NADA will screw you over
Thread Starter
Racer
Joined: Mar 2018
Posts: 399
Likes: 53
From: wilmington Ma
NADA will screw you over
Massachuetts charges sales tax basied on NADA book , I had to pay sales tax on 14k for a 81 vette I pd 4k for , Nada says a low retail is 14k high retail 32k what a bunch of bull you can check ebay or CL most are below 10k .... NADA needs to get real.
Race Director
Joined: Apr 2009
Posts: 19,294
Likes: 2,754
From: Charlotte NC
I am surprised that they do not accept the bill of sale.
It seems to show it in this link. Saying that the ACTUAL AMOUNT PAID FOR THE VEHICLE....or book value.
https://www.mass.gov/guides/guide-to...es-and-use-tax
DUB
It seems to show it in this link. Saying that the ACTUAL AMOUNT PAID FOR THE VEHICLE....or book value.
https://www.mass.gov/guides/guide-to...es-and-use-tax
DUB
Thread Starter
Racer
Joined: Mar 2018
Posts: 399
Likes: 53
From: wilmington Ma
I am surprised that they do not accept the bill of sale.
It seems to show it in this link. Saying that the ACTUAL AMOUNT PAID FOR THE VEHICLE....or book value.
https://www.mass.gov/guides/guide-to...es-and-use-tax
DUB
It seems to show it in this link. Saying that the ACTUAL AMOUNT PAID FOR THE VEHICLE....or book value.
https://www.mass.gov/guides/guide-to...es-and-use-tax
DUB
its defintly on NADA with the stupidly high price estimates but not taking the condition in to account by the tax dept is so wrong ... The guy I was talking to said well this is a classic car I mentioned the biggest peices of junks ever made were in the 80's dont assume the cars are in good condition most have more issues than not till someone puts a ton of money in one ..... then he was oh ya lol he did not agree with the law but just works there.
Safety Car
Joined: Sep 2013
Posts: 4,355
Likes: 2,633
From: Draper Utah
I thought you were full of male bovine excrement so I looked it up... nope, you are correct it's the greater of the two values. You guys in Massachusetts are getting hosed as we in Utah get to pay the lesser of the two values.
Massachusetts vehicle sales tax
https://www.mass.gov/guides/guide-to...es-and-use-tax
Massachusetts vehicle sales tax
https://www.mass.gov/guides/guide-to...es-and-use-tax
Burning Brakes
Joined: Jan 2010
Posts: 884
Likes: 84
From: New Boston, NH
Actually, I think it is Massachusetts that needs to get real. States like that never miss an opportunity though to suck every penny possible out of your pockets, and from under your couch cushions. I live in Maryland, I know from experience, but even this state only taxes on sales price.
Burning Brakes
Joined: Jan 2007
Posts: 968
Likes: 122
From: Lighthouse Point FL
I love NADA. It says my ‘69 is worth $63K average, $82K high. Woohoo! Soon as it gets out of the shop, it’s up for sale!
BTW, you all know why the State does this. People do a bill of sale for some fictitious amount to reduce their tax.
Come On, Man. If nobody cheated, they wouldn’t have to do this. Some bad apples ruin it for everyone. Although I’m sure there are a few here who see nothing wrong with cheating the State out of tax revenue...
BTW, you all know why the State does this. People do a bill of sale for some fictitious amount to reduce their tax.
Come On, Man. If nobody cheated, they wouldn’t have to do this. Some bad apples ruin it for everyone. Although I’m sure there are a few here who see nothing wrong with cheating the State out of tax revenue...
Last edited by maj75; Jul 30, 2018 at 08:09 PM.
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Melting Slicks
Joined: Dec 2016
Posts: 3,193
Likes: 184
From: Central Bucks County, Pennsylvania
I’ve been down this road with MA and their tax for my son when he was in school there. On the paperwork, the condition you or the clerk enter is matched to the same or close to condition as the NADA lists. It’s perfectly legal to purchase a car in poor condition and in need of mechanical repairs and you still need to register the car in MA.
2026 Loser of the Year
Joined: Sep 2013
Posts: 36,607
Likes: 7,053
From: New Or-leens Loo-z-anna
I love NADA. It says my ‘69 is worth $63K average, $82K high. Woohoo! Soon as it gets out of the shop, it’s up for sale!
BTW, you all know why the State does this. People do a bill of sale for some fictitious amount to reduce their tax.
Come On, Man. If nobody cheated, they wouldn’t have to do this. Some bad apples ruin it for everyone. Although I’m sure there are a few here who see nothing wrong with cheating the State out of tax revenue...
BTW, you all know why the State does this. People do a bill of sale for some fictitious amount to reduce their tax.
