Where does NADA come up with their values? - The 1947 - Present Chevrolet & GMC Truck Message Board Network

Rob H. · 10-09-2010, 10:22 PM

I recently went to transfer a 69, it had an Ohio title that was notorized and signed off by the PO. I had the deputy come out and inspect it, cost me $5.00 for that. Went to the clerks office to do the transfer and since the PO wasn't around to sign their affadavit confirming the purchase price they wanted to charge me taxes on the high book value instead of the $550 I gave for it. There is a tremendous differance in $550 and $34,300. I love these trucks, but I haven't seen one yet I'd give that kinda money for! Even the low value NADA puts on them is high but the state choses to go with the high value. I've gone all week thinking on this, guess just had to finally post my rant. I told them too forget it for now!!!!!

Longhorn Man · 10-09-2010, 10:37 PM

Funny how the states have found more ways to get in your pockets huh?
I think i'd have told them a few unpostable things, and then have them look at it for there selves.
I find it funny that your DMV won't take a notory public's word for it on the sales price. It's supposed to be on the title when they sign off on it.

extd56 · 10-09-2010, 10:52 PM

Maybe they will buy it from you at that price.

Rob H. · 10-09-2010, 10:54 PM

I did make them that offer!

**fredm98** · 10-09-2010, 11:03 PM

I went through a similar situation in South Dakota applying for an abandoned vehicle title. The thing was all rotted out and sat in the trees for about 15 years. I called the state DMV and talked them into going with the low book which was still $9,000. I offered to have a bank appraise it but they said their policy is to use NADA.

extd56 · 10-09-2010, 11:07 PM

Don't let California in on that, I will be paying a lot of money for the 12 cars that I have. I recently bought a 54 Chevy wagon that was a good project and ran but needed work. If California did that I would have been paying tax on about 40,000. Maybe you can title it in another state in your name and then transfer it to your state. Or maybe put it in a relatives name who can give it back to you. I wish NADA bought cars, I would be rich.

capev86 · 10-09-2010, 11:41 PM

regular registration in maine is based on original new car value. i had to pay close to 400 bucks last year when i registered my my 72 burb c20 because of the excise tax my paying 7500 for it (right on the bill of sale). this year it was just a hair over 50 bucks. less than 1/2 what i pay for my '97 merc sable wagon daily driver.

alsriv2 · 10-10-2010, 05:13 AM

Hello capev86!

Glad to see someone from my former area on line. Is that salvage yard "Eliott Auto Sales" still around? My Dad and I used to spend many days in that place going thru and looking at all those old cars and trucks he had squirelled around in the back yard and woods. Dad had a '38 International D2 pickup and was actually able to get some NOS valves for the engine from that guy. He has a tremendous stock of NOS that was in his barn from dealers and parts places (Robin Auto Parts in Portsmouth) when they cleaned out their inventories of "obslolete" parts.

Al
'69 GMC 2500 Longhorn
'69 Chevy CST/10 396

ChevLoRay · 10-10-2010, 12:00 PM

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.

Longhorn Man · 10-10-2010, 12:10 PM

Quote:

Originally Posted by ChevLoRay

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...

And THIS is why DMVs are charging high end NADA value. Too many people not willing to carry there own weight by paying what they are legally responsible to do.
I'll admit that I am part of the problam, as I have cheated on 2 cars I have bought. But that is a far cry from never paying.

ChevLoRay · 10-10-2010, 12:18 PM

...yeah, but so far the county hasn't picked up on it and increased the base rate and the assessed valuation. But, it's really the State that sets those rates into motion for the counties to use in establishing your annual personal property taxes.

Some states without personal property taxes assess "taxes" when you renew your tags. But, these taxes are not sales taxes.

capev86 · 10-10-2010, 02:18 PM

hey alsriv2:

there is an eliot auto sales (used car dealership) on 236and there are two junk yards nearby on 101 on the north side of eliot. nationwide craigslist searches, ebay, local publications (remember uncle henrys?), and various forums are the tools i generally use now rather than crawling through yards. i picked up a 66-69 saginaw w/ borg warner OD in CT just a few weeks ago that i found on craigslist.

ok.....someone smack me for stealing this thread!!!

