Guess the car dealerships are going to be very busy on Saturday.
Many years ago, father in law gave us a car. The gift tax was higher than if he would have sold it to me.
I just recently purchased a vehicle. When you go to the court house you can put whatever you want down as the price you paid......no questions asked.
However, there is a BIG sign there that says if you falsify this amount and you're caught the penalty is something like $1,000.00 and jail!!
Obviously I gave them the right amount.
FIL gave me a car many years ago and the title transfer was higher because it was a gift than if he’d have sold it to me.
It was nothing more than a car to take to the beach and keep our other vehicle from suffering premature decomp from the salt and sand.
63 Mercury Monterrey, slanted back window that rolled down and a 390, I loved that car. :)