Purchasing a 914 in 2021, SHOCKING! Options

[gandalf_025]

In Massachusetts, if you buy a car from a Licensed Auto Dealer…
You pay Sales Tax based on the amount listed on the Bill of Sale.
If you buy from a Private Party, they will look up the value independently
and you will pay Sales Tax on the higher value of the 2..

The Town you live in charges an Exise Tax, which is a Luxury Tax
on vehicles, boats and trailers..
I think it is based on 66.00 per thousand of valuation of the vehicle.
The value of the vehicle drops the first number of years till it gets
to 10% of the original price and stays there forever..
So a 1970, 914-6 would be valued at 550.00 now and stay there forever.
Or until they realize how much money they are missing out on…

[rhodyguy]

+ buying from a dealer here, the dealers like to, or attempt to, charge a documentation fee. To type into a computer. Last car we bought it was 'I'm not paying for that. Let's go honey'. Stood up to leave and the document fee was waived. $200 is $200. No gravy on the potatoes.

[SixerJ]

Feeling your collective pain & thinking about the no taxation with out representation comment. Car ownership is very different in the UK

I just sold my numbers matching all black 72’S coupe, 1st owner being the Crown Prince of Prussia, gentlemen racing driver & generally very eligible bachelor about town in the early 70’S as his father had just died & inherent the Royal title and I would imagine most of the estate

Change of car title to new owner - Free. Submit details online in the gov portal and title change to the new owner is completed right then and there / new title document arrives in the post within the week. Gov are not interested in the sales value, just the mileage to cut down on fraud

Sales tax - exempt. Duty was paid in 1972

Ownership tax - none. Just pay road fund licensing (to help upkeep) - used to be a flat fee (no more than $200 PA), now based on emissions for modern cars, anything over 40 years old - exempt from tax

Personal capital gains tax - cars are exempt as they lose money right?.....well most do, others after 26 years of ownership. Not so much

Total cost of ownership PA before servicing repairs and fuel - maybe $600 all in to cover insurance and the annual safety check (MOT $60 ish)

With the interesting providence, uber rare spec as one of only two black RHD S (1x Targa & 1x Coupe) built and the full history file from 8th August 72, I almost cleared the mortgage & shudder to think how much tax I & the new keeper would have had to pay in the US

Tea, harbours and stamps was a long time ago & you would be all welcome in the mother county (seriously we are short on just about all skills) & 914s are thin on the ground

Oh and importing those 914’s as a personal vehicle you have owned for more than a year - free from tax

[mepstein]

Really depends on the state. PA is actually very reasonable. They always accept my $500 purchase price so taxes (6%) are a one time $30. For antique cars, one time registration fee - for life and no inspection.
Pluses and minuses wherever you live.

[rhodyguy]

Then, if you sell 4 or more cars in a year you need to obtain a resellers licience. There are qualifications and rules for that as well. No titling in your name and 0, 0, personal use. The days of buying 914s on the cheap, maybe 3 at a time, with signed titles and the buyers valuation at title time, are over. Sales set the values of 914s. All of the auctions with reported sales prices drives what WaDOL considers the true value. 'It doesn't run and it's only worth $500' doesn't work anymore.

[Literati914]

I think in Texas there’s a tax on 80% of Supposed Valuation (Black Book rating) for used cars! But there’s also exemption if the car is over 25 years old - I have 4 project cars to register, all that I will have had well over their ‘30 day from purchase date’ compounding fees! Hope the over 25year thing is in force the day I go to have these registered. (IMG:style_emoticons/default/confused24.gif)

.

[Root_Werks]

The 914 was part of an Estate or Trust, yes, WA will want to tax that.

Been in charge of too many Estates and even a Trustee a time or two with cars ranging in value of -$250 to upwards of $100k. Some Estates/Trusts will state the "Gift" is free and clear of all taxes/fees yadda yadda. The recipient can make the Estate/Trust pay the tax at that point.

If you find an ignorant person at a DMV counter, they'll not know what to do and just transfer the title.

[jp-pnw]

WA has no state income tax, and property tax is lower than California, from personal experience. I kind of get the really high car fees because everything else is so much cheaper. Joe Walsh captured it more accurately:

"I can't complain, but sometimes I still do."

[campbellcj]

Wow!! I'm surprised. I just bought that v8 914 in so cal and I only had to pay sales tax. With California being broke with the highest welfare participants, i am surprised they also don't have something like that. However we now have a whole bunch of other taxes, that makes this the worst place to live.

However in California our annual 'registration' charges include a bunch of fees/taxes partly based on the value of the vehicle. Easily $300-700+/year for newer-ish vehicles. I'm not sure how annual taxes in other states compare.

Not to mention our fuel taxes... I've been seeing regular 87oct at >$5/gal lately around LA

[rhodyguy]

Then you consider how EVs fit in the puzzle. No per gallon fuel taxes that contribute to road construction and maintenence. More and more EVs? The short falls have to be made up via other methods or it all goes to shite.

[76-914]

WA has no state income tax, and property tax is lower than California, from personal experience. I kind of get the really high car fees because everything else is so much cheaper. Joe Walsh captured it more accurately:

"I can't complain, but sometimes I still do."

True that! Every State must have it's "pound of flesh" but how they get it varies. Lots of CA folks moving to TX because there is no State Income Tax. So where does TX get their pound of flesh? School Tax. Renter's don't pay a cent. (IMG:style_emoticons/default/beerchug.gif)

[StarBear]

And NJ - high property taxes, though a) most of ours (60%) is school tax, with county tax about 30% and local about 10%). BUT, no tax on food, prescriptions or clothes, so often comes out about comparable with most states except those that don't tax SS (NJ does). (IMG:style_emoticons/default/mad.gif) Very high threshold for estate tax, but I think that's being whittled away.

[mepstein]

And NJ - high property taxes, though a) most of ours (60%) is school tax, with county tax about 30% and local about 10%). BUT, no tax on food, prescriptions or clothes, so often comes out about comparable with most states except those that don't tax SS (NJ does). (IMG:style_emoticons/default/mad.gif) Very high threshold for estate tax, but I think that's being whittled away.

NJ is expensive. I grew up there and my parents still live there. I sold a lot of homes to people who fled NJ for less expensive Delaware.

[Amphicar770]

This is a good example of why people do stuff like registering vehicles in Montana via an LLC.

[Cracker]

Here is Rich's new ride...I took liberties in sharing it! (IMG:style_emoticons/default/biggrin.gif)

Regarding all of this tax/valuation nonsense...that's why God created loopholes.

Cracker

[Jett]

Here is Rich's new ride...I took liberties in sharing it! (IMG:style_emoticons/default/biggrin.gif)

Regarding all of this tax/valuation nonsense...that's why God created loopholes.

Cracker

You must be mistaken, Rich’s cars are not this nice!

[914werke]

(IMG:style_emoticons/default/biggrin.gif)

[Cracker]

I rarely acquire cars with engines anymore...a rolling chassis is defensibly cheaper. (IMG:style_emoticons/default/beerchug.gif)



Cracker