RGW LLC

iTrader: (50)

anyone here in MI?? please PM me if you can....

my friend just bought a car from me.....i guess the Michigan DMV requires NO paperwork when you go in....but don't i have to write my friend a receipt, so he can pay tax on it?? or how that works???

thanks

RGW LLC

iTrader: (50)

no one on here is from MI???

LexFather

Moved here for more help.

justin1642

iTrader: (7)

you don't need anything, they say to have a bill of sale just in case but you just tell them how much you paid for the car and they tax you on that. they look at the title portions filled out and if the selling price is blank they ask what you paid. and a date of sale cause if you wait like 6 months to register then you get a late fee charged.

Kzem

If you want to save your friend some money give him the title and tell him to put a low price on it so he saves on taxes

placer

If you claim you paid too little for it, the state will send you a letter demanding you pay tax on the book value of the car. It happened to me a few years ago. Not worth the potential hassles.

jspecdan

interesting. few years ago i had a 95 miata worth about 3000 and said i paid 500...no hassles.

92lexi

the most i ever put down was 150 bucks