93 cobra value at tax office Is ?

jstanley55 · Post by **jstanley55** » Thu Jan 17, 2013 11:53 pm

JohnLynch wrote:
escogt wrote:
trackpilot wrote: I totally 100% agree! It's a scam and i don't agree with it.
Exactly!!! Thank you!!
X3

Anyone know any banks that will finance on these cars? I used to use Navy Federal Credit Union but I spoke with them today and they said since it turned 20 years old 3 weeks ago they have to do it as a collector car loan and the lowest interest rate is...............8.9%

Car insurance goes down as a vehicle gets older...why does the interest rate jump up 6% when it turns 20 years old? wtf

Huh...that's bs. Maybe try Air Force federal credit union. I don't know if they will finance older cars (not many banks do) but I can tell you the rate I got on my wife's pilot was amazing!

WillyB93 · Post by **WillyB93** » Fri Jan 18, 2013 7:00 am

jstanley55 wrote:
JohnLynch wrote:
escogt wrote: Exactly!!! Thank you!!
X3

Anyone know any banks that will finance on these cars? I used to use Navy Federal Credit Union but I spoke with them today and they said since it turned 20 years old 3 weeks ago they have to do it as a collector car loan and the lowest interest rate is...............8.9%

Car insurance goes down as a vehicle gets older...why does the interest rate jump up 6% when it turns 20 years old? wtf
Huh...that's bs. Maybe try Air Force federal credit union. I don't know if they will finance older cars (not many banks do) but I can tell you the rate I got on my wife's pilot was amazing!

\

Most of the banks are looking at risk of the loans alot more then they have before. The best way to actually buy one of these cars if you have home equity refinance or do a second mortgage on your house so you can write off the interest of the loan.

Z282SLO · Post by **Z282SLO** » Fri Jan 18, 2013 8:52 am

WillyB93 wrote: The best way to actually buy one of these cars if you have home equity refinance or do a second mortgage on your house so you can write off the interest of the loan.

Actually, cash is the best way. Your way may be 2nd best.

plumcrazysrt · Post by **plumcrazysrt** » Fri Jan 18, 2013 8:59 am

Z282SLO wrote:
WillyB93 wrote: The best way to actually buy one of these cars if you have home equity refinance or do a second mortgage on your house so you can write off the interest of the loan.
Actually, cash is the best way. Your way may be 2nd best.

The bursting of the housing bubble pretty much sealed the deal on people taking equity loans out.

buddha · Post by **buddha** » Fri Jan 18, 2013 9:46 am

On the multiple tax thing, I hate it as much as the next guy, but the biggest chunk of the tax revenue goes to the public shcools, roads, etc. Every state collects it, they just hit you in other ways, whether it's higher prices at the pump or other means.

tliss · Post by **tliss** » Fri Jan 18, 2013 9:53 am

The way it was explained to me the tax office will tax you a percentage on the sale amount on your paperwork or value of the car (i.e. KBB)...whichever is higher.

Regarding financing, when I looked into it most institutions will not lend more than a percentage of the KBB value of a vehicle. So if a 93 Cobra's KBB value is $2500, they may be willing to lend you a portion of that, but you will not get $15K from a financial institution for one of these cars. I know there are some institutions out there that will finance older vehicles, but if I remember correctly the interest rate was very high. It's all about the amount of risk the institution will take on. Your best bet is cash/personal loan, etc. When I bought mine I borrow against an open credit line.

NV93Cobra · Post by **NV93Cobra** » Fri Jan 18, 2013 12:00 pm

Z282SLO wrote:
WillyB93 wrote: The best way to actually buy one of these cars if you have home equity refinance or do a second mortgage on your house so you can write off the interest of the loan.
Actually, cash is the best way. Your way may be 2nd best.

Like the great Randy Moss once said, "Straight Cash Homey".

Post by **1993cobra** » Fri Jan 18, 2013 12:14 pm

In Texas you can have a licensed dealer give you a appraisal and the tax office will use that value. So... if you have a dealer friend he can appraise your car for 500!

