1 as the purchase price. Not sure if MD has a minimum. But rhetorically, why not be honest and pay the fee? The you don't need to worry about the implications of lying.
 
I get a weekly paycheck. Tax comes out. A lot of tax.
I then have to pay an additonal 8% tax when I buy a used vehicle from a private seller, with money that I've already been taxed on. ????

No thanks. If you want to waste your money why not paypal it to me? 😀.
Otherwise, put down $800 on the title and call it good.
 
unless the person that sold it goes up to the DMV and tells them, nobody will find out anyway. i told the DMV i paid 10 bucks for my car when i paid 1000 for it.
 
I dont mind paying taxes out of my income........as long it gets well investd (highways, shcools, technology and big fcking guns that will allow us to kick any other country's a$$ in a war 😀 ). However, I dont understand why someone has to pay taxes when buying a used vehicle. Someone had already done so when purchased new. So, everytime that vehicle gets sold to someone else, it gets taxed...................? :frown:
 
I think the only way this can F you up is when you start doing your taxes there may be some sort of conflict.

I know you show when you sell a car but do you show when you buy a car on taxes. If you put you sold a car and the person whom you sold it to put 500 on the title while you said you sold it for $6,000.


 
Originally posted by: Kaspian
I dont mind paying taxes out of my income........as long it gets well investd (highways, shcools, technology and big fcking guns that will allow us to kick any other country's a$$ in a war 😀 ). However, I dont understand why someone has to pay taxes when buying a used vehicle. Someone had already done so when purchased new. So, everytime that vehicle gets sold to someone else, it gets taxed...................? :frown:
Click to expand...

Taxation without representation... just to name of the few things that are starting to happen once again...
 
Originally posted by: railer
I get a weekly paycheck. Tax comes out. A lot of tax.
I then have to pay an additonal 8% tax when I buy a used vehicle from a private seller, with money that I've already been taxed on. ????

No thanks. If you want to waste your money why not paypal it to me? 😀.
Otherwise, put down $800 on the title and call it good.
Click to expand...

That's not the proper justification people use in this case. It's when you pay tax on a used vehicle that vehicle was already taxed at time of original sale.

Otherwise your argument extends to all sales taxes.

Personally I think doing away with income tax and going to a purely sales tax system would be a fairer tax system. It's not the topic of this thread though.
 
This does get caught, but not often. Usually most people think taking a bit off the top is getting one over on Uncle Sam...but the numbers work out close usually.

What they nail one for is when someone gets a 2006 Ferrari and puts $5000 on the title.

It doesn't take much to audit both the seller and buyer and see if a larger sum of money floated around.
 
No sales tax on used private party vehicle sale in GA or AZ. So we don't have that problem. Of course we get raped by ad valorem tax once a year to renew our tag.
 
If you're worried about it, go to Kelly Blue Book's website (kbb.com), price it out as a trade-in used car value, with no options and in piss poor condition.......then cut that figure in half, and write that down. Should make a $6K car worth ~$800. 😉
 
The person you are buying from is just as responsible for it as you are, and since theyre the only ones who could rat you out you're probably safe.
If you're extremely paranoid, use a reasonable but low amount. The person at the counter is NEVER going to care, unless you list a ferarri at $1k you're fine.
 
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