Quote:
Originally Posted by MadDog
Not really. Of course, if you sell a 30K car and put down you sold it for $200.00, then that may be questioned.
If you sell it non-op, the only money you save is the registration fee, not the use tax.
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To your point when in CA I transacted two vehicles a 53 Ford 100 which was my dad's and he gave it to me and when I transferred ownership they ask what I paid and the right answer was $0 well the DMV did not like that answer I was not allowed to say the value was $0. The DMV could not look up a value since at the time KKB did not put a value on old cars. However, I learned that DVM would only allow a minimum value of $100 nothing less at the time so I paid registration and tax on that.
The second car I did was a 66' mustang which need to be restored in was in okay shape. I paid $1000 we told the DMV $500 (had a receipt) they said no way, that car value was $1800 so I had to pay registration and tax on $1800 and there was no discussing it with them.
My understand it still works that way except they do not use KKB but their own database of car values. I am not sure how they handle thing like my truck which I still have and is a street rod. it was a value of around $10K today.