buying a car, bill of sale/registration q

[Street_Kings]

so i'm buying a car from a private seller here in a bit. Part of the deal is the owner is covering taxes and registration fees in his asking price of 26k. On the bill of sale and thus the registration, its going to say 15k to save him cash on tax and registration. Question is, if something happens to my car causing a total or something big, will insurance short me due to lower reported purchase price?

[guessinthe2000]

NOPE... I would actually write down less than 15k to save some money at the time of registration.

[jackmode9316]

Shit I wrote down 300 as a purchase price. I think its safe to LOWBALL the DMV. Besides you can also play the whole "EXTREME BODY DAMAGE" or "MOTOR WORK NEEDED" Card. They wont get off their asses to actually check.

[nicklk]

I'm pretty positve he is dealing with a newer car, not a POS daily driver. Anything lower then $15k may send up a flag, I dunno.

[Skaterkid]

You can be audited for low car prices.

[STIBungy]

Dont set yourself up to get pwn3d. If you're gonna make up a sales price to evade taxes, at least be reasonable.

[jackmode9316]

Ill admit that I dont know. You Definently dont want the BIG IRS up your ass.

[guessinthe2000]

I have been told this... If you get a car as a present that was brand new, you can't write down that you paid for it 15k... You can write down like a dollar. Tell the DMV if they ask any questions... My grandpa sold it to me for that price, what do you want me to do? he wanted to help out and sold it to me for that cheap.

[jackmode9316]

I have been told this... If you get a car as a present that was brand new, you can't write down that you paid for it 15k... You can write down like a dollar. Tell the DMV if they ask any questions... My grandpa sold it to me for that price, what do you want me to do? he wanted to help out and sold it to me for that cheap.

I think if you got audited you may be in some trouble. Unless you have the person(person selling the car) lie in your favor.