Re: Where does NADA come up with their values?
Down below the values is a few paragraphs of explanation. A Low Book vehicle can be a Daily Driver, but is a running vehicle. The Average Book is an older restoration that needs some attention, or an amateur restoration, but is also what NADA calls a "20-footer", meaning (just what it says) that it looks good from 20 feet away. A High Book truck is one that is at the top of the food chain and is perfect.
For any Department of Motor Vehicles representative to go with the High Book value because someone up the ladder created a document that tells them to do so, is just plain wrong.
When I bought my truck 11 years ago, I paid $3K for it. I had the seller to write that I had paid $2200 for it. That is what shows on my tax assessment. I did it to keep from paying taxes on it, because our state charges sales tax on used vehicles that sell in excess of $2500. I grew up without paying sales tax on any used vehicle and don't think it is the right thing to do to keep paying sales taxes on top of annual personal property taxes, but that's just my opinion. No, I'm not on a political soapbox.
I think your DMV was wrong in their assessment and I'd protest it. NADA's verbage should serve as all the argument you need. If it won't run, and can't be driven or is just a parts vehicle, then by NADA's own statements it is not a Low Book vehicle and should not be valued as such, much less a higher value.
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Member Nr. 2770
'96 GMC Sportside; 4.3/SLT - Daily driven....constantly needs washed.
'69 C-10 SWB; 350/TH400 - in limbo
The older I get, the better I was.
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