Great Car Advice

[RamblingMad]

Love this advice:

Now, I'm not mechanically inclined, so I'm not going to go as old of a vehicle as this guy. But it still makes a lot of sense, especially given the prices of vehicles today. I do expect prices to drop eventually. The Manheim Index is already going down.

What I'm saying is that a couple of years old Toyota might be a good deal for the debt dumper crowd in the near future.

 

[trippedup]

I've had great luck with second hand Hyundai Sonatas. There are so many of them out there as ex-rentals that they have terrible resale value, even if they weren't rentals. You can get 10 years out of one no problem if you buy it a few years old. They run forever properly maintained.

 

[tvguy]

Love this advice:

Now, I'm not mechanically inclined, so I'm not going to go as old of a vehicle as this guy. But it still makes a lot of sense, especially given the prices of vehicles today. I do expect prices to drop eventually. The Manheim Index is already going down.

What I'm saying is that a couple of years old Toyota might be a good deal for the debt dumper crowd in the near future.

Scotty's Youtube channel is a hoot. I bought both my kids used Tauruses from Hertz. They NEVER complained as my wife and I covered all car expenses. Some of their friends ribbed them with their "generic" cars. Then my son found an article that the most popular car among millionaires......the Ford Taurus.

 

[georgina]

Another reason to buy used if you live in Virginia, as a new resident we were not thrilled with the tax based on your car's value! We will be keeping our 2008 Buick and 2011 Subaru for a while. Probably go down to one car eventually as we are retired and doing less driving.

 

[tvguy]

Another reason to buy used if you live in Virginia, as a new resident we were not thrilled with the tax based on your car's value! We will be keeping our 2008 Buick and 2011 Subaru for a while. Probably go down to one car eventually as we are retired and doing less driving.

I thought most states with a sales tax charged sales tax on new and used car sales.

 

[afan]

I thought most states with a sales tax charged sales tax on new and used car sales.

Some states charge a, and I'm probably going to call it the wrong thing, a personal property tax. NC does on cars, boats etc. Not sure if other states tie it in with their license fees but I remember being annoyed at the extra tax bill when I lived in NC. However the tabs were also in line with what I'd been paying in WA, or at least not crazy different since I don't recall the shock at it being lower or higher there.

I would guess this is what the PP is talking about as having an older car is going to benefit you, whether it's adding with license tabs or separate.

 

[tvguy]

Some states charge a, and I'm probably going to call it the wrong thing, a personal property tax. NC does on cars, boats etc. Not sure if other states tie it in with their license fees but I remember being annoyed at the extra tax bill when I lived in NC. However the tabs were also in line with what I'd been paying in WA, or at least not crazy different since I don't recall the shock at it being lower or higher there.

I would guess this is what the PP is talking about as having an older car is going to benefit you, whether it's adding with license tabs or separate.

In California you pay sales tax when you buy a vehicle new or used. And you pay a registration fee each year that is based on the current value of your car. I'm not sure calling it a personal property tax is the best way to label it, it is the fee you have to have your car on the road. There are additional fees, too, Smog impact fee, etc.

 

[RamblingMad]

In California you pay sales tax when you buy a vehicle new or used. And you pay a registration fee each year that is based on the current value of your car. I'm not sure calling it a personal property tax is the best way to label it, it is the fee you have to have your car on the road. There are additional fees, too, Smog impact fee, etc.

In GA you pay ad valorem at point of sale or if you move there.

https://dor.georgia.gov/motor-vehic...ad-valorem-tax-tavt-and-annual-ad-valorem-tax
Of course, you're going to have to pay emissions for older vehicles too. This is a good reason to own a cheap scan tool to check your vehicle before going.

 

[RamblingMad]

Scotty's Youtube channel is a hoot. I bought both my kids used Tauruses from Hertz. They NEVER complained as my wife and I covered all car expenses. Some of their friends ribbed them with their "generic" cars. Then my son found an article that the most popular car among millionaires......the Ford Taurus.

I watch him purely for entertainment purposes, but he does have a lot of good advice. I like his advice to never own a BMW or Mercedes. Those are vehicles you lease because they don't last and are expensive to repair. I went to the mall today and saw a BMW with a Carmax tag. I laughed as I walked past. I like his advice to avoid certain make/model/years if you don't buy Toyota. Basically, lots of good stuff to make owning an auto cost less.

 

[DL1WDW2]

How you can you verify Auto History and flood damage? Do insurance companies report this to vehicle history or not required to disclose unless specifically asked… Buyer Beware?

 

[afan]

In California you pay sales tax when you buy a vehicle new or used. And you pay a registration fee each year that is based on the current value of your car. I'm not sure calling it a personal property tax is the best way to label it, it is the fee you have to have your car on the road. There are additional fees, too, Smog impact fee, etc.

Prior to the new law in 2013, this wasn't collected with the tabs. It was paid to the county you lived in. I lived there and paid it. It was in addition to your license fees. The 2013 law, which happened after I moved, combined them with license fees and put the responsibility with DMV.

