Should have told them it was a 5K beater
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Should have told them it was a 5K beater
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Posts: 743
Location: Northern NJ
Posts: 8,581
My VIN: 10757 1st place Concourse 1998
If you have a Bill of Sale for a reasonable price (not $1), and can justify it based on condition, they might argue about the value but ultimately would have to settle and accept a lower amount. No way they can just look up a car in a book and say what it is worth without taking into account the condition it is in. A non-runner won't be worth book value.
David Teitelbaum
Posts: 743
Why not? That’s exactly how excise tax works. Your car is assigned a value by the town, and you are taxed accordingly. In the many years I have paid excise tax no one has ever come to my house to evaluate any of my cars prior to assigning them a value.
Can you fight it? Maybe. But.......it’s called TAXACHUSETTS for a reason.
Posts: 743
I was correct:
“If the motor vehicle is casually sold (not sold by a dealer or lessor), the use tax rate is 6.25% of the greater of:
The actual amount paid for the vehicle, or
The vehicle's clean trade-in value (book value)”
One way or another, Taxachusetts will get your money!
Location: Danvers, ma
Posts: 104
My VIN: 4328
Yes I knew this but I've never heard of them using any type of bill of sale so I was wondering what value from the nada guide would be used because there is a low, average and high price listed under delorean.
Posts: 743
I had to bring a bill of sale due to the buyer being in CT and they don’t issue titles for vehicles over 20 years old. They had me for the full price. However, it might be different for you, but since DeLorean is not in the system, I’m not sure. I would bring your bill of sale just in case in case they can’t look up the amount and won’t issue.
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Location: Massachusetts
Posts: 65
The NADA values are 19,000 low 33,900 average 55,200 high They will go for the low value.........but sometimes if you have a kind person at the DMV they will let you get away with a lower value if you have a bill of sale. It is worth a try, but be ready to pay on the low value. Also at the moment the Mass DMV is not letting people do anything with "toy" cars only every day transport......unless you "know" someone who can get it done for you. Good luck.
Location: Massachusetts
Posts: 65