Kelley Blue Book Actually Re-Valued
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From: Boston, MA
For every moron that is "ultra pleased" that his car is "recognized as something special" by some absolutely irrelevant anonymous entity, there will be dozens of us paying higher state taxes on purchase of our 993.
But, hey, as long as he's "ultra pleased", right?
But, hey, as long as he's "ultra pleased", right?
Three Wheelin'
Joined: Mar 2007
Posts: 1,250
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From: Vancouver Island
Like yourself I am not selling mine and don't really care of the value of the car, other than for the insurance value. I just ran mine, a 95 C4 with 56K miles through the KBB. In good condition, suggested retail $40,220. Private party retail, in good condition, $35,870. It looks like their prices are all over the map.
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Burning Brakes
Joined: Apr 2009
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From: Mountains of NC
What is your problem?? Didn't get any last night??
Burning Brakes
Joined: Jan 2009
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The thing that does help with the latest KBB pricing is when it comes time for insurance to pay out if the car gets totaled or stolen. At least you have a published figure that can help your case for a decent settlement.
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Three Wheelin'
Joined: Mar 2007
Posts: 1,250
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From: Vancouver Island
As I live in Canada I had to put in a US zip code so I used the only one I knew offhand-90210. Not sure if KBB's prices are done by geographical area or not.
With regards to using KBB prices for insurance purposes in the case of theft, or a car that has been totaled, I would hope that their figures would be used in determining reimbursement.
With regards to using KBB prices for insurance purposes in the case of theft, or a car that has been totaled, I would hope that their figures would be used in determining reimbursement.
Burning Brakes
Joined: Jan 2009
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That's very true.
But if the value isn't accepted by the DMV, they will go by the published book value. Although I imagine that's rare and only in obvious tax cheater instances (like somebody saying their used 458 Italia purchase was only $50k
)
We do have the registration renewal that's based on book value according to the DMV. I once asked how they determine it and they said it's based on a formula from "various sources like KBB" and the original purchase price.
I have a car that had a high purchase price (tax was high as was the initial registration.) The registration is still high even though the car's real market value is a lot less now.
But if the value isn't accepted by the DMV, they will go by the published book value. Although I imagine that's rare and only in obvious tax cheater instances (like somebody saying their used 458 Italia purchase was only $50k
)We do have the registration renewal that's based on book value according to the DMV. I once asked how they determine it and they said it's based on a formula from "various sources like KBB" and the original purchase price.
I have a car that had a high purchase price (tax was high as was the initial registration.) The registration is still high even though the car's real market value is a lot less now.
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From: Boston, MA
In many states, including MA, the tax is based on the "book" price for non-dealer purchases and pretty much any purchase from out of state, private or otherwise. That "book" happens to be NADA, but it doesn't change things.
So, yes, no kidding, indeed.
So, yes, no kidding, indeed.
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From: Boston, MA
Oh, the real estate example is very good. You pay tax based on appraisal. Woopeee. "My house is really expensive, I'm glad to pay high taxes". Instead, a number of people in Cali actually petitioned to reduce their tax appraisals since 2008.
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From: Bend, OR
The "no kidding" was based on my agreement with the question about questioning your "problem" after seeing "moron" in your earlier post, presumably steered at the OP. It had nothing to do with your statement on how taxes are derived.
