DMV Californian bought car for $3000 can I say I got it for $100?
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DMV Californian bought car for $3000 can I say I got it for $100?
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I bought a car from my fiance's brother in law for $3,000.00 about three months ago, now due my job loss I am out of cash. In the form to transfer it to my name can I say I bought it for $100.00 dollars and say it was a junker that needed fixing?
I asked the guy and he said he didn't mind would sign the paper stating that I bought the car off him for $100.00 Bucks.
So I know I can but can I get busted? I don't think they would know how much I paid him? I can even make a check to him for 100 bucks and then show the DMV people a copy of check for 100 bucks?
P.S. This is in California
Additional Details
I heard if you put it as a gift I would have to pay around how much the vehicle is worth?
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Jenna C
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Check with your state, I'm in KY, gifting to relatives, is child to parent/parent to child (including stepchildren and step-parents) it would not included a fiance's brother in law at all. Also you can both state bought for $100.00, but you will be taxed on the value of the car with the DMV, no matter how junky it might be.
Additional info:
The state refers to transferring ownership to or from one of the following as a family transfer:
* Spouse
* Parent
* Child
* Grandparent
* Grandchild
* Siblings
* Domestic partner
Keep in mind that California waives the use tax and smog test requirement between immediate family members (including grandparents and grandchildren, but not adult siblings) as long as the registration renewal fees are not due. |
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Scott H
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Sure, nothing wrong with a little fraud. |
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fb22279
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it can be a gift too. if its from a familiy member. i heard people just wrote gift on the spaces for the amount and nothign happened. and just pay the title transfer fee |
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Andy H
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its a family sale your can out whatever you want.
to lessen the chances if you are scared then dotn go so crazy and maybe make it a few hundred or 1k.
when i got my old car from my dad we put 10 bucks lol. |
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theshadowonme
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Like others have said, if it was sold to/from a family member then you can say you bought it for whatever.
I do not know specifically about cali. law, but in oklahoma they will charge you at the very minimum 80% of what the market value on the car was, even if you have a bill of sale stating the car was purchased for less. |
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