Ownership: California title ("pink slip"), value section...

[TurtleMan]

I know people do it all the time, but let say if this guy gonna sell me a 98 car for $5000,
would putting in like $500 look not quite right for the vaule section?
and also would it be legal ? ;P thanks

 

[imported_hscorpio]

I think its very common to do that. When i bought my car the seller said "put whatever you want as long as it's over 1000$". I put the correct value(5500) though and was really regretting it when I had to pay the tax.

taxes suck.

Edit- It's almost definately NOT legal. I think it's fraud actually just like lying on your income taxes, but could be wrong.

 

[TurtleMan]

ahh....i know the tax will break me, so i want to put like 500 and if dmv ask me
i would be like, the car is dead broke, parts messed up blah blah


now that won't be that illegal right ... ;D

 

[Buttzilla]

Originally posted by: TurtleMan
ahh....i know the tax will break me, so i want to put like 500 and if dmv ask me
i would be like, the car is dead broke, parts messed up blah blah


now that won't be that illegal right ... ;D

i did that. i dont' care, you don't make that much money to get audited right now...i paid only 60 bucks for registration. put 500 and say it was a 'gift', thats different.

 

[habib89]

i really dont' think the dmv will ever ask you why the price on the car was so low.. just tell them to mind their own freakin business

 

[imported_hscorpio]

Remeber to have the vehicle transfer form in addition to the title. I went with only the title, not knowing better, and ended up having to take a second trip. The people that work at the ca dmv are wothless POS's. I went in and had my paper work 'checked' and they said "all good, next window" even though I was missing that transfer form. They took my money and processed the paperwork, but then I got it mailed back two weeks later saying I had to go back with that transfer form. Lesson learned.

 

[TurtleMan]

oooh thanks for all the tips, i guess i will put down $500 then


btw i never need to fill up the vechicle transfer form...
i only remember just bring in the pinkslip and thats it.......


if so, which form are you talking about?

 

[TurtleMan]

Originally posted by: Buttzilla

Originally posted by: TurtleMan
ahh....i know the tax will break me, so i want to put like 500 and if dmv ask me
i would be like, the car is dead broke, parts messed up blah blah


now that won't be that illegal right ... ;D

i did that. i dont' care, you don't make that much money to get audited right now...i paid only 60 bucks for registration. put 500 and say it was a 'gift', thats different.

so you say put down the value as 500 and say it is also a 'gift' the same time ?!?

 

[puffff]

Originally posted by: habib89
i really dont' think the dmv will ever ask you why the price on the car was so low.. just tell them to mind their own freakin business

i've actually gotten a letter from dmv asking to explain why i put such a low value on the car. i explained the car was a gift from my parents to me. they then asked for proof that my parents paid taxes on the car when they bought it.

 

[TurtleMan]

Originally posted by: puffff

Originally posted by: habib89
i really dont' think the dmv will ever ask you why the price on the car was so low.. just tell them to mind their own freakin business

i've actually gotten a letter from dmv asking to explain why i put such a low value on the car. i explained the car was a gift from my parents to me. they then asked for proof that my parents paid taxes on the car when they bought it.

Hmmm wat kind car was it...i never heard of that....scaryy

 

[notfred]

It's not legal, but people do it all the time. The DMV doesn't actually look at the car, and I've never had anyone even bother to ask about it. Even if they DID ask why you're buying a 2001 Benz for $300, you can just say "the guy rolled it over and it's all smashed up", or "It's a rich friend of mine who doesn't want it anymore".

 

[TurtleMan]

nice one now i have another reason to put it lower ;D

 

[Kelemvor]

It's illegal to put in a value that isn't what you paid. If you put in a low value you can sometimes expect a call form the DMV asking you (and the seller) about it. You have to pay taxes on it though which sucks.

You could always have the seller sell you a paper clip for $5000 and then throw in the car for $1 or something if you wanted to try to skirt the system. But make sure the seller and buyer are both in agreement because if they call and you both have different answers, you can expect trouble.

Technically it's the seller's responsiblity to fill that in so they might get in trouble but if the buyer lied then I guess both could...

 

[imported_hscorpio]

this one. Their Bill of sale form. I only had title and a kind of informal receipt. I was just mad that they didn't tell me I needed a bill of sale + title when they checked my paperwork, but then mailed the title back saying I had to make a second trip with the correct forms. I guess I was just supposed to know that but it was my first time buying a car.

If I could do it all over I would probably put down 1200 as the value. 500 seems to low but what do I know.

 

[TurtleMan]

doh...just found out the car is lien........
have to give the guy money first, then get the title later..

not so sure if it is safe.....

 

[The Stigenator]

Originally posted by: TurtleMan
doh...just found out the car is lien........
have to give the guy money first, then get the title later..

not so sure if it is safe.....

i will say pass.

 

[TurtleMan]

really..why