I never would have thunk it

[Don Coatney]

While at the Indiana DMV today completing registration and tags on my D-24 they gave me a current NADA estimate of value of the Dodge. So I asked for one on my P-15. I was surprised at the comparisons. I would have thought that Dodge being a ladder rung above the Plymouth would have the higher value. These estimates are current as of June 29, 2016.

 

 

[thebelvedereman]

I just called hagerty for insurance on my 48 p15 and they said low actual value in fair condition was $38,000 I just started laughing, and she said its a very very rare car sir, so I guess I'm gonna sell her and buy me a hemI cuda LOL !!!!!!!

Edited June 29, 2016 by thebelvedereman

[TodFitch]

I notice the fine print at the bottom of the NADA price print out:

 

High Retail Value

 

This vehicle would be in excellent condition overall. It could be a completely restored or an extremely well-maintained original vehicle showing very minimal wear. The exterior paint, trim and mechanics are not in need of reconditioning. The interior would be in excellent condition. Some vehicles may be considered “matching numbers” vehicles.

Note: This column does not represent a “100 Point” or “# 1” vehicle*.

* A “100 Point” or “# 1” vehicle is not driven. It would generally be in a museum or transported in an enclosed trailer to concours judging and car shows. This
type of car would be stored in a climate regulated facility.

 

So the collector car insurance company, dealing with people owning "trailer queens" probably do see valuations quite a bit higher.

 

[BIGBAND39]

The Rhode Island DMV, despite any value written on a bill of sale, charges taxes on high retail value.  For my D-11, it's $13,500.  Not nearly as bad as the 1962 Ford Ranchero that I bought which was falling apart.  After being told that I needed to pay 7% taxes on $40,200 for a car that cost me $3500, that was the end of that.  It always helps to know a dealer that can take care of unfortunate circumstances like that. 

[TodFitch]

The Rhode Island DMV, despite any value written on a bill of sale, charges taxes on high retail value.  For my D-11, it's $13,500.  Not nearly as bad as the 1962 Ford Ranchero that I bought which was falling apart.  After being told that I needed to pay 7% taxes on $40,200 for a car that cost me $3500, that was the end of that.  It always helps to know a dealer that can take care of unfortunate circumstances like that. 

 

Off topic but this reminds me of my experience in Maryland in 1974. . . Turns out that at that time (maybe still now?) when you brought a car into Maryland they wanted to charge you sales tax on it regardless of how long you owned it or if you paid tax in some other state when you bought it.

 

In my case, when I bought the '33 in New York state the fellow gave me two bills of sale: One for me with the real amount and one for $50 to give to the DMV because he knew they'd want to charge me tax. Being the honest, young fellow that I was I used the bill of sale with the actual amount when I transferred it and registered it at the NY DMV. A bit over a year later, graduated from college and on to my first job in Maryland, I was not inclined to pay tax again so the $50 copy of the bill of sale magically appeared at the Maryland DMV.

 

No such BS when I moved to California. Other BS yes, but not that bit about paying sales tax on a car you've owned for over a year.

[Plymouthy Adams]

sad part is many that the max rate is not reflective of the cars condition...many are not anywhere near the top value...appraisal will cost you more than the added tax...its a catch 22

[BIGBAND39]

Absolutely.  Even worse, it can deter people from buying these older cars and restoring them to their former glory.  Who wants to buy a roller in decent condition and pay more in taxes than they paid for the car?  That's not even getting into paying excise taxes on it every year.  There should be incentives to those who own antiques!  We all are, literally, preserving important pieces of American history.

[Plymouthy Adams]

lets look at it in another light...the collector car taxed on it true value based on condition is STILL offsetting the cost of road maintenance that the tax is partially for as they rarely will be driven on the road like the daily commute...so they getting max return on your dollar right there...

 

everything about the hobby is PAY TO PLAY...accept if or forever be a bitter owner

Edited July 2, 2016 by Plymouthy Adams

[dale]

In Minnesota here i went in to transfer my 1946 Plymouth title and buy plates. The average value she said was about 14 thousand and was going to charge me 7 1/2 sales tax on that amount. When I told her the car was fresh out of the junkyard without a motor etc. she sayd I could buy lifetime collector plates for $225 and pay tax on what I paid which was $1200... May be the same in other States seeing Minnesota is the Land of 10,000 Lakes... AND taxes.

[austinsailor]

In Mo. tax is on actual sale price, and $25 for a lifetime plate. Guess it's a good deal?