Any repercussions of this?

[akhawar]

I am about to purchase a car and the seller offered me today that he would put the price of the car as $10 on the Bill of Sales so I can save the tax. Is this possible?

Any issues in future due to this? Anything the seller can do against me due to this? This guy who is selling this car is kinda weird looking.. but giving me a good deal.

Appreciate your thoughts on this...

 

[Gambino]

that is pretty common actually. it just saves you money. you should be fine. Like I said, I hear of it all the time, but have never done it myself

 

[Bala]

If there is something dangerously wrong with car - at least you'll get your ten bucks back.

 

[akhawar]

yeah true

I am gona fill the true value of the car in there.

 

[BizzyDaKid]

If it is a ridiculously low amount, they will sometimes just put whatever book value is on there, that happened with a motorcycle I bought one time. I had to set up a meeting with someone, and explain to them why it was so cheap to not pay a lot of taxes for it.

 

[Jeph]

Dud you still get away with it though? And not have to pay a lot of taxes?

 

[BizzyDaKid]

Dud you still get away with it though? And not have to pay a lot of taxes?

Only after he saw the bike.

The funny thing is, I wasn't even trying to work them over. I actually paid what the title and bill of sale said. It's just a hassle, and I would bet depending on how low it says, they might investigate it.

But on the other hand, I have heard of people doing it scott free.

 

[Brian MP5T]

Do it!

 

[Hughes412]

I've did this on a lot of the used cars I bought. Just tell them at the tax office it's a parts car. There are no issues with doing this.