toedtoes wrote:
Book value is not what the registration is based on, it's how much you paid for the vehicle - .
Not quite.
DMV is not charity >>> they work for the money.
Few years ago I got classic 1969 Ford LTD from my neighbour. She put $1 selling price on old believe that things given free are not appreciated.
DMV clerk (she look Philipino talking with strong accent) did not like the low base price and nagged me for about 20 minutes what was wrong with the car, how much I paid for the repairs and putting it back on the road.
Since I DIY, I said I spend $150 for new fuel pump and starter.
So she put base value at $151.
That makes 15,000 % more than purchase price.