Post by **1993cobra** » Fri Jan 18, 2013 12:18 pm

Or you can say you traded even and its only a 10.00 fee

red95gts · Post by **red95gts** » Fri Jan 18, 2013 4:46 pm

JohnLynch wrote:
escogt wrote:
trackpilot wrote: I totally 100% agree! It's a scam and i don't agree with it.
Exactly!!! Thank you!!
X3

Anyone know any banks that will finance on these cars? I used to use Navy Federal Credit Union but I spoke with them today and they said since it turned 20 years old 3 weeks ago they have to do it as a collector car loan and the lowest interest rate is...............8.9%

Car insurance goes down as a vehicle gets older...why does the interest rate jump up 6% when it turns 20 years old? wtf

Check out PenFed.org I just bought an 03 BMW M3 yesterday and they financed it at 1.49%. According to the rep I talked to on the phone, there was no model year restriction and they would loan up to the NADA "Clean Retail" value. I've been happy with them, but the processing is pretty slow since they are buried with loan applications thanks to the low rate. lol

trackpilot · Post by **trackpilot** » Fri Jan 18, 2013 7:42 pm

red95gts wrote:
JohnLynch wrote:
escogt wrote: Exactly!!! Thank you!!
X3

Anyone know any banks that will finance on these cars? I used to use Navy Federal Credit Union but I spoke with them today and they said since it turned 20 years old 3 weeks ago they have to do it as a collector car loan and the lowest interest rate is...............8.9%

Car insurance goes down as a vehicle gets older...why does the interest rate jump up 6% when it turns 20 years old? wtf
Check out PenFed.org I just bought an 03 BMW M3 yesterday and they financed it at 1.49%. According to the rep I talked to on the phone, there was no model year restriction and they would loan up to the NADA "Clean Retail" value. I've been happy with them, but the processing is pretty slow since they are buried with loan applications thanks to the low rate. lol

Yeah the guy that bought my Porsche used PenFed and told me about it. What a great place if you need an auto loan!

plumcrazysrt · Post by **plumcrazysrt** » Fri Jan 18, 2013 8:33 pm

red95gts wrote:
JohnLynch wrote:
escogt wrote: Exactly!!! Thank you!!
X3

Anyone know any banks that will finance on these cars? I used to use Navy Federal Credit Union but I spoke with them today and they said since it turned 20 years old 3 weeks ago they have to do it as a collector car loan and the lowest interest rate is...............8.9%

Car insurance goes down as a vehicle gets older...why does the interest rate jump up 6% when it turns 20 years old? wtf
Check out PenFed.org I just bought an 03 BMW M3 yesterday and they financed it at 1.49%. According to the rep I talked to on the phone, there was no model year restriction and they would loan up to the NADA "Clean Retail" value. I've been happy with them, but the processing is pretty slow since they are buried with loan applications thanks to the low rate. lol

I financed my Shelby with them.

KeystoneJohnny · Post by **KeystoneJohnny** » Tue Jan 22, 2013 3:40 am

escogt wrote:I'll never understand why a used car gets taxed multiple times. When it was purchased new, sales tax was paid on it's full purchase price. Why must they collect tax on it over & over & over again? I feel once it's been taxed at it's full NEW price... that should be the end of it. NO MORE TAX!!!

EXACTLY!!!!!!!!!!!!!!!

whiteboy · Post by **whiteboy** » Tue Mar 19, 2013 12:23 am

Transfer my cobra today Put i paid $1,800 they said book shows 2,190 lol so i paided like 265 in tax lol

Last time i bought a 03 cobra for 10k and charged me for $15k cost $900 bucks !

escogt · Post by **escogt** » Tue Mar 19, 2013 4:15 pm

whiteboy wrote:Transfer my cobra today Put i paid $1,800 they said book shows 2,190 lol so i paided like 265 in tax lol

Last time i bought a 03 cobra for 10k and charged me for $15k cost $900 bucks !

Those tax collectors are a friggin' JOKE!!

93 cobra value at tax office Is ?

Re: 93 cobra value at tax office Is ?

Re: 93 cobra value at tax office Is ?