Yellow93Z71 · 10-10-2010, 03:39 PM

Either way it's a real crock that they charge taxes on a used vehicle. Taxes have already been paid on that piece of property (when it was sold new) and is now being transferred from one person to another. I can understand having to tax used vehicles being sold from a dealer, but how can they require sales tax on a piece of personal property being transferred from one individual to another. Government has their greedy hands in too many things if you ask me. Just my 0.02...

ChevLoRay · 10-10-2010, 03:51 PM

We digressed from the original question....that being WHERE does NADA come up with these values? NADA monitors sales through Kruse (for instance) and other sites and that forms the basis for their pricing. I'm guessing they have accountants that look at a sale price for a show vehicle and then go from that price to establish the Average and Low prices.

I'm also going to say that there are a bunch of us who would gladly sell ours for what NADA says it is worth, but the chances of finding someone who would pay the NADA price, is going to be slim. Does it mean they are or are not worth that NADA value? Depends. Some of us will say ours is worth more. That's what this game is all about....matching up the buyers and the sellers and having each walk/drive away and feel good about the end result. Dad always told me, "The first one to mention money, loses." If you're buying you may try to buy too high. If you're the seller, your price may be too low. Until the deal is done, and you have that hindsight feeling that is almost always 20-20, you won't know how you did...on either side of the transaction.

**GOPAPA** · 10-10-2010, 04:29 PM

All of the classic car value sites like NADA base their values on recent auction prices.. I read that Nada is going to start updating by the week (7 days) instead of by 60 days ..
If you buy from a dealer you will pay more than a private party and like wise at an auction for classics you will pay more .. this is the way I read it and see it as why Nada is high on values of our classic cars and trucks.

Musclerodz · 10-10-2010, 05:07 PM

Why is the DMV charging NADA values in the first place? That is purely someones opinion on older vehicles. Oklahoma has always charged based upon the original sale value on the title depreciated over the years. they have now included purchase amount on titles which they now use to base taxes on as well.

PanelDeland · 10-10-2010, 05:44 PM

Even "Stealerships"(dealerships) don't use NADA.If you look up the value of nearly any vehicle the dealership will not give you anywhere near that for one.Insurance co. either.I've heard they use a dealer only book that shows well below what NADA does,though I have no proof.

IMHO NADA uses the "Mostly inaccurate,almost twice what the market value actually is,referenced by some unweildy set of condition variables,pull a # out of you A$$" system.I also have no proof of this.

Little Red · 10-10-2010, 06:40 PM

Wow, just looked my trucks value up on NADA ...It say's it's worth $7.875! Holy Crap is that high! What the hell is that number based on? Good I guess If I wanted to sell ...Not!

http://www.nadaguides.com/default.as...0&z=15120&da=1

llowlife · 10-10-2010, 06:52 PM

How do they determine their prices? PFM Pure Fn Magic.

Number21 · 10-10-2010, 07:03 PM

Wow, what a load of crap. I was pissed because they upped the title transfer fee to $77 and $86 for 2 years registration. Oregon DMV couldn't care less what my vehicle is worth.

**GOPAPA** · 10-10-2010, 09:18 PM

Quote:

Originally Posted by Number21

Wow, what a load of crap. I was pissed because they upped the title transfer fee to $77 and $86 for 2 years registration. Oregon DMV couldn't care less what my vehicle is worth.

When the economy is this bad and no monies comming in to pay the bills (like for the pers that the state workers get) then they raise the taxes on all the ones we have already.. burns me too ..like more taxes is going to help the economy ??

