Hi all, I'm in WA. I'm going give one of my old car to my "real" brother. Probably worth 2-3k at best. So could I just put $1 in the transfer price? Or would DoT make up their own value? Thanks
Transfer of Vehicle Ownership between Family in WA
Lancerx on 04/06/2019 - 01:50
Comments
Thanks, but the catch 22 is the vehicle had done very high kms, even though only 2011 model. Literally close to 290k. So would they value based on km or model year? Guess 2k would be reasonable amount eh?
Not knowing the make or model, accessories, conditions etc - I couldn't say. For that amount of Ks I would roughly guess around the 1-2k mark.
Use Red book to get a good idea if valuation. Higher kms means towards lower emd of Red book value range.
Didn't really say if I could just put unusual amount like $1. last thing I want is they come back with valuation like 4k.
Then put in a realistic amount………..
Just make up a price, they don't care.
I think they'd find any 2011 car to be suspiciously undervalued at $1..
The only time you won't pay fees is if you transfer to your spouse, otherwise it says on the form.
NOTE: Vehicles which are transferred for no monetary gain need to have an amount provided for which the vehicle might reasonably be sold, free of
encumbrances in the open market. i.e. its dutiable value.