[Z06] The cost of owning your z
03-24-2013, 01:46 PM
#42
Team Owner
03-24-2013, 01:52 PM
#43
Team Owner
I live in Illinois.
I purchased mine used privately @ a flat rate of $1500 based on the year of the vehicle.
If I did not use a title company (had to with Bank Of America) one could lie and say the car is worth less than 15k. If one was to do that in Illinois you would have a substantial savings where taxes would be <$200.
If I would have done a dealer purchase it would have been 7.25% based on DuPage County Sales Tax or slightly over $3k. Cook County would be higher.
I purchased mine used privately @ a flat rate of $1500 based on the year of the vehicle.
If I did not use a title company (had to with Bank Of America) one could lie and say the car is worth less than 15k. If one was to do that in Illinois you would have a substantial savings where taxes would be <$200.
If I would have done a dealer purchase it would have been 7.25% based on DuPage County Sales Tax or slightly over $3k. Cook County would be higher.
Title company on a car?
Poor Illinois!
03-24-2013, 05:35 PM
#44
Melting Slicks
What a bunch of nancy complainers. You guys have no idea what taxes are!
Wait til one of my Canadian cousins chimes in here.
Starting with:
13% HST
47% marginal income tax rate over $70k per year
Plates at $86/ yr.....that's ok
Insurance. $1200/ yr if you are an old fart.
Gas at $1.30 per liter or approx $5.00 per gallon.
Oh yeah but I had a triple bypass and it didn't cost me "anything"
Wait til one of my Canadian cousins chimes in here.
Starting with:
13% HST
47% marginal income tax rate over $70k per year
Plates at $86/ yr.....that's ok
Insurance. $1200/ yr if you are an old fart.
Gas at $1.30 per liter or approx $5.00 per gallon.
Oh yeah but I had a triple bypass and it didn't cost me "anything"
03-25-2013, 10:47 AM
#45
Intermediate
Member Since: Dec 2008
Location: Vancouver BC
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12% tax on every vehicle sold, new or used, goes to our fat government in BC. My insurance is at the best rate you can get (no accidents, claims), and if I cut it back to the bare minimum, I could insure my Z for $1200/year (this province doesn't allow private insurance for basic coverage). I like this country, but the taxes are a joke.
03-25-2013, 03:48 PM
#46
Melting Slicks
In MN, tax on any car bought is 6.725. It's rediculous.
Trade in towards a new car, you pay the tax only on the difference of the two.
On top if that, there is a fee/tax for getting new registration tabs yearly, where you pay 1% of the Msrp of the vehicle. As ever year progress and the car gets older, they deduct 10% of that 1% of Msrp.
So lets take a zr1, 100k brand new.
6,725 in purchase tax
1000 in tabs tax
Following yr when registering tabs, you pay 900, etc for yrs forward.
Utterly rediculous...
Trade in towards a new car, you pay the tax only on the difference of the two.
On top if that, there is a fee/tax for getting new registration tabs yearly, where you pay 1% of the Msrp of the vehicle. As ever year progress and the car gets older, they deduct 10% of that 1% of Msrp.
So lets take a zr1, 100k brand new.
6,725 in purchase tax
1000 in tabs tax
Following yr when registering tabs, you pay 900, etc for yrs forward.
Utterly rediculous...
I got my Z06 back in 2006 before they changed how they calculated the yearly registration fees and am grandfathered in, so I only pay $99 per year.
Last edited by dmuellenberg; 03-25-2013 at 03:52 PM.