I understand that Texas is charging a flat rate for tax purposes depending on year and model of car not claimed value. Is this true and if so is there a site that has that information ? I've searched. IE plug in your year and model and get value thus tax amount. Wondering if they have something for older Ferraris etc. Or can you register a Mclaren F1 as a kit car ?
When I brought in the Ferrari 8 years ago, the lady at the tax office simply asked me what I paid for the car. She was floored that a 14 year old Ferrari was still worth $17k. Haven't heard of this new rule, good luck. You could always just go by the tax office and ask a hypothetical question? The one by my house is dead most of the time. I can get in and out in about 3 minutes. EDIT: 3 minutes of searching found this: Texans who purchase used motor vehicles, including cars, trucks and motorcycles, from anyone other than a licensed dealer will owe tax of 6.25% on the highest amount of: the standard presumptive value; or the sales price; or a certified appraisal amount. http://www.dmv.tx.gov/vehicles/titles/std_presumptive_value.htm Type in the vin and the mileage, you have your answer it appears.
This is more complex than you expect. Don't be surprised that a Ferrari doesn't show up. They are basically cross-referencing Kelly Blue or something similar. I went to register a car that I had bought sometime before from out of state. In order to register an out of state vehicle, you have to have a current inspection in the state of Texas, problem was car wasn't running to get state inspection. Once we got it running, the registration process consisted of an state certified appraiser that had to place value on the car because too much time had elapsed. That valuation was the basis of the tax rate. A bill of sale is required with the title transfer. You have a small # of days to transfer title (I think it is 20 days). If the date of registration is past that # of days, the appraisal is required. If you don't have a bill of sale, the appraisal is needed too. Expect for a car that doesn't show up will require an appraisal or an affidavit of purchase price signed in the time frame of title transfer.
I punched in my VIN and it also came back with $0.00. I guess it's time to start a new thread: "Exotic car market is tanking. Ferrari 360 spider values drop to $0 "