| quonzilla |
hey guys .. i need some advice/help
iam currently planning to buy a car over from vancouver..
what kinda paper work needs to be done?
i have a friend in van thats going to buy the car for me.. then sell it back to me.. would the amount on the bill of sale matter? ex. can he put 1 dollar on the Bill of sale.. or should he put 29000.00?
thanks for your help! |
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| anschutz_93 |
Well @ 16 I bought my '84 lebaron off my dad for $1, so that works fine.
You could also just get the bill of sale faxed to you, sign it, fax it back and have your friend purchase it on your behalf. |
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| Dan_Gyoba |
The value on the bill of sale is part of what the insurance company will see, and therefore pat of what they'll take into account as the car's "value" -- though obviously $1 is a bogus value, and they'll want to know what it's really worth. Probably they'll just take it's book value in average condition.
If that book value is less than the ACTUAL purchase price, you should put the real purchase price on the bill of sale. It's not like you have to pay taxes on it.
You will, of course, need an OOP inspection before you can register the car, but no matter what, you'll need that.
Other than the OOP, it's really no different. |
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