question on buying a car
11-27-2004, 10:11 AM
#5
4th Gear Member
Join Date: Aug 2003
Location: United States
Posts: 1,974
RE: question on buying a car
yes when you registar the car they will charge the tax not the private party. They normally charge the tax based on book value not the price of the car unless the price is higher than the boook value.
I have had it go both ways, depends on how nice the DMV lady is being
.
I have had it go both ways, depends on how nice the DMV lady is being
.
11-27-2004, 01:47 PM
#6
2nd Gear Member
Join Date: Jul 2004
Location:
Posts: 355
RE: question on buying a car
Around where i live they ask you when you chang the title over how much the vehicle was sold for. thts what they deturman how much tax. so if u want to save money on tax tell them u paid less
11-27-2004, 02:43 PM
#7
3rd Gear Member
Join Date: Jul 2004
Location:
Posts: 920
RE: question on buying a car
in ohio you pay tax when you get the plates. They charge you tax based on the $$ you paid for the car. I don't think you cna "lie" about it unless the person you bought it off of agrees to write you a reciept or whatever for the smaller amt.
11-28-2004, 12:51 AM
#8
5th Gear Member
Join Date: Mar 2004
Location:
Posts: 4,813
RE: question on buying a car
just about no matter where you live, the local government is going to get some taxes off every vehicle sale no matter who or where it takes place. they get you for it when you go to get the title changed and license plates and the method of determing value varies widely from locality to locality.
11-28-2004, 01:33 AM
#9
1st Gear Member
Join Date: Nov 2004
Location:
Posts: 99
RE: question on buying a car
have the owner write you out a bill of sale for less than you actually paid for the car.. then you'll pay less tax, there is whats called a fair market value of the car.. and the department of liscensing knows this, so for example you buy a car that's fair market value is 10 grand.. and the bill of sale from the owner says you only paid him 2grand.. red flags are gonna go up.. and the dol will likely not change over the title for you... what you'll have to do is have him make it for something realistic.. OR have him write down on the bill of sale that there were alot of problems with the car.. and that is why it was sold to you so cheap...
heh, hope that makes sense.....[8D]
heh, hope that makes sense.....[8D]
11-28-2004, 03:09 AM
#10
3rd Gear Member
Thread Starter
Join Date: Sep 2004
Location:
Posts: 714
RE: question on buying a car
oh nice i never knew that
ORIGINAL: Justanother5.0
have the owner write you out a bill of sale for less than you actually paid for the car.. then you'll pay less tax, there is whats called a fair market value of the car.. and the department of liscensing knows this, so for example you buy a car that's fair market value is 10 grand.. and the bill of sale from the owner says you only paid him 2grand.. red flags are gonna go up.. and the dol will likely not change over the title for you... what you'll have to do is have him make it for something realistic.. OR have him write down on the bill of sale that there were alot of problems with the car.. and that is why it was sold to you so cheap...
heh, hope that makes sense.....[8D]
have the owner write you out a bill of sale for less than you actually paid for the car.. then you'll pay less tax, there is whats called a fair market value of the car.. and the department of liscensing knows this, so for example you buy a car that's fair market value is 10 grand.. and the bill of sale from the owner says you only paid him 2grand.. red flags are gonna go up.. and the dol will likely not change over the title for you... what you'll have to do is have him make it for something realistic.. OR have him write down on the bill of sale that there were alot of problems with the car.. and that is why it was sold to you so cheap...
heh, hope that makes sense.....[8D]