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Cost of registration in CA for 75K F-car(or any other car)??

Discussion in 'Ferrari Discussion (not model specific)' started by kimoSabe, Mar 29, 2005.

  1. kimoSabe

    kimoSabe Karting

    Dec 7, 2003
    191
    No CA
    Full Name:
    Ray C.
    With all this talk about financing and purchasing, I decide it would be wise for me personally to wait & pay for my "toy" all up front. Is the initial registration fee and yearly fees the same if you finance or not? How much would CA DMV reg fees be if I bought a 75K Ferrari today. About what would my yearly fees be? Since the most I ever paid for a car was 25K, this was something that I wasn't really thinking about. But my dream is getting closer to reality. TIA
     
  2. sad11

    sad11 Karting

    Jun 25, 2004
    119
    First year DMV fees are going to be around 1% of the cost of the vehicle.

    -Armen
     
  3. dwhite

    dwhite F1 Rookie

    What about the Tax on the purchase? No sales Tax in Ca. ? If not, wow that is cheap compared to NY where you get boinked for sales tax of 8.25 % + registration fees.
     
  4. speedball

    speedball Formula Junior

    Mar 29, 2004
    268
    Pasadena Area
    Full Name:
    Scot Anderson
    I just renewed California registration on my 2000, 550. It was right around $ 850/yr.

    So the post above is perhaps a bit high since my 550 is worth about $ 130,000 today ... it's costing me a little over 1/2 % of current value to register .... but I do believe the rate is based on MSRP when the car was new ... so the precentage would actually be less since a new 550 sold for about $ 220,000 new.

    One other big consideration in California is sales tax ..... here in LA it's 8 1/4 %. I paid about $ 11,000 in sales tax when I bought the car "used".
     
  5. Gman

    Gman Formula Junior
    Rossa Subscribed

    Jul 15, 2003
    747
    York, PA
    What is the deal with CA and this high registration fee? Here in PA we pay $36 dollars for the tag which is good for 1 year. We have a yearly inspection/emission test that will cost you about $50. That is it for car fees.

    Is this "registration fee" in place of a state income tax and is part of a properity tax system that replaces income tax? If not and the state is highjacking you for this type of money, then I feel sorry for all of the citizens of CA.
     
  6. yelcab

    yelcab F1 Veteran
    Consultant

    Nov 29, 2001
    9,236
    San Carlos, CA
    Full Name:
    Mitchell Le
    YOu think it is high now? It was twice as high before the Governator came into office. We pay the high road tax in addition to our income tax because of the nice weather. We get to drive more often.
     
  7. Gman

    Gman Formula Junior
    Rossa Subscribed

    Jul 15, 2003
    747
    York, PA
    You get to drive more often but that is the reason behind a gas tax! Un-f***ing believable. Does this high reg fee go down over the years as the car value depreciates? What is your state income taxes out there? Ours is around 3.2% with a 6% sales tax on everything except gas (already in price), food, cloths and medical. Guess it is good to live in a state that only has nice weather 8 or 9 months out of the year!
     
  8. El Wayne

    El Wayne Global Moderator
    Global Moderator Owner

    Aug 1, 2002
    17,953
    San Marino, CA
    Full Name:
    L. Wayne Ausbrooks
    The cost of license fees on a used non-commercial vehicle priced at $75,000 is currently $563.
     
  9. kimoSabe

    kimoSabe Karting

    Dec 7, 2003
    191
    No CA
    Full Name:
    Ray C.


    This is what I'm most afraid of. Thanks for all the input.
     
  10. 1975gt4don

    1975gt4don Formula Junior

    Nov 5, 2003
    662
    Peoples Rep of CA
    Full Name:
    Smog Exempt
    The Peoples Republic of California where everything is taxed higher than everyone else. I pay $145 per year for registration on the GT4 but I am smog exempt. If Gray Davis were still around, I would be paying around $500 per year.
     
  11. JERRYZ

    JERRYZ Formula Junior

    Sep 1, 2004
    576
    Orange County, CA
    We have HUGE tax problems but unfortunately the dems in power (the state legislators) are too set in their ways and love the power they wield to ever let things change. So I choose to look at it as the sunshine tax. We have the best weather in the world and get to play year-round. You gotta pay to play. But that's not the worst of it. Housing costs here are worse than anywhere outside of NY city and SF. Average home price is approaching $550k.

    So the big questions is "Is it worth it?".......without a doubt, ABSOLUTELY! I grew up in the midwest. I could sell my home here and pay cash for a mansion in my hometown. But I'd be back there dreaming about living here. So I suck it up, pay the sunshine tax, and enjoy California.
     
