Is the Amount on the Used Car Invoice Important?

[OJoseph]

Used car invoice amount is important because taxes are required during the vehicle transfer process. After the vehicle is appraised by the Price Bureau, a transfer tax of 1% of the appraised price is levied. The price on the unified used car sales invoice is the appraised price determined by the Price Bureau. Below is relevant information about the tax invoice: Function of the tax invoice: The tax invoice consists of five copies in one set. The first and second copies are given to the buyer, while the remaining three copies are retained by the issuing company. Of the two copies kept by the buyer, the first copy is for personal records and can be used for vehicle insurance transfer, and the other copy is submitted to the service center for business processing and archival purposes. Notes on archival retention: It is important to note that the second copy of the invoice, used for archival purposes, has a validity period of one month. The buyer must complete the transfer procedures within one month of the invoice issuance; otherwise, it will expire and need to be reissued.