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Discussion Starter · #1 ·
The image attached is for a 75 RC SE. They didn't have an SE listed for my 74 SE half door.
 

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it is not just the 70's ones. the 80/90's ones have risen in price also. heck even my elcamino has risen in price since i bought it. i increased the insured value of it last year after the insurance company sent me a letter saying it might be worth more. i guess it is all about supply and demand. more people are wanting them and there isn't as many good condition ones out there as there use to be.
 

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I'll believe this valuation when (3) things happen:

- somebody shows me an RC that a) is in concours condition and b) is something somebody in their right mind has actually paid $43k for. That 2nd one to exclude drunken fools at investor car auctions.

- I see more than a couple sell in the $25-30k range. Have only seen one and that was a full on restomod with G3 hemi and $10k worth of leather interior.

- solid #3 drivers routinely crack the $15k level. Most of the stuff I see above $10k is maggot flipper disasters or very well preserved survivors that linger while waiting for the right buyer.

Values climbing or falling don't impact me personally so generally don't care. Do have a rant about how questimates like this generally hurt the average guy trying to buy something average cool but I'll save that for later. My bottom line position is show me the data that led to the assumptions - if you can.
 

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Agreed, this is just Hagerty trying to milk people for more money.
 

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If somebody hits me on the road, I'll lets his insurance company pay me that amount.  {cruise}
 

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The stupid price of new vehicles drags old trucks up along with.  Muscle cars are so far out of site that old trucks are the only way an average guy can scratch that itch. 
 

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Elwenil said:
Agreed, this is just Hagerty trying to milk people for more money.
i don't know about that. my dodges cost me about $700each/year on insurance for basic coverage where the elcamino cost me $250/year for full coverage with it valued at $13k thru hagerty. yes usually the higher the value the more you pay but it is still usually way more reasonable than paying normal insurance rates.
 

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Thats ok. These will all be worthless when the gas pumps go dry in the near future.
 

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crazzywolfie said:
i don't know about that. my dodges cost me about $700each/year on insurance for basic coverage where the elcamino cost me $250/year for full coverage with it valued at $13k thru hagerty. yes usually the higher the value the more you pay but it is still usually way more reasonable than paying normal insurance rates.
I pay less than $500 a year on my Ramcharger through Geico.
 

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Discussion Starter · #11 ·
What I have noticed is that the 70's trucks are becoming more popular. I've been seeing more and more on the roads. With demand getting higher, prices also rise. Chevy truck prices are getting ridiculous. Dodge prices are climbing. So, get'em while they're cheap now.

Add to that the prices of the new trucks... fuh-getaboutit. Payments are higher than my mortgage!!!
 

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Discussion Starter · #12 ·
Also, after I bought my 77 2WD, the licensing agent wanted to tax me on $13K of value after I paid $2500 but told them I paid $1000, which is what the bill of sale stated. Shhhh... But I was able to whittle that down to about $900 in value. She worked it well to help a guy out with an old truck.  ;D
 

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RCCADMAN said:
Also, after I bought my 77 2WD, the licensing agent wanted to tax me on $13K of value after I paid $2500 but told them I paid $1000, which is what the bill of sale stated. Shhhh... But I was able to whittle that down to about $900 in value. She worked it well to help a guy out with an old truck. ;D
$13k?! How did she arrive at that value?
 

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Discussion Starter · #14 ·
Chilly said:
$13k?! How did she arrive at that value?
That is what the govt books came up with. At the time, the Hagerty value was $13K. (Hmmmm) They probably used the same valuation tools they came up with on our transit car tab tax that is charging some people $800/yr for their tabs on a newer vehicle. I am out of the range of that taxing zone thank God. My daughter bought a new chevy truck. They told her it would be $800 for her tabs. She re-licensed it at my house and now pays $200/yr.
 

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That is why anything over 20 years old needs an appraisal to be transferred into your name here. They won't even Look a at a bill of sale. They only care what is written on the appraisal and you pay tax on the appraised value. Book value doesn't take condition or what it will take to make it roadworthy  again into consideration where an appraisal usually does
 

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Discussion Starter · #16 ·
crazzywolfie said:
That is why anything over 20 years old needs an appraisal to be transferred into your name here. They won't even Look a at a bill of sale. They only care what is written on the appraisal and you pay tax on the appraised value. Book value doesn't take condition or what it will take to make it roadworthy again into consideration where an appraisal usually does
Every bit of that is taxation without representation. If the bill of sale says I paid $1000, then that $1000 is what I pay sales tax on. Otherwise, I am paying tax on money I did not spend. That is unconstitutional. The govt knows that, but they know we won't fight it because we are too broke to hire an army of lawyers.

If I got a screamin' deal on a house, the govt would not charge me sales tax on what the market value is, so why our cars?!?!? If I got screwed on a car deal and paid way too much, would the govt charge me market value? Hell NO! They want more money!
 

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RCCADMAN said:
Every bit of that is taxation without representation. If the bill of sale says I paid $1000, then that $1000 is what I pay sales tax on. Otherwise, I am paying tax on money I did not spend. That is unconstitutional. The govt knows that, but they know we won't fight it because we are too broke to hire an army of lawyers.

If I got a screamin' deal on a house, the govt would not charge me sales tax on what the market value is, so why our cars?!?!? If I got screwed on a car deal and paid way too much, would the govt charge me market value? Hell NO! They want more money!
He's from Canada. They didnt raise a fuss about the chains of British tyranny so those 1776 arguments dont apply.
 

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i think the bigger problem the government has run into is people say they paid $1 or $50-100 for a vehicle when they are actually paying $500+ for the vehicle that may be worth $1000+. the government isn't exactly stupid. lots of people abuse the honor/bill of sale system. it can save you money why not? don't worry. you can still save money with the appraisal system. most appraisal places know the deal and will help you out depending on what you are getting the appraisal for. if you are getting it to buy a vehicle they are pretty willing to nit pick a vehicle and say it is worth less or if it is for insurance they would be willing to be on the high side. heck some places will even write you up an appraisal for whatever you want them to say it is worth. you only have to pay tax on the appraised value. it is definitely an inconvenience to have to get an appraisal before you can transfer a vehicle into your name but i get why it is done.
 

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RCCADMAN said:
If I got a screamin' deal on a house, the govt would not charge me sales tax on what the market value is, so why our cars?!?!? If I got screwed on a car deal and paid way too much, would the govt charge me market value? Hell NO! They want more money!
Maybe not for sales tax, but they will get you with the property tax appraisal. Many places tax you on the book value of the vehicle, along with registration each year.
 

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Discussion Starter · #20 ·
crazzywolfie said:
i think the bigger problem the government has run into is people say they paid $1 or $50-100 for a vehicle when they are actually paying $500+ for the vehicle that may be worth $1000+. the government isn't exactly stupid.
Yes, there is a lot of fraud and abuse. Personally, I don't think you should have to pay taxes on used items. The govt already got their fair share of that initial purchase when it was at it's new price. I don't pay taxes on used furniture or appliances off Craigslist. I didn't pay taxes on my hot tub, or welder, the air compressors, 90% of my woodshop machinery, etc. They only get you when you have to register the item or buy from a retailer like the Goodwill, Pawn Shops, or surplus stores. The govt is just greedy. They should get the tax off an item once, when it's new. And according to the govt, the poor is most affected by it because they normally buy things used and according to the govt, that's racist and unfair! LOL
 
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