Need advice from the North Carolinians

[Regina]

My DS got hired by the Carolina Panthers and will be moving to the Charlotte area at the end of June.

Rather than drive down his college clunker, we're thinking of driving him down and getting him a car ASAP, probably a Saturn Ion.

The other option is to buy the car in NY and drive it down, but I'm betting that your taxes are lower. That's where I need some help.

What's the tax rate on cars? How quickly can we get the transaction completed as far as registration is concerned and what exactly are the fees? And last, do you have Geico auto insurance down there? That's who we have now and I'd like to stay with them unless you have a better suggestion.

Any advice is greatly appreciated, including how to get his mother to let go of his ankles and let him move so far away.

 

[chell]

Well, I don't have a clue what the tax rate is on a new car here. That's not good is it? The dealer should be able to take care of all of the registration for you and have all fees included in the price of the car. At least that is what I have always done. This way you don't have to take a trip to the DMV. I wonder if the tax rates vary by county? If so, Mecklenburg will probably be one of, if not, the highest. If I find out anything else about it I will let you know.

My tax rate last year (although not for buying a new car, just the usual taxes) was .62.

Yes, we have Geico also.

I'm about 1 1/2 hours from Charlotte so I can run down and check on him if you need me to!

 

[hmp2z]

Hi! I don't know what the rate is, but I do know that taxes here kind of stink. They charge a whopping big tax on the car when you first buy it, then it's a smaller tax every year after that: .467% for Charlotte plus .8397% for Mecklenburg County every year. There is also a $30.00 auto fee, yearly. If your son lives in one of the close surrounding counties, like Gaston or Cabarrus, I am sure that taxes would be lower there.
Of course we have Geico here, and as far as getting everything transferred over, it depends on if you buy from a dealer or a private individual. I bought my car from an individual, and I just had to wait in line at the DMV, show them my title transfer form, and they charged me the whopping big tax amount and then sent me on my way. I got the title in the mail a few weeks later.
My husband bought his car from a dealer, and everything pretty much happened instantaneously; we just left the dealership with the car, and a while later, we got the official license plate in the mail. We have a car note, still, so don't get the title until it is paid off.
You might want to look online at the NC DMV website, and see if you can find out what that initial large tax fee amount is...
Cheers!
Heather W

 

[Regina]

Thanks for the suggestion to look at the DVC website. It answers some questions, but I'm still ??? over what the tax rate will be. I don't know what county he'll be in, so I guess we'll have to wait and see. I can't imagine it being higher than the 8.25% he'd be charged if he bought the car here.

Are you saying that your car is subject to some sort of annual tax after the initial purchase? I'm a little confused as to how it works in NC and the website isn't that clear.

That's great news about Geico! (They don't cover NJ so I wasn't sure if there were other states that they don't insure.) It will be much simpler to deal with a company that we've been with than to start over.

And thanks for offering to check on him for me. That's what he needs, the DIS Mom brigade.

 

[KathyTX]

The annual tax in NC is a "personal property tax", and is based on the the car's actual value, as determined by the state. If you don't pay it, you won't be able to register the vehicle each year.

The 2002 property tax rate for Charlotte/Mecklenburg County was 1.3067 per $100. Let's see... that means a car worth $10,000 would pay $130.67 for the year. There's also an "automobile fee" of $30.00 per year in Charlotte.

I haven't found the sales tax rate for cars. But I did find that if you purchase a car in another state that has a lower sales tax rate, and then move to NC within 90 days, you will have to pay the difference in the tax rate to NC.

Here's a link where you might find the answers, or at least a number to call with the questions:

Mecklenburg County Office of the Tax Collector

Best of luck!

 

[Regina]

Thanks KathyTX. That clears up the confusion about paying an annual tax assessment. Oh well, it's best to have a clear idea of what to expect than to be surprised.

Assuming that he'll be living in Mecklenburg, I still can't find the sales tax rate for new cars. If it's lower here, no problem buying it and paying the difference when it's registered in NC. We're trying to avoid losing money if it's higher here. The difference won't be refunded, and we'll also lose the NY registration fees.

I'll see if I can call them this week to get this info. I sincerely appreciate all of the help.

 

[chell]

By the way, what will your son be doing? Sorry that I forgot to ask earlier.

 

[Regina]

Why he's the quarterback! (JUST KIDDIN' ).

He's interned with the Panthers for the past two pre-seasons, working with the Equipment Manager. Now that he's graduated from college, they offered him another internship. This will be year round, with a two year commitment. (They usually become permanent staff at some point.)

He's low man on the totem pole, but that's okay. At least it's a start and hopefully will lead to a career working in the NFL. That's been his dream for a long time. We're very proud of what he's achieved.

I just wish that it wasn't so far away.

 

[lynetteSC]

actually dvcreg, chell was probably just wondering if he could sponsor a DIS meet at one of the home games next season! LOL!!! Just kidding!!!! I am sorry I can't answer your tax question. We live in a small city about 20 mins from Charlotte in South Carolina (read --- cheaper property and also lower taxes). I actually work in North Carolina though ... but, we have purchased all our cars here in SC! Good Luck to your son!

 

[gepetto]

charlotte is on the nc/sc border...you may want to figure out which state willl be cheaper before he moves.

 

[hmp2z]

Hi! If your son is looking to move into an apartment, now is a great time! We live in the University area of Charlotte, which is nice, clean, safe, and a generally younger area. Takes us about 15-20 minutes to get into uptown, and 15 minutes to get to Concord Mills (the big mall here) so it's pretty centrally located. Anyway, the apartment market is very soft right now, and places are offering all kinds of deals! You can get an apartment in this area right now for about $550 for a 1 bedroom, $620 for a 1 bedroom with den, and $650-700 for a 2 bedroom. That's really reasonable - when we first moved here in Jan. 2001, we were paying $650 for a 1 bedroom, so rents have really gone down. Due, of course, to the low interest rates that are inciting everyone to buy, buy, buy!
Anyway, if your son is looking at a particular area and wants to know how nice it is, you can feel free to post here, and I'm sure some of us can help you out
Also, if he moves to an apartment in Concord, the personal property taxes are lower in Cabarrus County than they are here in Char/Meck.
Cheers!
Heather W

 

[luvindisneyworld]

I think the sales tax is 6.5% on new cars.i was a a car sales associate last year and that was the tax% last year.I hope this helps.
Misty

 

[chell]

Originally posted by lynetteSC
actually dvcreg, chell was probably just wondering if he could sponsor a DIS meet at one of the home games next season! LOL!!! Just kidding!!!!

If my husband were posting instead of me that would most likely be true. But I can't stand football.

Wishing you the best of luck in getting everything worked out!!!!

 

[Rexfan]

Hey Chell..congratulations to your DS. I just thought I'd tell you (OT, I know) that my DH went to Warren Wilson in the "80's.

edited to add: OK, so I congratulated the wrong person, oops! Sorry..I still think it sounds like a neat job.