I got off topic I just realized sorry

Rob H. · 10-10-2010, 09:45 PM

I've just kinda put the 69 on hold till I can figure out a way around these legal highwaymen. I'm gonna fix the 72 with all the good parts and if the other gets fixed it'll go together with the rusty, beat up parts for a beater work truck. I have a clear Ky title on the 72 already. I am curious what they'll try to pull when I go to put tags on it. I'm gonna wait to fix it up until after it's on the road! I'm not conceding defeat, just going with Plan B!

**fine69** · 10-10-2010, 09:53 PM

Quote:

Originally Posted by Rob H.

I've just kinda put the 69 on hold till I can figure out a way around these legal highwaymen. I'm gonna fix the 72 with all the good parts and if the other gets fixed it'll go together with the rusty, beat up parts for a beater work truck. I have a clear Ky title on the 72 already. I am curious what they'll try to pull when I go to put tags on it. I'm gonna wait to fix it up until after it's on the road! I'm not conceding defeat, just going with Plan B!

Bad part is that now your trying to figure out a way to LIE. To cover up an HONEST transaction.

How fu.....much does that suck?

My advice is take plenty of pics of the truck. Then go get it appraised by a collector car place. Explain your issue to them. I am sure it won't be the first time they had someone come to them with this issue.

Rob H. · 10-10-2010, 10:56 PM

Not gonna lie about it, but I am gonna check with another county, seems some are more understanding than others.

**fine69** · 10-11-2010, 12:03 AM

Quote:

Originally Posted by Rob H.

Not gonna lie about it, but I am gonna check with another county, seems some are more understanding than others.

Yea, i do that here. The women at my title dept. are not so swift.

I go to the next county most of the time.

10-09-2010, 10:22 PM	#1
Rob H. Registered User Join Date: Nov 2008 Location: Petersville KY Posts: 673	Where does NADA come up with their values? I recently went to transfer a 69, it had an Ohio title that was notorized and signed off by the PO. I had the deputy come out and inspect it, cost me $5.00 for that. Went to the clerks office to do the transfer and since the PO wasn't around to sign their affadavit confirming the purchase price they wanted to charge me taxes on the high book value instead of the $550 I gave for it. There is a tremendous differance in $550 and $34,300. I love these trucks, but I haven't seen one yet I'd give that kinda money for! Even the low value NADA puts on them is high but the state choses to go with the high value. I've gone all week thinking on this, guess just had to finally post my rant. I told them too forget it for now!!!!! __________________ Rob 72 C/10 (under reconstruction)(destruction ? LOL) 48 Willys CJ2A 1952 Super "A" Farmall (Grandfather's)

10-09-2010, 10:37 PM	#2
Longhorn Man its all about the +6 inches Join Date: Jan 2001 Location: Hilliard Ohio Posts: 2,693	Re: Where does NADA come up with their values? Funny how the states have found more ways to get in your pockets huh? I think i'd have told them a few unpostable things, and then have them look at it for there selves. I find it funny that your DMV won't take a notory public's word for it on the sales price. It's supposed to be on the title when they sign off on it.

10-09-2010, 10:52 PM	#3
extd56 Senior Member Join Date: Nov 2004 Location: Vacaville, CA Posts: 2,272	Re: Where does NADA come up with their values? Maybe they will buy it from you at that price.

10-09-2010, 10:54 PM	#4
Rob H. Registered User Join Date: Nov 2008 Location: Petersville KY Posts: 673	Re: Where does NADA come up with their values? I did make them that offer! __________________ Rob 72 C/10 (under reconstruction)(destruction ? LOL) 48 Willys CJ2A 1952 Super "A" Farmall (Grandfather's)

10-09-2010, 11:03 PM	#5
fredm98 Active Member Join Date: May 2009 Location: Sioux Falls, SD Posts: 110	Re: Where does NADA come up with their values? I went through a similar situation in South Dakota applying for an abandoned vehicle title. The thing was all rotted out and sat in the trees for about 15 years. I called the state DMV and talked them into going with the low book which was still $9,000. I offered to have a bank appraise it but they said their policy is to use NADA.

