UPDATE -Does anyone know this 4.6is? No clean title :( - Page 15

sunny5280 · #**141** 11-30-2016, 09:15 PM

Quote:

Originally Posted by AV8R4AA

Here is the known truth.
The Government ALWAYS gets their money.

They have the manpower to pursue it to the ends of the USA.

I would recommend this to any person buying a car.

Call or get online to your specific State DMV.
They have the answer.

I learned (thankfully) that had I slapped down the cash and driven the car away,
I would have a very difficult and expensive mess on my hands.

Many people believe that a bill of sale is good enough.
Where I live it is used for toilet paper.
It means nothing more than proof that you bought a vehicle.
Probably not notarized, it's worthless.

I did learn that in my state, you can type in the VIN.
it will spit back a taxable dollar amount.
Surprisingly, my X5 of interest is "worth" or taxable value is 80% of 3600 dollars.
As I have done every time in the past, I tell the tax collector what I ACTUALLY paid for the vehicle.

It is THOUSANDS more than the minimum tax that WILL be assessed.

From here on out I will tell them I paid 5 dollars more than their
"Taxable value"

If you are a tax collector please disregard this posting.

I learned to do this many, many years ago (measured in decades). I bought a car and had the seller write up a bill of sale for a lower amount. When an unforeseen and unexpected problem cropped up on the sale and the transaction had to be unwound the seller gladly offered to refund the purchase amount written on the bill of sale. Yeah, that friendly guy who told me everything was good with the deal ended up trying to screw me after the deal had to be unwound. I ended up taking him to small claims court (wasn't a large transaction) and thankfully the judge believed me regarding the sale price and awarded me the full amount. Sadly I was unable to ever collect it.

So all of the advice I've been giving...it's based on some real world experience.

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AV8R4AA · #**142** 11-30-2016, 10:19 PM

Yes they did explain.
If I would have bought the X5 from seller, I would have been dependent on
the seller to go to tax office, slap down the cash and file for a new title.

Then wait for his new title to show up, go back over there, get it signed.

Kinda hard for most people to follow up after the sale.
Cash in hand helps fog the brain as to spending money for nothing by paying taxes
for a vehicle you don't even own or drive.

It's a little like asking for change from a prostitute.
" Madam, I'm aware of your price schedule, I only have a 100 dollar bill,
perhaps you can make change for our transaction "?

Yea, right......

crystalworks · #**143** 11-30-2016, 10:45 PM

^Ah, so just the standard canned response from them then. Thought they may have said something I was unaware of or something. Just checking.

Glad all is working out for you in getting the x5.

AV8R4AA · #**144** 11-30-2016, 11:36 PM

Quote:

Originally Posted by crystalworks

^Ah, so just the standard canned response from them then. Thought they may have said something I was unaware of or something. Just checking.

Glad all is working out for you in getting the x5.

They have a 1-800 number.
I called twice. 2 different staff answered.
Very informative and helpful.
Both people said call 24-48 hours after seller gets title app done.
They will tell you if it's the truth.

YazX5 · #**145** 12-01-2016, 12:01 AM

Quote:

Originally Posted by crystalworks

To satisfy my own curiosity... did they explain to you why this was?

Oh, and yes... always find out the assumed value. Unfortunately you have to have a seller who will play ball with you for that to work. I had to pay full pop on the sales price of $10500 for her mtec X3 because the seller wanted everything notarized and done at the bank. Application for title, filling out the title, and bill of sale. No fudging numbers in that case...

In Illinois it used to be you can right down whatever you want on the bill of sale, 0 dollars say you got it as a gift. Now they changed it, you can only get a vehicle as a gift from an immediate family member and have to show proof of relationship. They no longer go by what your bill of sale says, they have a press amount for the vehicle depending on year I think it was, a percentage I believe. Anyways it was fun while it lasted.

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crystalworks · #**146** 12-01-2016, 12:41 AM

Quote:

Originally Posted by YazX5

In Illinois it used to be you can right down whatever you want on the bill of sale, 0 dollars say you got it as a gift. Now they changed it, you can only get a vehicle as a gift from an immediate family member and have to show proof of relationship. They no longer go by what your bill of sale says, they have a press amount for the vehicle depending on year I think it was, a percentage I believe. Anyways it was fun while it lasted.

They do the same here but now they call it assumed value or agreed value, I forget which. As AV8R said you can look it up on the DMV/TXdot website. You have to have a seller willing to write down a different amount on the bill of sale though.

Edit: Sales price also has to be written down on the title. Forgot to include that in the above.

sunny5280 · #**147** 12-01-2016, 07:21 PM

Just watched an episode of Judge Judy. Plaintiff accepted a truck in exchange for money owed. Took the title to the DMV where he was informed there was a title loan against the vehicle. While the case didn't state the title was clear I would assume the plaintiff would not have accepted the vehicle if the title didn't appear to be clear.

Joshdub · #**148** 12-01-2016, 07:28 PM

Quote:

Originally Posted by sunny5280

Just watched an episode of Judge Judy. Plaintiff accepted a truck in exchange for money owed. Took the title to the DMV where he was informed there was a title loan against the vehicle. While the case didn't state the title was clear I would assume the plaintiff would not have accepted the vehicle if the title didn't appear to be clear.

Are we basing legal advice off of Judge Judy now?