[wouwou]

As titled, do I have to pay tax to the gov't on the proceeds from my car, or only the buyer needs to pay when he register the car at autoplan?

[johny]

buyer pays

[cdizzle_996]

Only the buyer

[wouwou]

SUPER.

so it's cool if I lower the selling price on the title transfer paper so the buyer can pay less?

[TypeRNammer]

It's up to the buyer to declare the value of the car.

[Noir]

SUPER.

so it's cool if I lower the selling price on the title transfer paper so the buyer can pay less?

Autoplan Agent has a "Gold Book" for a used car's market value. If the buyer declares that value of your car is lower than the Autoplan Agent's said "Gold Book" value, they will be asking you for a reason to justify the price.

AFAIK though, they don't follow up on the validity of your reason though; but just keep in mind that you do have to think of one.

[keifun]

I made up some bullshit saying how the buyer wanted to get rid of his car, hence why I declared $9000 when I actually bought the car for $13000.


Just come up with something believable I guess

[TypeRNammer]

I made up some bullshit saying how the buyer wanted to get rid of his car, hence why I declared $9000 when I actually bought the car for $13000.


Just come up with something believable I guess

Is it even safe to say that in the public?:rofl:

[The_AK]

Is it even safe to say that in the public?:rofl:

lol yea no kidding, especially if you have your car posted here on RS and if cops can track it down somehow

[RRxtar]

just put "needs work"

[tiger_handheld]

buddy - just say "GIFT" .... no one checks the accuracy of those forms..

[falcon]

Just say the car needs some repairs. Clutch job is always a good one. Autoplan don't really give a shit. They just need something to write down in the computer.

[falcon]

I made up some bullshit saying how the buyer wanted to get rid of his car, hence why I declared $9000 when I actually bought the car for $13000.


Just come up with something believable I guess

Ya cause the whole $240 you save is worth it, right!?... lol worth having ICBC come after you?

[Alatar]

Ya cause the whole $240 you save is worth it, right!?... lol worth having ICBC come after you?

Someone failed math. It's $480.

But yeah, you need a "good" reason to have the "price" lower than the market value. I forget what percentage it is where they start asking questions, something like 15% lower than the market value of the car.

In my case, I did pay less than market value for my car, and actually put what I paid, and still needed a reason.

[Phil@rise]

Ya cause the whole $240 you save is worth it, right!?... lol worth having ICBC come after you?

ICBC doesn't care how much tax you payed on the car just the government does.
and cars needing general repairs are often cheaper then those not so they get sold for less ;)