Come On, Man. If nobody cheated, they wouldn’t have to do this. Some bad apples ruin it for everyone. Although I’m sure there are a few here who see nothing wrong with cheating the State out of tax revenue...
Administrator
Joined: Jul 2000
Posts: 53,996
Likes: 6,213
From: About 1100 miles from where I call home.
I love NADA. It says my ‘69 is worth $63K average, $82K high. Woohoo! Soon as it gets out of the shop, it’s up for sale!
BTW, you all know why the State does this. People do a bill of sale for some fictitious amount to reduce their tax.
Come On, Man. If nobody cheated, they wouldn’t have to do this. Some bad apples ruin it for everyone. Although I’m sure there are a few here who see nothing wrong with cheating the State out of tax revenue...
BTW, you all know why the State does this. People do a bill of sale for some fictitious amount to reduce their tax.
Come On, Man. If nobody cheated, they wouldn’t have to do this. Some bad apples ruin it for everyone. Although I’m sure there are a few here who see nothing wrong with cheating the State out of tax revenue...
Exactly. And NADA has always been delusional on pricing. I used to hate when a seller would start a sentence with, “well, NADA says...”. That’s almost as bad as when they say, “welll, at Barrett-Jackson...”
Too bad MA uses NADA, though.
Melting Slicks
Joined: Dec 2016
Posts: 3,193
Likes: 184
From: Central Bucks County, Pennsylvania
A better question is - Why does the states use NADA guides? A MA State Representative that helped my son told us the NADA is used Because valuations are on average 15% higher than other similar publications.
Melting Slicks
Joined: Mar 2006
Posts: 3,456
Likes: 102
From: Piedmont Va
St. Jude Donor '11-'12-'13,'19-'20
Most insurance companies use NADA to value total losses. Thats why I keep my pristine 73 Coupe on my standard USAA policy with my other vehicles. If it's totaled the NADA value will be way more than any Classic Car Insurance will pay for it!
Safety Car
Joined: Sep 2013
Posts: 4,355
Likes: 2,633
From: Draper Utah
I'm guessing most classic cars have an agreed value policy and then NADA or anyone else's opinion on the value if totalled is meaningless. If you don't know what an agreed value policy is you should learn and then get one.
Team Owner
Joined: Jun 2001
Posts: 23,381
Likes: 1,067
From: Virginia USA
What I find funny is two guys talking about high taxes, one from Massachusetts and the other from Maryland. Liberal cesspools both of them A liberal never met a tax they didn't like. Don't like it there are two things you can do:
1. Move
2. Stop electing liberal socialists
1. Move
2. Stop electing liberal socialists
Just another Corvette guy
Joined: Feb 1999
Posts: 8,518
Likes: 3,865
From: Palm Springs, CA.
NADA isn't screwing you over. They are just a bunch of bungling idiots that nobody in the real car world takes seriously. Your state is screwing you over by using this nonsensical estimating rag as it's guide.
I think you'd be hard pressed to find an insurance company that that would pay out $14-$32K for any '81 Corvette in the event it was wrecked.
If they will pay out that amount, I'd start looking for the nearest telephone pole.
NADA is a.....joke, to say the least.
Last edited by Greg; Jul 30, 2018 at 11:33 PM.
Just another Corvette guy
Joined: Feb 1999
Posts: 8,518
Likes: 3,865
From: Palm Springs, CA.
The GIANT elephant in the room here that everyone seems to miss is why in the world do states charge tax on USED cars in the first place?
You can sell your sofa 100 times and your state does not get involved. Cars and what they sell for should be between the two selling parties only. The state's involvement should end at licensing and registering those vehicles.
They are privately owned, just like your sofa. They are not government issued pieces of chattel. They are not fee simple real estate.
I'm surprised that in a state as jammed full of lawyers as Massachusetts is, (some of them must collect classic cars) that some have not gotten together to quash this type of unrealistic taxation.
You can sell your sofa 100 times and your state does not get involved. Cars and what they sell for should be between the two selling parties only. The state's involvement should end at licensing and registering those vehicles.
They are privately owned, just like your sofa. They are not government issued pieces of chattel. They are not fee simple real estate.
I'm surprised that in a state as jammed full of lawyers as Massachusetts is, (some of them must collect classic cars) that some have not gotten together to quash this type of unrealistic taxation.
Burning Brakes
Joined: May 2018
Posts: 797
Likes: 156
From: England AR
Same for mine, and the nice thing with Hagerty's over all the others, we get to keep the car even if it's wreaked plus the check, no headache, no hassle just a check for the insured amount. Yeah, it's more than the other guys, but worth it.
Last edited by naramlee; Jul 30, 2018 at 11:53 PM.