Taxes on trucks

[Tom523]

The missus went to register my stepdaughter's car today. While she was there she was told that taxes are going up for SUV's and trucks. She said one guy said his registration went up 60$. Didn't Obama say he wasn't gonna raise taxes?

[Olgrey]

As much as I regret giving Obama credit for anything, he did not raise your state taxes on your autos. That would have been done by our favorite govenor and legislators.

[MsgMills]

As much as I regret giving Obama credit for anything, he did not raise your state taxes on your autos. That would have been done by our favorite govenor and legislators.

No but wait the original reason the taxes went up was all due to the Cash for Clunker's program.... Which the Potus initiated and got passed thru to help the population buy new vehicles.

The used car market was dried up and since their were not as many used vehicles on the roads...The State's had to raise the value of all tehnwere and older vehicles still around...Hence the raise in the cost of your vehicle registrations to get more money flowing back into the States budget accounts...

SO YES IT WAS OBAMA"S FAULT........

[Dave Stewart]

Now I am certainly not an Obama fan...but the Cash for Clunkers program as I understood it meant you got bucks for trading in your old vehicle for a new one...so tax had to be paid on all the new vehicles...which are now old used vehicles...and those vehicles are worth more than the ones traded in so the tax base should have gone up...but then again math was never my strong suit, but common sense has been.

By the way, I have not seen any lack of used vehicles on any of the lots down in this area....nor guys in plaid suits on tv yelling at us to come buy them....LOL

[Tim_T]

Now I am certainly not an Obama fan...but the Cash for Clunkers program as I understood it meant you got bucks for trading in your old vehicle for a new one...so tax had to be paid on all the new vehicles...which are now old used vehicles...and those vehicles are worth more than the ones traded in so the tax base should have gone up...but then again math was never my strong suit, but common sense has been.

By the way, I have not seen any lack of used vehicles on any of the lots down in this area....nor guys in plaid suits on tv yelling at us to come buy them....LOL

Dave, stop with all the facts and common sense, you are killing our thoughts.....plus it makes Clyde's head hurt, he is a Hoosier fan after all.

[Chubminnow]

I have not seen any lack of used vehicles on any of the lots down in this area....nor guys in plaid suits on tv yelling at us to come buy them....LOL

There might not be a lack of used vehicles, but the costs for the one's out there have shot sky high since the Cash for (cough, cough, choke, blah) Clunkers (COUGH!) program.

"Cash for Clunkers"...this term will never be forgotten....none of us will be around to see it but I foresee elementary students being taught history lessons about this program in the year 2096!

"Cash for Clunkers", I can't help but laugh and shake my head in disbelief when I hear the phrase.

[HURRICANEBOB]

Now I am certainly not an Obama fan...but the Cash for Clunkers program as I understood it meant you got bucks for trading in your old vehicle for a new one...so tax had to be paid on all the new vehicles...which are now old used vehicles...and those vehicles are worth more than the ones traded in so the tax base should have gone up...but then again math was never my strong suit, but common sense has been.

By the way, I have not seen any lack of used vehicles on any of the lots down in this area....nor guys in plaid suits on tv yelling at us to come buy them....LOL

To cover the taxable gain, most dealers took the incentive money and added it to the trade-in vehicles value. That way the dealer shows more sunk cost, and less taxable gain, but the amount reported to Nada becomes artificially higher. And that benefits the dealers again, because they now get to sell that clunker and get more money ouf of it, as they negotiate and show you the Nada book.

My cash for clunker deal: I took my clunker, put some cash in it to fix it up, and told the dealer to go get a job at Walmart to make up the difference

[RoadToad]

To cover the taxable gain, most dealers took the incentive money and added it to the trade-in vehicles value. That way the dealer shows more sunk cost, and less taxable gain, but the amount reported to Nada becomes artificially higher. And that benefits the dealers again, because they now get to sell that clunker and get more money ouf of it, as they negotiate and show you the Nada book.

I thought under the Cash for Clunkers program, the clunkers traded in had to be destroyed, and couldn't be re-sold?

[kydonky]

I had the same issue when I got my tags renewed. The tax was more this year than last year. The "county clerk" (not Obama administration) explained that the taxes were based on NADA wholesale value and that the book value of my truck had gone up.

I bought my new truck durring the period that gas hit $4.75 a gallon. SUVs and trucks were not selling then and prices were being slashed. Everyone was selling their gas guzzlers. As I needed a truck I though it was a good time to buy. Boy was I ever right!!!! I bought my truck for 1/2 its current book value. Once gas prices stabalized the price of trucks has steadily increased.

Not that I am out of the woods. Gas prices may very well go back up to $5.00 and then my truck will probably be worth what I paid for it.

For some reason my wife's Ford Focus just won't pull my tandem axle farm trailer with the tractor on it up my drive and a round bale of hay makes the back seat crowded. Do you think new plugs would help??

[Chubminnow]

I thought under the Cash for Clunkers program, the clunkers traded in had to be destroyed, and couldn't be re-sold?

That's what I remember too...something they filled the engine blocks with (cement?) to make them permanently disfunctional, then they wrote "Clunker" across the windshield or something...and from there I assumed each "clunker" was sold for scrap, the ENTIRE vehicle was sold for scrap, none of it being salvaged. This is how I remember it.

What a waste!

[Dave Stewart]

I had the same issue when I got my tags renewed. The tax was more this year than last year. The "county clerk" (not Obama administration) explained that the taxes were based on NADA wholesale value and that the book value of my truck had gone up.

I bought my new truck durring the period that gas hit $4.75 a gallon. SUVs and trucks were not selling then and prices were being slashed. Everyone was selling their gas guzzlers. As I needed a truck I though it was a good time to buy. Boy was I ever right!!!! I bought my truck for 1/2 its current book value. Once gas prices stabalized the price of trucks has steadily increased.

Not that I am out of the woods. Gas prices may very well go back up to $5.00 and then my truck will probably be worth what I paid for it.

For some reason my wife's Ford Focus just won't pull my tandem axle farm trailer with the tractor on it up my drive and a round bale of hay makes the back seat crowded. Do you think new plugs would help??

Did the same as you...bought my new truck when they could not give them away...knew then that I would eventually be paying more taxes when the prices went back up..which I did also this year...but seeing as how I saved about 15,000 by buying it when I did, I can't complain too much. Still have my old truck...will drive it until the wheels fall off..LOL

[HURRICANEBOB]

I thought under the Cash for Clunkers program, the clunkers traded in had to be destroyed, and couldn't be re-sold?

You're right! But the Nada data input sitll showed that year, make and model ar drove a higher than expected trade-in value. so while that vehicle by VIN was trashed, those still out there saw an aritificially induced increase in expected market value based on trade in data history. Which meant that if a dealer had one in stock not traded in under the program, he just increased its "apparent" value.