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      01-24-2012, 11:18 AM   #12

Drives: Double Vanos'd Civic-M3
Join Date: Oct 2009
Location: San Francisco

iTrader: (6)

Originally Posted by auggiem3 View Post
I've seen that guy at Cars and Coffee too - always wondered how much property tax a ferrari driver had to pay if my mid-60's M3 cost me almost $2k the first year and still being taxed at well over $1250 after 3 years.

So what is the deal with the Auto Trust - how do they work? Is it tax evasion in VA? Can it be your daily driver or does it have to be a collector car?
i looked into this. Unless you have the time and legal know-how, it's not worth it for a 60k and depreciating M3. There are lawyers out there willing to do all the paperwork for you, for a one-time + reoccuring fee, but it's just not worth it IMO.

I think it'll be easier if you have a second state of residence and just register the car there. (IE, a friend's house, parent's house) If you do this, remember to keep you local DC area insurance, and notify them your car is located in the DC area. They won't ask about registeration, but it doesn't hurt to ask them regarding disclaimer, if any, of cars registered out of state, and a out of state driver's license. This is just in case something happens, they can't come back and get you on "insurance fraud" and deny a claim.