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GT3 / RS are easy to maintain, and the cost for the parts is relatively reasonable from the right channels. You can do mostly everything with basic handtools. IT's easier to maintain than a Subaru WRX STI for example.
Obviously Engine/ PDK replacement is pricey.
Here in TN, I think I paid $80 bucks a year to register the car. $80 bucks a month for full coverage insurance. TN does not care the value of the car. You do pay 9.25% sales tax on purchase price. That hurt.
Most opt for dealers. A 6 year service might be 3k easy.
State and Federal are separate entities and do not always communicate with one another but if the state audit shows gross negligence or fraud, then the state informs the IRS... I have never been audited but know several people who have and it is not fun.
Everyone can do what they want but everyone should know the facts and make their own judgement regarding risk exposure.
That is going to be with regards to income taxes, which is not at issue when registering a vehicle...
It depends on which state you live. In CT our cars incur property taxes yearly and while technically registering your car is seemingly unrelated, it is not because the towns are in contact with the DMV. Even if you don’t pay $4.25 property tax for a 1990 964 (the state min for tax) the DMV gets notified…
Montana Registration isn't cheap anymore. They have caught on to the fact people are registering their high dollar cars in the state so they implemented a new plan of adding $825 to the registration fee if the vehicle is less than 10 years old and had a base MSRP of $150,000 and over. So a GT3RS in Montana is now about $1100 to register per year
Montana Registration isn't cheap anymore. They have caught on to the fact people are registering their high dollar cars in the state so they implemented a new plan of adding $825 to the registration fee if the vehicle is less than 10 years old and had a base MSRP of $150,000 and over. So a GT3RS in Montana is now about $1100 to register per year
The registration only part of the equation. Calculate the sales tax of a a $2 million vehicle… then add yearly property tax that many of us pay versus $1100.
I know someone who recently registered a car in Montana and his vehicle is in that tax bracket… but he clearly knows what he is doing and what chances he is also taking.
That being said, I have wondered why more collectors don’t use the “dealer” category?
The registration only part of the equation. Calculate the sales tax of a a $2 million vehicle… then add yearly property tax that many of us pay versus $1100.
I know someone who recently registered a car in Montana and his vehicle is in that tax bracket… but he clearly knows what he is doing and what chances he is also taking.
That being said, I have wondered why more collectors don’t use the “dealer” category?
No I understand those numbers well. I thought the OP was only referring to registration costs.
I'm not sure I'd consider that the cost of doing "business"... Business implies some sort of fair exhange of goods/services for fair market value that both parties enter into willingly. The word you are looking for is "extortion" or "theft"
I'm not sure I'd consider that the cost of doing "business"... Business implies some sort of fair exhange of goods/services for fair market value that both parties enter into willingly. The word you are looking for is "extortion" or "theft"
*makes the world's smallest violin gesture*
If you're going to be living in one of the wealthiest parts of the planet and have the means to buy fun cars that cost 10x more than a simply functional one then it doesn't strike me as unreasonable that you're going to get taxed for the privilege. Last time I checked nobody's being held a gun to their head to buy luxury items. The exchange that is happening here is that you get to live in a place where you can make lots of money and buy toys. To make money you have to be in a place where there IS money.
If you're going to be living in one of the wealthiest parts of the planet and have the means to buy fun cars that cost 10x more than a simply functional one then it doesn't strike me as unreasonable that you're going to get taxed for the privilege. Last time I checked nobody's being held a gun to their head to buy luxury items. The exchange that is happening here is that you get to live in a place where you can make lots of money and buy toys. To make money you have to be in a place where there IS money.
Ya, I like to complain as much as the next guy but a thread about registration costs on a $200k toy is a bit cringe worthy.
02-10-2024, 09:10 PM
