what would (or did) you guys put on the title when you took it 2 the BMV to transfer the title.
im probably going after this class (at 2) so i know there wont be much time for response but im just tryin to see what is too low, or if they will actually care if i put a low price.
thanks.

 

I assume you're talking the "Sale Price" on the title... Put what you paid. If you want to put something lower, make sure they cannot prove you paid extra... (IE you didn't use a check to pay for it, and the seller knows that you lowered it so they wouldn't claim extra if asked.)

Mine was 3800 - I put 3800 - tax was 190. - Usually not worth modifiying the sale price for the titlework.

 

agreed - the only time i EVER lowered the price was when I paid cash and bought from a friend, and that was for a 1984 car that was pretty beat up, I put $100 on the title. Just go with what you paid, it couldn't have been too much so you can handle the taxes.

 

yea i paid in cash.
also does this have any affect if i were to need to make an insurance claim, or if the bike was totalled?

 

Nope - as far as I know the only time the purchase price is recorded is so uncle sam can get his cut. nowhere on the title will it say what you paid (so when you sell it to the next guy he won't know what you paid)

 

Im going next week actually to change titles, i paid 5K but im going to put 3 on registration slip. As far as i know they takethe higherof the values, Blue Book price vs selling price. In my case an 02' the blue book is around 3500, if i put 3, ill end up paying tax on 3500, at least thats how it works here in Canada (Quebec). That being said ill be safe putting 3K. I didnt pay cash, gave seller a cert cheque. And seller hand wrote a receipt for me for 3K.

 

A friend had an Older Elipse Turbo that was a very nice car. He claimed that he got it for dirt cheap on the title. He as at a traffic signal and some drunk ******* slammed into him, sandwiching 3 cars together. Because he lied about how much he paid, the car was a total loss. If you change the numbers, just be careful.