  12. Ken

    Ken F1 World Champ

    Oct 19, 2001
    16,078
    Arlington Heights IL
    Full Name:
    Kenneth
    In IL new plates, registration, fees and taxes when I bought my Lotus used was $285 total. None was based on the value of the car. Now I have an antique plate which runs about $55 for 5 years as opposed to the $78 per year normal plate renewal. BTW, emissions is free if you need it; test is every 2 years.

    Not too shabby compared to Kalifornia!

    Ken
     
  13. JERRYZ

    JERRYZ Formula Junior

    Sep 1, 2004
    576
    Orange County, CA
    Glad you get a good deal on taxes.......But what's the weather like there today?

    I've golfed 3 times in the last week, the top is down on my 355 Spider and the girls are wearing bikini's on the beach!
     
  14. Ken

    Ken F1 World Champ

    Oct 19, 2001
    16,078
    Arlington Heights IL
    Full Name:
    Kenneth
    Low 60's and hazy sun; we'll be a high of 42 tomorrow but 70's next week.

    For bikinis this time of year we surf the net for porn.

    Bitter? DO I SOUND BITTER??? ;>)


    Ken
     
  15. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    No sunshine required ;)
     
  16. Vibrant_5oh

    Vibrant_5oh Karting

    Apr 18, 2004
    196
    Minneapolis, MN
    Lol. Just for kicks, i browsed the San Diego MLS for houses in La Jolla awhile back dreaming about how much i missed SD and wondering what the hell made me move to the midwest and was surpriused.

    I saw a couple of houses that wouldn't even hit 150k here in the midwest going for 1+ mill. One stuck out the most, and was barely 800sq ft. It wasn't even in that great a shape either but it was closing in on 1.5-2mill i believe. I could not believe my eyes. I saw other that weren't that great going for 2+mill too. Granted 99.99% of La Jolla's homes are much nicer than these specific houses, all were grossly overpriced too when you compared them to a comparable home in the midwest.

    But the sunshine/weather makes it all worthwhile. I've lived in MN for 7 years now (San Diego for 10), and will probably never get used to the unpredictable weather here in Minneapolis. Rediculous housing costs or not, i plan on moving back to San Diego once i'm done with schooling here.
     
  17. Rifledriver

    Rifledriver Two Time F1 World Champ

    Apr 29, 2004
    25,491
    Austin TX
    Full Name:
    Brian Crall
    Our fees are high but to mitigate it we do not pay property tax on them. Also the fees do go down with time. The rate the fees go down has been changed back and forth a few times though. All up costs are not bad compared to some places though, one brother moved to South Carolina, Reg fees went down to almost nothing but the property taxes he paid on all his toys drove the price so high that he left several registered here to save money. My other brother moved to Maine. The fees were much higher and they do not ever change. Registration on his old Benz is based on it's selling price new and does not go down.
     
  18. 2000YELLOW360

    2000YELLOW360 F1 World Champ
    Owner Consultant

    Jun 5, 2001
    19,732
    Full Name:
    Art
    It's expensive out here because everyone wants to live here. Supply and demand. Very simple. You can get a huge house in Texas, Illinois, etc. for what you'd pay for a shack here. Problem is, you have to live there!!!!!

    There are various ways to legally avoid the sales tax, but you have to be very careful about exercising those rights, and make sure that you've followed the statute to the letter. You used to be able to take delivery in a different state, keep the car out of California for 90 days, while using it in the other state (and having proof of same), and then import the car. However, that has been changed, and now there is a 1 year requirement (This went into effect about 1, 2 months ago). That means that you'd have to keep the car out of California for 1 year to avoid the tax. At 75k for the car, I suspect you won't want to do that. You'd have to read the specific statute to get all of the requirements.

    At any rate, have fun with the new car if you get it.

    Art
     
  19. Willis360

    Willis360 F1 Rookie

    Aug 4, 2001
    3,928
    Redmond, WA
    Full Name:
    Willis H
    Be happy that you're not living within the city of Seattle. 1.4% of your car's value for license tabs to pay for a monorail system. Assessing value of your car is tricky as some people have found they're paying over 2.5% (lawsuits pending).
     
  20. PeterS

    PeterS Three Time F1 World Champ
    Silver Subscribed

    Jan 24, 2003
    35,654
    95370
    Full Name:
    PeterS
    I got a Historic Plate from the DMV. $36 a year..Done!
     

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