So as some of you know i am selling my blazer to get a 1987 toyota pickup. A guy called me up and we discussed price etc and he wants the blazer. He asked if on the title we could write off that he payed like 3,000 instead of 6,500 so he could save some tax cash. This is obviously not legal but what is the whole deal?! He is just trying to save some cash.

 

It's not illegal, either. They don't know what he paid for it, or what you sold it for. You could write it off as $5 if you wanted to. I never write full price on a vehicle I sell, because taxes are absurd. There's a minimum of like $20 they charge you no matter what. On my s10 which I paid 1800 for the taxes are like 71.71.. so its not gonna be terrible.

 

If it'll make it easier on your conscience, you can write "$1 (or $100,whatever) plus other considerable goods" on your bill of sale. That term is used a lot on land deeds. You could have paid anything for it- they don't know the situation. In OK they have some sheet that states minimum tax for a particular vehicle or what you paid for it, whichever tax works out to more for them. In AR anything less than $2500 is tax free Help they guy out and just leave the bill of sale and title blank in the $$$ spot.

 

i was told that you can use the amount that the buyer pays you for your vehicle, to off set the sales tax on the vehicle that you are buying. assuming they are both over the 2500.00 and sales tax is being owed on both. at least in Ar., so ask your local revenue office before you sell.

 

If u dont sell many vehicles, then this will not be a problem.. Its when u sell a couple of vehicles each year that it may come back and bite u.. The buyer is the one who will have to deal with explaining it to the title department anyways,,, I always lower the price on the title for a buyer,, I agree with Kaydon, Taxes are out of hand anyways..

 

I may or may not have wrote the blue truck title for less than what the buyer paid....