Anyone have access to NADA trade-in values?
 

Anyone have access to NADA trade-in values?

I may be purchasing a used car from a private-party and our state will charge me sales tax when I register the vehicle. According to the CT DMV site, sales tax is calculated as follows:

"Connecticut Sales and Use Tax based on the NADA average trade-in value or bill of sale value (whichever is higher)."

Based on the above, I may be better off having a bill of sale for the NADA average trade-in value and a separate transaction with the seller for the parts that he is including.

Call the dmv and ask them. If they're going to charge you tax on a pre-determined value, I'm sure they're obliged to disclose that calculation.

NADA has a web site. New Car Prices and Used Car Book Values - NADAguides

The states will have a range of acceptable prices for each vehicle. They will have a bare minimum for every vehicle that they impute onto the sale if you report the cost was lower than what they think the car should have sold for. If you call the DMV they will tell you.

Yes, but in most cases here in CA, if you can PROVE that you paid a lot less for the car, they will accept that. This would be the case for a salvaged car or a damaged car.

Parts should not be included in the bill of sale unless they are attached, IMO.

This is how it worked in VA. When I paid $17k for my Carrera in 2001, DMV tried to tax me on a value of $21k. I said I wasn't paying that. The lady gave me a bill of sale form, told me to leave the bldg., have a friend sign it and put whatever dollar figure I wanted on it and then to come back to her booth. Worked like a charm.

I have to add that the CA DMV will refer to average listed pricing when examining the registration papers. If the value is consistent with the price paid, they accept what you say. If the price you state you paid is way low, then you need to substantiate the price with pics, documents, etc.

I just did this last week.

I just got off of the phone with the DMV. I was about to shoot myself listening to the hold music for an hour. http://forums.pelicanparts.com/suppo...phone_call.gif

Anyway, they told me that they no longer check NADA for vehicles that are prior to 1994. They only base the taxable value on the bill of sale.

I guess I should be OK when I go to register my "project" vehicle.

Like you I've bought a few project vehicles over the years. Thankfully I got most of them cheap, ~1-2k, they were projects you know.

http://www.nadaguides.com/
nada doesn't have trade in values on the website anymore it seems. used to

1977 Porsche 911S 2 Door Coupe Value, Prices & Specs | NADAguides | NADA 1977 Porsche 911S Book Value & 1977 Porsche 911S Market Price

I went to the DMV here in Vermont to register my 1977 911s. I didn't have the bill of sale at the time, so they assessed my tax on this $15K figure. Total BS.

I later found my docs and got a refund.

down here, any vehicle over 9yrs old is not in the tax books anymore. every car I buy, according to my bill of sale... $100