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35 members (Flyliner, Bread, Auburn_03, SC53, mossyback, tightwads, JohnG, n2deer, StateLine, Narrow Gap, Dragfan66, 3Gs, wareagle22, lthrstkg1, BobK, kyles, 7mmSTW, Skullworks, limabean, jtillery, Geeb, sanderson, mopar, Exhoosier, Bushmaster, DoeNut, coosabuckhunter, Jweeks, tucker07, woodduck, 5 invisible),
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Joined: Apr 2017
Posts: 4,597
10 point
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10 point
Joined: Apr 2017
Posts: 4,597 |
Some folks avoid this by getting the bill of sale written out for much less than is actually paid. However, if you are financing the vehicle, the bank wants a bill of sale for the actual amount. They go by book value where I live. If it was that easy folks would just say “$1” and no one would pay taxes. this is correct but I think they only go by a percentage of the book value think its 20-30% unless the bill of sale says more. im not 100% on this i always pay the tax at the dealer.
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