View Single Post
      07-19-2013, 08:21 AM   #13
Maestro
Captain
 
Drives: 2007 335i Sedan
Join Date: Nov 2006
Location: Philadelphia

Posts: 864
iTrader: (0)

Quote:
Originally Posted by MadDog View Post
Not really. Of course, if you sell a 30K car and put down you sold it for $200.00, then that may be questioned.

If you sell it non-op, the only money you save is the registration fee, not the use tax.
To your point when in CA I transacted two vehicles a 53 Ford 100 which was my dad's and he gave it to me and when I transferred ownership they ask what I paid and the right answer was $0 well the DMV did not like that answer I was not allowed to say the value was $0. The DMV could not look up a value since at the time KKB did not put a value on old cars. However, I learned that DVM would only allow a minimum value of $100 nothing less at the time so I paid registration and tax on that.

The second car I did was a 66' mustang which need to be restored in was in okay shape. I paid $1000 we told the DMV $500 (had a receipt) they said no way, that car value was $1800 so I had to pay registration and tax on $1800 and there was no discussing it with them.

My understand it still works that way except they do not use KKB but their own database of car values. I am not sure how they handle thing like my truck which I still have and is a street rod. it was a value of around $10K today.

Last edited by Maestro; 07-19-2013 at 09:52 PM.
Maestro is offline  
0
Reply With Quote