Odd question, maybe?

[CERO F1]

Sorry if this is the wrong forum for this but, got a friend that just picked up a classic car (in Wyoming I think)

So to the point, everyone has pulled the trick were you buy a car for whatever price and write in a lesser amount on the purchase price on the title.

He is worried that it could come back to haunt him sence he is financing the car.

So he's worried that the bank may find out some how

Any idea's

[hatrack]

If it's going through a bank your SOL, they own the title till paid.

[CERO F1]

Ok sorry I left that out. The title is old from the 70's and it has no buyer price.

He had a bill of sale made up for $1350 when he bought it for $13500.

So he got the loan for 13k, just got the title today, and when the bank collects the title, it will have no buyer price on it.

So he's currious to know if the bank can check into DMV records some how (wich should say $1350) when they know he paid 13k for the thing.

Sorry if it makes no sence

Thanks for replying

[Martian]

They will get the new title when its filed. So yes they will know.

[HONDA GHANDI]

The bank will only finance the car for what it is worth. What is written on the bill of sale means nothing to them. He will probably have to get a classic car appraisal and the bank will go off of that.