Quote:
Originally Posted by DETRoadster
Quote:
Originally Posted by Run Silent
#truth
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Next to the "charitable giving" write off on your taxes and self reporting tip income, the self-valuation of a used vehicle purchase with the DMV has got to be one of the most exploited things.
DMV - Uh, so you're telling me you purchased a used 2017 BMW M3 for $500?
Owner - Yep! And here's my home-made receipt to prove it! |
Most DMV, use the blue book retail value unless you have actual BOS from dealer. I know CA does this and if there is no blue book value they will assign one.
I did title transfer on 53 F100 with my dad, no blue book, and no Sale and so no Sale price, tried to enter $0 and system would not allow, had to enter $100. Sold a couple cars in PA and as soon as you said private sale they just looked up retail value. Did not matter what your little piece paper said.