It is a personal property tax. So I did recall it and label it correctly. And I'm fully aware of the other fees but not all states, like NC, care to do smog checks. WA has eliminated all emissions testing.

 

[georgina]

In California you pay sales tax when you buy a vehicle new or used. And you pay a registration fee each year that is based on the current value of your car. I'm not sure calling it a personal property tax is the best way to label it, it is the fee you have to have your car on the road. There are additional fees, too, Smog impact fee, etc.

Not sales tax, definitely personal property tax, 5.33% of the value of the car, every year. Some people were not happy that the value of their old cars increased this year for tax purposes due to the increase in used car prices. We did not have this in PA!

 

[tvguy]

It is a personal property tax. So I did recall it and label it correctly. And I'm fully aware of the other fees but not all states, like NC, care to do smog checks. WA has eliminated all emissions testing.

I was referring to California, where personal property tax is not collected on vehicles. While we do have smog checks in California, there is also a smog impact fee on your car registration.

 

[georgina]

I was referring to California, where personal property tax is not collected on vehicles. While we do have smog checks in California, there is also a smog impact fee on your car registration.

OK, well you quoted me above and claimed it was sales tax. My bill from the city of Alexandria VA clearly says 'personal property tax'.

 

[tvguy]

I watch him purely for entertainment purposes, but he does have a lot of good advice. I like his advice to never own a BMW or Mercedes. Those are vehicles you lease because they don't last and are expensive to repair. I went to the mall today and saw a BMW with a Carmax tag. I laughed as I walked past. I like his advice to avoid certain make/model/years if you don't buy Toyota. Basically, lots of good stuff to make owning an auto cost less.

Yeah, a former co-worker made the mistake of buying a used BMW. Said it was the best driving car he had ever owned, but the cost was nuts. He said the same thing, lease only, so you always have a warranty. Yes, he loves Toyotas. I bought my first Toyota last year so I will see. Had them in the 1970's as company cars, they were pretty crude in those days. And a friend who retired last year as a Toyota dealer mechanic after 50 years always said, the minute they start building Toyota Dealerships without service departments, you will know they are as good as they say. But in Toyota's defense, he did say that when they messed up a design, they stood behind it and fixed it. The V-6 head gasket issue cost them a lot of money, but they made it right.

 

[tvguy]

OK, well you quoted me above and claimed it was sales tax. My bill from the city of Alexandria VA clearly says 'personal property tax'.

I said "most states"

 

[RamblingMad]

How you can you verify Auto History and flood damage? Do insurance companies report this to vehicle history or not required to disclose unless specifically asked… Buyer Beware?

https://www.consumerreports.org/buying-a-car/beware-the-flood-of-flood-cars/

 

[npatellye]

I thought most states with a sales tax charged sales tax on new and used car sales.

In CT, you pay sales tax at time of purchase (plus whatever other registration and other DMV fees are involved) and then you have the pleasure of paying a personal property tax on your vehicle. The personal property tax on the vehicle varies by the town in which you live, as each town sets its own rate; rates range from 1.15% (in the highest average property value town in the state—Greenwich) to 7.43%. You pay that either once a year in full or pay half of it twice a year, depending on how your town bills its property taxes.

@georgina I also cannot wait to see our vehicle taxes hopefully decrease in another couple of years. With vehicles ranging from 2016 (bought used in 2017 from Enterprise with a whopping 250 miles on it) to 2018, we have yet to see a single bill below $500. I will likely cry for joy when that day comes.

 

[MomToOne]

I've had great luck with second hand Hyundai Sonatas. There are so many of them out there as ex-rentals that they have terrible resale value, even if they weren't rentals. You can get 10 years out of one no problem if you buy it a few years old. They run forever properly maintained.

I'm on my second Hyundai Sonata - my first went just short of 100K without any issues before it got totaled in a wreck. They are solid cars. Nothing is perfect, there is one engine issue SOME cars have (something about metal shavings) but thankfully my car doesn't seem to show the problem. And they've extended the warranty to basically cover that issue indefinitely.

My current one has just short of 80K models on it. I'm tired of driving a sedan - DD is grown so no need for a "family" car anymore. But I'm going to drive it until it dies, or until retirement (another 5ish years I'm hoping).

I was referring to California, where personal property tax is not collected on vehicles. While we do have smog checks in California, there is also a smog impact fee on your car registration.

The California "vehicle license fee" portion of your annual car registration is considered a personal property tax, at least by the IRS, since it is based on the value of the car. That's why if you itemize, you get to deduct it. (https://turbotax.intuit.com/tax-tip...is-your-car-registration-deductible/L06ja6RwR)

 

[sheilafri]

I have a 15 yo MINI. The A/C conked out but not worth fixing. We just use it for quick errands. I also have a 9 yo Lincoln MKZ from my MIL’s estate. They’re both at about 100k miles and doing pretty well. Just keep the oil changed, tires rotated and your car should last.