The "how about you write it up for less" on the bill of sale thing.

Nick (LUCAS) Comstock wrote: In reply to SVreX:

Jesus he took a lot of steroids. Look at his pec on his right side.

I fill out a blank bill of sale and title with the price blank. Most of the cars I've bought from individuals come the same way. I always ask buyers to email me a copy of the completed document when they go register it and pay the tax.

SVreX wrote: This thread looks like a good place for investigators to find people who are tax evaders or are aiding and abetting. Assisting a fraud is still fraud.

as far as I'm concerned that is what I paid/sold those cars for. As long as the seller and buyer both agree on a 'price' then no one can say otherwise.

i just recently bought a 2000 f250 for a cool $500

edizzle89 wrote: i just recently bought a 2000 f250 for a cool $500

Did they keep the money in a freezer?

One thing I haven't seen mentioned here is when higher value older cars are sold with a bill of sale price much much lower than selling price and then there is an insurance claim for something like stolen vehicle. Ins investigator finds car was recently purchased for $ X,000.00 on bill of sale and owner claims the car is worth $ XX,000.00. Insurance pays out based on bill of sale, I've seen it happen. You can loose far more than was saved on tax.

On sale items with a title I sign the title, give them the pen I signed with. I've gotten the same in return. The way I look at it is this: if they want to not pay the taxes, it is on them. I sure as hell don't.

NOT A TA wrote: One thing I haven't seen mentioned here is when higher value older cars are sold with a bill of sale price much much lower than selling price and then there is an insurance claim for something like stolen vehicle. Ins investigator finds car was recently purchased for $ X,000.00 on bill of sale and owner claims the car is worth $ XX,000.00. Insurance pays out based on bill of sale, I've seen it happen. You can loose far more than was saved on tax.

I just bought an 04 325i wagon for $1200 from one of my customers. It books out at least $4000. What the bill of sale doesn't show is the cracked head and 20 hours labor to replace it. It should be no problem arguing with an insurance company about the improvements you've made since buying it.

The Hoff wrote:

NOT A TA wrote: One thing I haven't seen mentioned here is when higher value older cars are sold with a bill of sale price much much lower than selling price and then there is an insurance claim for something like stolen vehicle. Ins investigator finds car was recently purchased for $ X,000.00 on bill of sale and owner claims the car is worth $ XX,000.00. Insurance pays out based on bill of sale, I've seen it happen. You can loose far more than was saved on tax.

I just bought an 04 325i wagon for $1200 from one of my customers. It books out at least $4000. What the bill of sale doesn't show is the cracked head and 20 hours labor to replace it. It should be no problem arguing with an insurance company about the improvements you've made since buying it.

That's the thing that worries me about my Volvo. I paid $400 for the car. I also paid close to $2000 in repairs to make it where it is right now.

Of course book value is something like negative tree-fiddy and Autotrader scanning shows that dealerships want $3-5k for them.

Given that book value is determined by average sale prices, and they get this information from transfer records... aren't the people who want a lowered price just shooting themselves in the foot?

This is probably why, say, '98 Passats have a book value of $700 or so in "Good" condition. NO Passat in "Good" condition sells for $700, it's closer to $2700.

But you saved fifty bucks to the evil taxman, oooo!

NOT A TA wrote: One thing I haven't seen mentioned here is when higher value older cars are sold with a bill of sale price much much lower than selling price and then there is an insurance claim for something like stolen vehicle. Ins investigator finds car was recently purchased for $ X,000.00 on bill of sale and owner claims the car is worth $ XX,000.00. Insurance pays out based on bill of sale, I've seen it happen. You can loose far more than was saved on tax.

I have agreed upon value policies on all my collector cars, so regardless of what you paid that's the deal. I've upped several over the years to higher than original purchase price because the cars have appreciated.

As far as the 'just leave it blank' or whatever. I'm fine with it.