10-09-2010, 11:07 PM	#6
extd56 Senior Member Join Date: Nov 2004 Location: Vacaville, CA Posts: 2,272	Re: Where does NADA come up with their values? Don't let California in on that, I will be paying a lot of money for the 12 cars that I have. I recently bought a 54 Chevy wagon that was a good project and ran but needed work. If California did that I would have been paying tax on about 40,000. Maybe you can title it in another state in your name and then transfer it to your state. Or maybe put it in a relatives name who can give it back to you. I wish NADA bought cars, I would be rich. Last edited by extd56; 10-09-2010 at 11:08 PM.

10-09-2010, 11:41 PM	#7
capev86 Registered User Join Date: May 2009 Location: Eliot, Maine Posts: 1,314	Re: Where does NADA come up with their values? regular registration in maine is based on original new car value. i had to pay close to 400 bucks last year when i registered my my 72 burb c20 because of the excise tax my paying 7500 for it (right on the bill of sale). this year it was just a hair over 50 bucks. less than 1/2 what i pay for my '97 merc sable wagon daily driver. Last edited by capev86; 10-09-2010 at 11:46 PM.

10-10-2010, 05:13 AM	#8
alsriv2 Registered User Join Date: Sep 2010 Location: Formerly MD and San Diego, now loving life in Arizona Posts: 1,636	Re: Where does NADA come up with their values? Hello capev86! Glad to see someone from my former area on line. Is that salvage yard "Eliott Auto Sales" still around? My Dad and I used to spend many days in that place going thru and looking at all those old cars and trucks he had squirelled around in the back yard and woods. Dad had a '38 International D2 pickup and was actually able to get some NOS valves for the engine from that guy. He has a tremendous stock of NOS that was in his barn from dealers and parts places (Robin Auto Parts in Portsmouth) when they cleaned out their inventories of "obslolete" parts. Al '69 GMC 2500 Longhorn '69 Chevy CST/10 396

10-10-2010, 12:00 PM	#9
ChevLoRay Old Skool Club Join Date: Jun 2001 Location: Benton, AR "The Heart of Arkansas" Posts: 10,880	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. __________________ 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.

10-10-2010, 12:18 PM	#11
ChevLoRay Old Skool Club Join Date: Jun 2001 Location: Benton, AR "The Heart of Arkansas" Posts: 10,880	Re: Where does NADA come up with their values? ...yeah, but so far the county hasn't picked up on it and increased the base rate and the assessed valuation. But, it's really the State that sets those rates into motion for the counties to use in establishing your annual personal property taxes. Some states without personal property taxes assess "taxes" when you renew your tags. But, these taxes are not sales taxes. __________________ 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.

10-10-2010, 02:18 PM	#12
capev86 Registered User Join Date: May 2009 Location: Eliot, Maine Posts: 1,314	Re: Where does NADA come up with their values? hey alsriv2: there is an eliot auto sales (used car dealership) on 236and there are two junk yards nearby on 101 on the north side of eliot. nationwide craigslist searches, ebay, local publications (remember uncle henrys?), and various forums are the tools i generally use now rather than crawling through yards. i picked up a 66-69 saginaw w/ borg warner OD in CT just a few weeks ago that i found on craigslist. ok.....someone smack me for stealing this thread!!! Last edited by capev86; 10-10-2010 at 02:20 PM.

10-10-2010, 03:39 PM	#13
Yellow93Z71 Registered User Join Date: Oct 2007 Location: Kailua, HI Posts: 27	Re: Where does NADA come up with their values? Either way it's a real crock that they charge taxes on a used vehicle. Taxes have already been paid on that piece of property (when it was sold new) and is now being transferred from one person to another. I can understand having to tax used vehicles being sold from a dealer, but how can they require sales tax on a piece of personal property being transferred from one individual to another. Government has their greedy hands in too many things if you ask me. Just my 0.02...

