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Off Topic Off Topic - General non-Corvette related discussion. |
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08-21-2012, 1:56pm | #1 | ||||||
Barn Raising III
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Wife is due for a new car but wants to wait(GA Ad Velorem tax)..
In GA we have an ad velorem tax. Think of it as an annual property tax on your car that is a present you get to give the state every year the month of your birthday. Anyway its finally going away in March of 2013. Basically if you buy a new or used car from a stealership after Marchwhateverthefukdayitis all you pay is your counties one time sales tax and thats it. No more annual ad velorem tax. To put this in perspective my G8 runs me like $270 a year and as the car depreciates the tax amount goes down. Now if you buy before Marchwhateverthefukdayitis from a dealer you get stuck with the sales tax from your county and the annual ad velorem tax until you sell the car. As a result March and April are gonna be a big month for dealer sales in GA due to people holding off on buying. BTW no sales tax on used private party sales, just ad velorem. I always buy year or two old cars and am willing to travel to get them becasue of this private party savings.
ANYWAY... Now that i edumucated all you guys heres the deal. My wifes car is 5 years old (we have had it for 3) and pushing 90k. She wants a new car and is due for a new car but her logic is to hold off until Marchwhateverthefukdayitis so she doesn't have to pay the ad velorem moving forward for the next 3 or 4 years she has her next car. I get it. It makes sense. What she doesn't get is that her car needs tires now ($900), needs a module thats associated with the AHS ($500), and probably will need pads too before Marchwhateverthefukdayitis ($150). That's $1,500-$1,600 worth of shit inside of the next 6 months provided nothing else comes up that her car will need. Now guess how much the ad velorem tax is on What she would replace her car with. $250-$300 a year which will go down every year as it depreciates.. So on the high end of $300 a year over 3 years it will be $900 versus $1,600. But, she still wants to wait.. |
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08-21-2012, 1:56pm | #2 | ||||||
Barn Raising III
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BTW here's a cool site i came across GA people.. https://etax.dor.ga.gov/advalorem/default.aspx
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08-21-2012, 2:00pm | #3 | ||||||
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Another thought is, if sales in GA will be as high as you say they will be in March and April. You could probably save another $1k or more on the vehicle she wants now, vs. next year.
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08-21-2012, 2:01pm | #4 |
Explosive Salami
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I got hit with that in 2006/2007 and I wasn't even a damn resident. Military sued the tax office and the person in charge big time over that.
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08-21-2012, 2:02pm | #5 | |||||||
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That doesn't make any sense. What part about spending a minimum of $700 extra does she not understand? |
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08-21-2012, 2:03pm | #6 | |||||||
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08-21-2012, 2:04pm | #7 | ||||||
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We wouldn't be affected by any influx in dealer sales as we would be buying private party.
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08-21-2012, 2:05pm | #8 | ||||||
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08-21-2012, 2:06pm | #9 | |||||||
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But also, if you do those repairs, will you be able to get more money for the car in 6 months? You might be able to break even. |
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08-21-2012, 2:06pm | #10 | ||||||
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08-21-2012, 2:07pm | #11 |
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Yeah, but then he gets screwed paying the ad velorem tax until he sells the car. After 4 years or so he could be potentially paying more int taxes than he saved.
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08-21-2012, 2:10pm | #12 | |||||||
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She wants to put $1,500 in repairs on her existing car, just to drive it until March when she get get a new car, to save $1,000 in taxes. But if there's a chance you can get an extra $500+ out of the sale of her existing car, because of the new tires/no check engine light. Then maybe, just maybe she might have a point. Especially if car prices goes up for a few months, as everybody has held off buying for a few months, everybody will buy all at once. |
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08-21-2012, 2:11pm | #13 | ||||||
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Thanks Mark,I didn't know that Ad Velorem tax was going away,wonder what will take it's place,they don't give up easy when repealing taxes.
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08-21-2012, 2:13pm | #14 | |||||||
Barn Raising III
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I might do a powerpoint presesntation for her with the help of my kids.. |
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08-21-2012, 2:20pm | #15 | ||||||
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08-21-2012, 2:22pm | #16 | |||||||
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NEW INFO: Sales tax AND ad valorem tax on vehicles in Georgia being replaced by "title tax" | 11alive.com Not that i just saw that it seems like their will be a tax on the blue book value of used cars now after Marchwhateverthefukdayitis. All the more reason to buy now in my opinoin.. Looks like dealers have finally leveled the playing field against private party sales.. That sux. Last edited by ...Whitepower...; 08-21-2012 at 2:46pm. |
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08-21-2012, 4:07pm | #17 | |||||||
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I vote for wait until the tax thingie goes away, although I bet the price of used cars will spike for a few months. This is bad on the buying end, but will be good on the selling end. |
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08-21-2012, 4:27pm | #18 | ||||||
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TWO questions...WTF is about 4 tires running 900 bux?? what you buying??
120 bux/wheel out the door is your price....all else is a rip off.... 500 bux for some module?? what module, those call out letter/number mean nothing, what it DO?? 90k is nothing, drive it a easy 250k miles..... |
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08-21-2012, 4:29pm | #19 | ||||||
Barn Raising III
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Tires are far from bald but it will need em soon.
And i cleared the CEL. |
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08-21-2012, 4:34pm | #20 | |||||||
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