How much is my rust-bucket really worth?, Robbed at the MA DMV today Options

[flippa]

I went to get the title for my car today at the registry. I will admit that it has been years since I have been there to register and/or get a title for an older car.

The woman at the counter told me that Massachusetts no longer assess the sales tax on the sales price of the car as too many people were cheating the system. The sales tax would be based on the car's book value. She left to go & look up my car's value. I thought to myself, "it's 37 years old, how much could the assessed value really be?"

I was shocked when she returned & told me that the car had a value of $8,900, and the tax would be 5 percent of that value, or $445. WTF????? I told her that I was surprized, stating that it is a 37 year old restoration project.

I asked nicely if she was sure about the value. I explained that I had the bare bones 1970 4 cylinder car, not the 6 (no need to piss her off, she is going to have a part in deciding how much I will be paying).

After looking up the value again, she came back & asked if $5,400 was better. What could I say? I was "saving" $175. Walked out with my new title and several hundred dollars less in my checking account.

How do the Department of Motor Vehicles / Registrys determine the value of the cars? Is it the same value that an insurance company would be using? Who determines these values? I know the 914's are increasing in value, but $8,900????

What is my 914 really worth?

[championgt1]

I just recently purchased a 94 ford f150 truck for $4700. I went to get it titled and the lady told me I had to pay Washington state tax on the truck based on fair market value. How much was that, $7400. Washington state bases the price on what they call an industry standard source, the National Market Reports(NMR). Fair market value is what the vehicle would sell for on a DEALERS LOT!!! I bought mine from a private party and had the bill of sale and that was not good enough?? She told me the only way I could get around it was to A: get estimates for repairs needed to the vehicle. B: get the retail value from the kelly blue book or C: go get the truck appraised at an authorized Ford Dealership. Oh and by the way you have to have this done and the title transfered within 15 days or there are fines on top of the cost of the taxes and title transfer. Needless to say I left there completely pissed off. Two days later just on a whim I went to a diffrent DMV office and that office gave me the title and made me pay taxes on only the $4700 that the original bill of sale said. NO QUESTIONS ASKED!! And we all wonder why state governments are totally screwed up. (IMG:style_emoticons/default/ar15.gif)