Anyone ever lost a title?

[Bizzy]

The state cut a deal with the EPA so it won't happen right away, but eventually it will be coming back. They say that newer cars will probably be exempt until they are 3-4 years old and then they'll be inspected say ever other year. Older cars are going to be the targets.

 

[Huntervf]

Actually, not sure if this is nation wide or state wide but as of October of last year, Texas goes off of the book value of a car now....so what price we put in the blank is useless. Trust me on that law.... Ive owned a few cars in the last year hehe I cant remember the exact date but it was October of last year that the change was made here in Texas...... Definitely slowed me down from all my buying and selling. -Karson

I can't believe such a system would be legal. You mean to tell me if I pick up a cam-failed 1996 SHO for $400 I'd be expected to pay sales tax based on the current value of said vehicle in full running/driving condition? What if it also had a salvage title? How could one pay sales tax on a price that was never paid in the first place?

I'd have me a lawsuit quicker than OJ could say Johnnie Cochrine.

 

[greenbeanmtx]

I can't believe such a system would be legal. You mean to tell me if I pick up a cam-failed 1996 SHO for $400 I'd be expected to pay sales tax based on the current value of said vehicle in full running/driving condition? What if it also had a salvage title? How could one pay sales tax on a price that was never paid in the first place?

I'd have me a lawsuit quicker than OJ could say Johnnie Cochrine.

Yep I was blown away too. Im not sure if its only for certain years but so far it has applied to everything I have bought since it was done. The guy I just sold my mustang to was telling me about this 96 silverado he bought with a bad engine for 800 bucks and they charged him based off of book value despite his documentation for paying much less. It sucks. I know I joke around alot especially with Sam about all of the cars I have had over the last few years but the state of Texas has made a fortune off of me. Now that this is in place, it will seriously slow me down if not stop my buying. -Karson

 

[Denny]

Yeah, for sales tax you can tell them whatever you want provided the previous owner didn't fill in the selling price. There would be one helluva revolt if you had to pay sales tax on a figure you never paid out, and I think that's just slightly illegal anyway. If that were the case, just about every SHO nowadays would cost way more in tax than the selling price!

What you DO pay for based on the original selling price is the vehicle registration.

Mr. Smith speaks the truth, the original price is where the registration fees come from. The sales tax is a seperate charge, and yeah, it's so easy to pay as little as you can on used car transactions when you go private party sale.

Emissions coming to Michigan!??! Aww crap.