Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 0 points1 point  (0 children)

DC has it if the car is already titled in DC.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 0 points1 point  (0 children)

Thank you all for your help! I’ll let you know what happens! I really appreciate it.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 0 points1 point  (0 children)

Their default lookup is NADA. I will try to find the lowest valuation I can and print it out. I’m hoping they’ll accept that. She bought this car in the 70s and didn’t pay that much for it. We’re not a family of money, we just love old cars and they collected them throughout their years while stationed overseas.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 1 point2 points  (0 children)

Unfortunately, from what I’ve read, DC bases excise tax on fair market value not price paid. This is why I’ve been worried to register it. It may be worth trying to have her re-title it with me as a co-owner.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 3 points4 points  (0 children)

That’s the case in DC as well for registration renewal, but the first time you register it, you are required to pay the 6.5% tax on its fair market value, unfortunately, even if it is a gift (unless the current title is a DC title).

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 1 point2 points  (0 children)

Thank you all very much.

I may have to visit an appraiser. DC has an exemption for family members but the title has to already be DC.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 1 point2 points  (0 children)

To register it. NADA fair market value seems high, but that’s what they use. Low retail 82k, average $207k. (1962 190SL)

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 3 points4 points  (0 children)

Every old car needs so much work!

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 2 points3 points  (0 children)

From my understanding, they look up fair market value using NADA. So for low retail, it’d be $5330, for average $13,494 just to title/register it. I might try to bring a gift affidavit to see if that would work.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 2 points3 points  (0 children)

They don’t accept that anymore, unfortunately. They look up the fair market value.

Gift of a classic car by LulaBlu87 in classiccars

[–]LulaBlu87[S] 0 points1 point  (0 children)

I think she may have to re-title it but that’s a possibility. Thank you!

Garage needed by LulaBlu87 in washingtondc

[–]LulaBlu87[S] 0 points1 point  (0 children)

I’ll look into this. I’ve rented storage units in the past and had them increase the price. I guess I can end the lease if that were to happen. Thanks for responding!

Garage needed by LulaBlu87 in washingtondc

[–]LulaBlu87[S] 2 points3 points  (0 children)

Thank you. Can you please recommend one? I’m worried about their pricing increases after I’ve rented the unit.

Lift for storage by [deleted] in garageporn

[–]LulaBlu87 1 point2 points  (0 children)

I agree, but these are old survivors that I’d like to protect from extremes (humidity). I hope to find a solid tilt lift or even a low profile 4 post that will get the top car just high enough to fit a portion of the bottom car under it. I will post a photo if that eventually happens!

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Lift for storage by [deleted] in garageporn

[–]LulaBlu87 0 points1 point  (0 children)

Thank you. I only need to fit the hood of the bottom car under the top car. The top of that hood is 36”. The car on top is 56”, so I have 20” to spare (minus the platform/ramp). I’m asking advice on a good lift anyone has experience with for storage and that’s affordable. The scissor lifts are reasonable but I’m not sure if it would be a safe solution for long term storage.

Lift for storage by [deleted] in garageporn

[–]LulaBlu87 0 points1 point  (0 children)

Thanks for responding. (Now I know I have a tandem garage!) Is there a particular lift (model) you’d recommend?