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Old 04-24-2015, 11:15 AM
 
7 posts, read 12,419 times
Reputation: 11

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Quote:
Originally Posted by Ponderosa View Post
Yup. 2.89 is lower than I thought it was. In any case, 10 year old cars don't cost much. Ask me how I know. haha. You'll have to pay another 25 or so for an emissions test. You will pass unless your car is showing or recently had check engine lights because that is all they check for.
Thats fine. I just wanted to make sure I wasnt bleeding money on all of this. The other car I am looking at would have either been $1700 on top of sales tax or $138.

The sales tax was another thing I was confused about. People were telling me that there was no sales tax on private party sales. I did some digging and found that wasnt quite true. You do have to pay sales tax if you didnt in another state or they will hit you with a USE tax.
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Old 04-24-2015, 01:26 PM
 
7 posts, read 12,419 times
Reputation: 11
For future folk who might be searching this. I confirmed it though AZ. It is definitely based on the first year that the car is registered in any state.
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Old 04-24-2015, 11:18 PM
 
545 posts, read 1,479,095 times
Reputation: 832
Quote:
Originally Posted by su_maverick View Post
Thank you for the detailed help.

So, what I am getting at would be the following.

Initial Base MSRP - $40k (for sanity sake of doing the math)
VLT MSRP Modifier - 60%
Modified MSRP - $24k

Compounded 16.25% reduction per year since first registration of the car.

This would say that the car would be valued at around 3500 right now for tax purposes. At the VLT rate of 2.89 per $100, it would then be $98 in taxes.

Does this math seem right?
This is about right. I just registered a 2004 BMW 325i with a base MSRP of $28500, and it was $82 for the title and license. Keep in mind that it's based on the base MSRP only. For example, I know my car has about $6k of options (MSRP), but they're not factored into the VLT calculation. Current value doesn't matter. I believe the OPs Lexus was in the low 30s when new, so ~$100 is probably about right - if not a little high.
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