Time to renew registration, $$$ ouch!
Just got the bill to renew the registration on my 06 F-150, $175 ouch! Seems high for a 7 year old truck but guess I just forgot the amount from last year. Got me to thinking, since most of the regi...
Forum Discussion
We pay 6% tax plus registartion/tag fee at purchase and then it drops to about 1% of book value plus registartion/tag fee each year.
Buying/owning a nice 10 year old version of a $65K vehicle for $15K leaves a lot of cash for vehicle repairs just from saved taxes alone in KY.
In the case of buying a used MH (that sold for $200K new) for $30K that leaves one with $10,200.00 to spend on it the first year in just sales tax only savings and about $2000 each year afters from tax/insurance savings.
I think this is a non issue for many but for some of us to save $170,000 up front and lower annual ownership costs is important as average US income is declining each year and in light that some current retirement plans will be directly cut by maybe 50% as states, post office and other federal retirement plans run out of money.
Until this year our area has not been really hit hard but toys are hitting the market like crazy now and job losses in the area are like I have never seen. This makes the tax man's bills get more attention.
Buying/owning a nice 10 year old version of a $65K vehicle for $15K leaves a lot of cash for vehicle repairs just from saved taxes alone in KY.
In the case of buying a used MH (that sold for $200K new) for $30K that leaves one with $10,200.00 to spend on it the first year in just sales tax only savings and about $2000 each year afters from tax/insurance savings.
I think this is a non issue for many but for some of us to save $170,000 up front and lower annual ownership costs is important as average US income is declining each year and in light that some current retirement plans will be directly cut by maybe 50% as states, post office and other federal retirement plans run out of money.
Until this year our area has not been really hit hard but toys are hitting the market like crazy now and job losses in the area are like I have never seen. This makes the tax man's bills get more attention.
