H/C LS6Z

iTrader: (4)

Hey guys had a couple questions about registering my recently purchased 01 z06.

1. I know with the new laws texas says you pay I think 20% KBB on the title of the car. Do you guys list your car at the tax office for trade in or personal value on KBB?

2. I'm trying to do this for like $700. My math I ran earlier said I'm gonna be close to $1100 with plates and everything. Anyway to get around this and get this number around 700?

3. What do the vette guys do when you buy a higher dollar valued car from an individual? I know this is great reason to buy from dealerships, but mine came from an individual...

4. What should I put down as the value when I go to the tax office today? I was thinking like $15K Not to make it too suspicious. What you guys think?

Any help much appreciated!!!

02CamaroSSLE

iTrader: (5)

it doesnt matter if you paid 100K for the car or 20 bucks, they go by how much the car is worth not by KBB but by something else just dont know what it's called... it used to be you could say it was a gift and you wouldnt have to pay taxes on it but they changed the law from what i heard. i do not know of a way to get around it but i know for sure that putting down how much you paid for it doesnt matter, hopefully for your sake im wrong but im like 75% sure.

mitchntx

iTrader: (14)

http://www.txdmv.gov/vehicles/titles...tive_value.htm

There is a guide in there where you plug in your vehicle's VIN and odometer reading and it will return your SPV.

Then, it's 6.25% of that value

H/C LS6Z

iTrader: (4)

Sad to say but I think you're rigght! I'll find out later on today......I guess all I can do is try and smooth talk the girl behind the counter lol

H/C LS6Z

iTrader: (4)

Awesome!!!!

So they go 20% off that number correct?

mitchntx

iTrader: (14)

I dunno ... whatever the guide says.

I imagine KBB says your car is worth around $20K. Does the guide say $16K?

H/C LS6Z

iTrader: (4)

guide says $13025. The car has 64K on it. The guy I bought it from said recently the 01 Z's dropped in price. KBB said private party value was at $19K

mitchntx

iTrader: (14)

So the tax on the car will be around $800, right?

That's just the tax ... if it's newly purchased, then there are other fees associated with title transfer and registration.

Good luck!

H/C LS6Z

iTrader: (4)

Yea thats right. The guy that I bought it from left the title "open" meaining he didn't title it over from the guy he bought it from. I got the previous owner to the guy I bought it from's info. So who knows what the fees and penalties will be. And I gotta get plates for it to so that another $75-100

LS1x2

iTrader: (11)

You just go to the courthouse with the bill of sale. You know you are getting fucked when the fat ladies behind the counter snicker to each other about how big the check is you have to write.

I think most cars being bought from a private owner are <$20k.

thesource

iTrader: (60)

The amount you will pay taxes on is 80% of the value found on TxDMV website. This is in addition to the title fee and registration.