I'm buying a car from a private party in Cali. The seller recommends we arrange a "second" lower price for the DMV record so I can save on sales tax. His recommended price ($2500) for the books, is significantly lower then the actual price ($12500) and I'm worried the state will call "BS" on it. Anyone have experience with this? Does California DMV check the market value?
2006-11-23 06:27:47 · 6 answers · asked by Brian S 1 in Cars & Transportation ➔ Buying & Selling
They can't say anything about it. People do it all the time. The price is specific to that individual deal. For all the state knows he could give you a good deal, he could already owe you money, or have compensated you in some other way.
2006-11-23 06:30:02 · answer #1 · answered by Curious George 4 · 0⤊ 0⤋
that's real that California sales taxes are somewhat greater than typical (yet are in no way the utmost, yet). besides the undeniable fact that, people complaining approximately California taxes consistently overlook approximately one ingredient: California has very just about the backside belongings tax fee in the USA. basically Hawaii and Alabama have decrease expenses. the money to run the state has to come back from someplace.
2016-10-12 23:47:34 · answer #2 · answered by ? 4 · 0⤊ 0⤋
In some states they may actually check the book value of the car, check with the dmv regarding how they tax. And of course that is not legal.
2006-11-23 06:45:16 · answer #3 · answered by jay 7 · 0⤊ 0⤋
I think you are going to get caught.It is way less than value of the vehicle and DMV is not stupid.Not only that they have power to trace your and your friends bank account .It is not very hard to find a proof.I hope you did not use check on top of all.If you deposited more than $5000 in cash,they get your SS# to make sure they know who had money around that day.
2006-11-23 07:52:07 · answer #4 · answered by Tiger 1 · 0⤊ 0⤋
Sure. You can even say it was a gift, and you got it free if you want. but if you are caught, it's fraud, pure and simple. I'm not sure I'd want to buy from a person suggesting you defraud the DMV, but your choice.
In Oklahoma, they go by the worth of the vehicle, not what you paid.
2006-11-23 07:42:04 · answer #5 · answered by oklatom 7 · 0⤊ 0⤋
I believe it's called tax evasion. Yes, they catch on. I know, alot of people try that . You'd save $600 or so, but it's a little ridiculous of an amount.
2006-11-23 06:41:18 · answer #6 · answered by Papa John 6 · 0⤊ 0⤋