New from Massachusetts - 1968 F350 Utility Truck

[Massauto]

Greetings.

I'm in the process of finalizing the purchase of a 1968 F350 Utility Truck with the 360 engine.

I have a question about how much sales tax I'll have to pay in Massachusetts. Registry web site says 6.25% of NADA Trade in Value, however I can't find that number on the NADA site...just retail numbers.

Anyone have that info in a NADA book anywhere?

Thank you in advance.

Ron

[Ohiotinkerer]

You used to be able together them at a bookstore but its been a while since I bought one so I can't say for sure anymore - you can also go to NADAguides.com and see if its listed on there. Or if you know someone in used car sales they could probably help.

Not to get off subject but are you saying that in Massachusetts you pay tax on the trade in value of a vehicle and not the actual sales price?

from Ohio

[Jacksdad]

Another F350? Awesome. Any pics?

[lennyp]

from Massachusetts.

[Ranchero50]

For tax purposes, there should be a minimum sale value. In MD it was $500 for years on anything without a current NADA value.

[Ohiotinkerer]

For tax purposes, there should be a minimum sale value. In MD it was $500 for years on anything without a current NADA value.

Ours here in Ohio is whatever your county sales tax is.....6 3/4% no matter if its $50 or $50,000......I can't imagine paying tax on book value if you paid a lot less for it.......

[ok68crewcab]

Welcome to Fordification!

[Massauto]

Thanks for the responses and welcomes.

No pics yet. Coming soon.

In Massachusetts the sales tax is calculated on the actual purchase price OR the NADA trade in value whichever is higher.

The "higher" is what worries me.

Ron

[Ohiotinkerer]

Thanks for the responses and welcomes.

No pics yet. Coming soon.

In Massachusetts the sales tax is calculated on the actual purchase price OR the NADA trade in value whichever is higher.

My purchase price is $ 1000. The "higher" is what worries me.

Ron

Guess i now know why they call your state Taxsachusetts........

[MadJoe]

Thanks for the responses and welcomes.

No pics yet. Coming soon.

In Massachusetts the sales tax is calculated on the actual purchase price OR the NADA trade in value whichever is higher.

My purchase price is $ 1000. The "higher" is what worries me.

Ron

Ron,

Sorry I didn't get to this sooner. I just went through this with my 1971 F-350 DRW in December (I live in the Littleton/Westford area, BTW). They took the NADA value of a 1971 F-350 "Flareside" lower value (a little over $9k) and charged me a mint.

A few things I noticed as I went through this process that could be used to your advantage:
MA will register your F-350 as a passenger vehicle if your insurance company is willing to insure it as a passenger vehicle (make sure they fill out the RMV-1 and list it as "Passenger").
This lowers your registration and possibly insurance fees, but may increase your sales tax. This also allows you to get it inspected for $35 instead of $125 (commercial inspections also require certain features you will have to add in order to pass like chocks and a fire extinguisher that you might not already have, and can only be performed by specific garages).
So, you may pay higher sales tax on a passenger-registered truck, but lower overall ownership costs because inspections and registrations aren't getting cheaper. My town is taxing me at a value of $500, don't know what your town will do (or if they even charge excise taxes on vehicles).

Also, depending on which DMV agent you get, it's up to their discretion what value they use from NADA. I went in the first time and got a guy who wanted to charge my taxes against mid value, then I had to go back again because I hadn't brought enough money to cover that (good thing!) and the lady only charged me against the lower value. So know your NADA values and what to expect, and if they charge against anything other than the lower value, pretend you need to leave and come back with enough money and hope you get a more agreeable agent.

Lastly, I recognize I'm writing this up in a hurry, so if anything isn't clear or you have unaddressed questions don't hesitate to ask here or PM me.

Good luck,
Joe

[sargentrs]

from Georgia!

[Massauto]

[jzjames]

Dig in to the MA DMV website to see if there is a form you can submit to justify a lower-than-blue book value on the car.
There should be.
MA is one of the worst DMVs, but it is also one of the worst rusted out vehicle states.

[MadJoe]

I hope you get it worked out, looks like a lot of potential in that truck (but also a lot of work!).

[Jacksdad]

Different coast, but I'm having fun in California because of my pending RV to stake bed conversion. Every truck in the state is considered to be a commercial vehicle, and has to registered and insured as such. There are very few exceptions, trucks permanently fitted with tonneau covers and camper shells being the key exemptions.

Back to your problem, and MadJoe's post about insurance. Even though mine left the factory as a cab and chassis, returning it to that configuration and throwing a flat bed on it freaked out all the insurance companies I spoke to, being classed as a conversion in their eyes. The other issue was commercial insurance, which I don't want or need because it's much more expensive (fun times explaining to the DMV staff why I want a one ton dually stake bed as a personal vehicle). I was having a hard time finding anyone that would offer me coverage, but Progressive agreed to both insure my "conversion" and issue a commercial policy for private or passenger use. Not sure if they could help you, but they were the only company I could find. I'm talking to Hagerty as well, and they might be able to do something because of our truck's classic status.

Nice truck, by the way