I got a free truck with a title. My question is about the purchase amout on the back of the title. Is there any hassle with putting down "gift". Would I be better off just saying I paid $100 for it and paying the $7 in tax. My whole thing with the DMV is to keep it as basic as possible so I can get out of there. Any one ever put "gift" on the back of a CA title.
My wife did a gift transfer to my (different) name on her toyota when she had to give up driving. DMV was no problem, I just ticked off gift and put $0 on the form...this is New Jersey, by the way. A few months later, I got a form from the tax office branch of the gestapo, which seemed fairly harmless, actually. The form simply pointed out that car prices were taxable and that I needed to verify the freeness of the transaction with signature from giver. I don't remember whether or not notarization was needed...anyway, I lost he letter, just like I do with every scrap of paper that comes near me, and I never heard anything else and am still running free...probably some moron in Trenton decided the easiest way to close the file before lunch was to lose the whole mess behind the filing cabinet. That or the SWAT team is waiting for me outside the library right now... I believe the whole gift=no tax thing will be accepted as legit, but your state (or is it a departamento in Mexico??) will likely ask for some sort of formal statement from you and the former owner. Worst problem will be dragging former owner to a notary. Hmmm...$5 for notary (maybe twice for two signatures??)...$7 tax on specious amount sounds pretty good. I thought about doing that, but apparently toyotas have some actual cash value and I would have to have used a fairly large number to look legit.
I'd put down $100 and pay the tax, the DMV can often be a real "lost in space" event. Hell, after finally getting our A rpu (1930) all squared away the gal behind the counter says "wait a minute......you haven't had this vehicle smog checked!".........another 30 minutes wasted as we had to lobby for a supervisor to put this person on the right page.
Bruce, your posts are a respite from some of the poorly worded and misspelled posts onthis board. That's the first time in a long time I've heard (read) someone use the word 'specious'. You're like a snipet of Masterpiece Theater or the Dick Cavett Show.
In CA, they will not even charge tax unless the purchase value is over $200....If you put 200, no tax... put 201, tax.... You gan put down "gift" if you want, it is no big deal.... They won't question someone giving you an old truck for free, but they will question a new truck for free.... If you actually have the pink slip, everything you need is on it... If it is properly filled out, then evrything will go quick... The only thing that might be a little problem, is I believe that now, I think they have started making you weigh the truck before registration... This can usually be done for cheap at the dump... Find one that weigs you on the way in and out..... some will charge, some won't.... you might need a form from DMV... I don't know if they just require this if you have a truck that has been out of reg for a while, or if it is with all trucks.... Go to the DMV website... If there is some special form needed, you can print it at home from there.... They used to also have a checklist of what was needed for different operatioons.....
I asked around about 9 years ago when I got my 54 and was told it is better to put a low price as they will want to charge the "fair market value" of the car when it's a gift. I had asked because my deal was a trade of sorts. Don't know if it's true or not, but it seemed to work out smoothly. The DMV did ask me to fill out a form (just a couple sentences) giving the reason why it was so cheap. I filled out the typical: rusted floors, missing fender, 8 different colors, missing interior, not running, etc. The lady just looked at me like: why are you buying this?
Specious.....Respite..... Y'all some verbose mother fuckers.... I should go back over my post and "spice" it up a little.....
Thanks for the replies, $7 or so for tax sounds like the way to go. And Bruce, you must read more than old Ford books at that library.
From my experience with CA DMV they will charge you tax on "fair market value" if you put it as a gift.
You WILL want a BILL OF SALE signed by the seller stating the $100 (or whatever) purchase price. It's true, they might try to "assign" a value of a gift so you should "buy" the car for some amount, on paper at least. The State and DMV "GANG" want their "cut" of every transaction deal, even your "free" deal, so if you try to get off for nothing they will possible stick it to you, all depends on the particular clerk's mood that day.
As said, the DMV will need a "value". This is not just for the sales tax on the transfer, but also for future registration, you should just put $100 and have a bill of sale. If the title is CA, you should not need any additional paperwork. If out of state, then it needs to have the VIN verified. But the simple answer is oout $100 down and pay the $7 tax as the easiest route and least hassle at the DMV gustapo.
as far as the weight thing goes, if it's pre 36 then you don't have to have it done. according to the ca. dmv book commercial vehicles don't exist before 36 (maybe they just figure that it won't actually be used to haul anything). i dealt with this several years ago when i went to register a model a pickup, i was told i had to have it weighed because it was a commercial vehicle. it was a total pain in the ass because i had to rent a trailer in order to take it to a weigh station. i got it weighed and went back to dmv a couple days later, i went up to the counter and the guys says "you don't have to have it weighed if it's pre 36" he showed me in the book where it said this, it just so happened that the lady that had told me i had to have it weighed was in the next counter space so she ended up getting involved and then the manager came out too. in the end i ended up getting a check from the dmv covering the cost of renting a trailer( had to show them a reciept) and for the cost of having it weighed, plus i got a formal appology in writing from the head of dmv. when i actually get a place with somewhere to put it i will get the letter framed and hang it on the wall. as far as the value just put $100 and you'll be fine
When I went to register my 56 Victoria I had a handwritten bill of sale for $50. It was dated a few years before and they knew that it didnt run then and now it did. I had to give a "Stated Value" on another form for the current value. I dont think it affected my fees, but they said it had to do more with insurance stuff. If I were you I'd just say it was $100 and be out of there.
The Jalopy Journal
