Need some advice on buying a car with cash

[nachoconqueso]

Its a private owner and I'm saving up over the course of a year. I have a regular job where I make about the cost of the car in a year and I have my under the table income where I make the same. How do I avoid IRS trouble? Do I need to put all my regular income in savings for the purchase of the car and use my under the table income for rent, bills, food, etc?

Let's say you hand the DMV a bill of sale and they pass that on to the Dept. of Revenue so you can be billed for the taxes. Are they going to look into the purchase as well? The former owner will also make a large deposit from the sale that's sure to throw up a flag. Someone give me some advice! I want my car.

 

[Numbnutts]

I wouldn't worry it's just buying a car. You work on the books and how do they know your mom didnt help you Buy it don't worry I just bought a truck cash and they asked me to pay twenty five up front and finance three months then pay off the rest I did it because they have me am extra 2000 off the truck. And it was a new 2012 so sticker was 48,700 I got it for 35,000. They get a bonus if you finance

 

[nachoconqueso]

I just feel awkward about handing a guy $30k in cash knowing that these types of sales are documented and put into the system. I feel like the money only has an origin if I can prove how I saved it. If rent and food are coming out of the bank account then it's like how did you afford this car?". I can't say enough how bad I want my car back. This is what it looked like: http://s635.photobucket.com/user/Relentless1991/media/197020Chevelle20SS.jpg.html

If that was your car you'd want it back just as bad as I do.

 

[Stoner4Life]

here:

https://www.icmag.com/ic/showthread.php?threadid=257223

 

[noyd666]

lol certantly would.

 

[festerous]

What about buying a lesser Chevelle and putting 20k into it? You could always say you did the work yourself.

 

[nachoconqueso]

here:

https://www.icmag.com/ic/showthread.php?threadid=257223

I guess what it comes down to is that I'm handing a guy cash and he still has to deposit that cash. Since that deposit is tied to me through a bill of sale I guess I couldn't make the transaction straight up. Gonna have to save with my legit money and pay the rent/bills with cash. Boooooooo, damn the man for making my life slightly more complicated.

 

[nachoconqueso]

What about buying a lesser Chevelle and putting 20k into it? You could always say you did the work yourself.

Seriously you're reading my mind. Only problem is I don't have a garage to work on it in unless I rented a storage space which is very possible. Hmmmmmmmm

 

[festerous]

Who needs a garage when you are building a engine from scratch with after market parts. I would certainly not complain if i found a tricked out 454 in my living room.

 

[RespectGreen]

Have someone buy it who can prove, drive in there name for a bit, then have them sell it to you? obviously cheaper, gift/or good who ever deal... Have to pay transfer fees twice, but it seems doable?

I know as of now all my "stuff" is in someone else's name, besides my house and gas because having $ is also hard for me.