The seller put the wrong price on the pink slip, but I did not notice.
I purchased a vehicle from a private party. After I got home from the DMV I noticed that the seller had put the wrong selling price on the pink slip. He put only $300 but the actual selling price is $1500. What should I do? Can I go back to the DMV and tell them that it was only an innocent mistake? I want to pay the correct tax.
thank you,
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stever
Guest Posts: 52,454
I sold a car last month and messed up the title. The DMV here in Michigan just lined the error out and put the correct info in - they didn't care about the mistake so long as they could see the change. Your state may be pickier, but I can't imagine that they'd turn down a bit of extra tax money.
Your biggest issue may be that you've already submitted the paperwork, and if they want you to redo it, that could mean more forms (perhaps at an additional cost) and time spent doing the correction.
Oh, my buyer asked me to put a lower sales price on the title to save him some tax dollars, but I told him I was uncomfortable doing so. I suppose your DMV could contact the seller and try to find out whether his intentions were innocent, but I doubt that they'd much care unless a lot of that kind of fraud happens in your area.
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isellhondas
Member Posts: 20,342
Here in Washington State, if they think the selling price on the title is too low, they look up the KBB value and unless you can PROVE that the car was sold below book because of some problem with the car, they will charge you tax on the KBB number!
Personally I think that is WRONG but this is Washington where we have no State Income Tax but we get taxed to death on everything else!
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Mr_Shiftright
Member Posts: 64,481
i would just sit tight and see if DMV says anything about it because it may be way more hassle to interrupt the process that is in motion than to correct it later on.
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thank you for the advice