10-10-2010, 03:51 PM	#14
ChevLoRay Old Skool Club Join Date: Jun 2001 Location: Benton, AR "The Heart of Arkansas" Posts: 10,880	Re: Where does NADA come up with their values? We digressed from the original question....that being WHERE does NADA come up with these values? NADA monitors sales through Kruse (for instance) and other sites and that forms the basis for their pricing. I'm guessing they have accountants that look at a sale price for a show vehicle and then go from that price to establish the Average and Low prices. I'm also going to say that there are a bunch of us who would gladly sell ours for what NADA says it is worth, but the chances of finding someone who would pay the NADA price, is going to be slim. Does it mean they are or are not worth that NADA value? Depends. Some of us will say ours is worth more. That's what this game is all about....matching up the buyers and the sellers and having each walk/drive away and feel good about the end result. Dad always told me, "The first one to mention money, loses." If you're buying you may try to buy too high. If you're the seller, your price may be too low. Until the deal is done, and you have that hindsight feeling that is almost always 20-20, you won't know how you did...on either side of the transaction. __________________ 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.

10-10-2010, 04:29 PM	#15
GOPAPA Senior Member Join Date: Oct 2007 Location: Nampa Idaho Posts: 7,452	Re: Where does NADA come up with their values? All of the classic car value sites like NADA base their values on recent auction prices.. I read that Nada is going to start updating by the week (7 days) instead of by 60 days .. If you buy from a dealer you will pay more than a private party and like wise at an auction for classics you will pay more .. this is the way I read it and see it as why Nada is high on values of our classic cars and trucks.

10-10-2010, 05:07 PM	#16
Musclerodz Senior Member Join Date: Aug 2005 Location: OKC, OK Posts: 2,365	Re: Where does NADA come up with their values? Why is the DMV charging NADA values in the first place? That is purely someones opinion on older vehicles. Oklahoma has always charged based upon the original sale value on the title depreciated over the years. they have now included purchase amount on titles which they now use to base taxes on as well. __________________ Mike Redpath



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10-10-2010, 05:44 PM	#17
PanelDeland I am a Referee of life. Join Date: Jun 2000 Location: Greensboro N.C. Posts: 13,993	Re: Where does NADA come up with their values? Even "Stealerships"(dealerships) don't use NADA.If you look up the value of nearly any vehicle the dealership will not give you anywhere near that for one.Insurance co. either.I've heard they use a dealer only book that shows well below what NADA does,though I have no proof. IMHO NADA uses the "Mostly inaccurate,almost twice what the market value actually is,referenced by some unweildy set of condition variables,pull a # out of you A$$" system.I also have no proof of this. __________________ The 47-present Chevrolet and GMC Truck Message Board Network,it's owners,moderators,members,and associates of any type should not be held responsible for my opinion. You can't fix stupid,not even with duct tape. "My appearance is due to the fact that "GOD" does punish you for having too much fun!" Barrett-Jackson has perfected alchemy,they make rust into gold! "You can lead a horse to water but you can't saddle a duck" "Cleverly disguised as a 'Responsible Adult' "Sometimes your Knight in shining armor is just a retard in tinfoil"

10-10-2010, 06:40 PM	#18
Little Red Registered User Join Date: Sep 2010 Location: Munhall, PA (Rust Belt USA) Posts: 20	Re: Where does NADA come up with their values? Wow, just looked my trucks value up on NADA ...It say's it's worth $7.875! Holy Crap is that high! What the hell is that number based on? Good I guess If I wanted to sell ...Not! http://www.nadaguides.com/default.as...0&z=15120&da=1 __________________ Some days your the bug some days your the windshield! 69 C10 Stepside ~ Project 79 K10 Shortbed 4X4 ~ Sold 72 Chevelle SS Clone ~ Sold

10-10-2010, 06:52 PM	#19
llowlife Registered User Join Date: Jan 2010 Location: Elgin Mn Posts: 112	Re: Where does NADA come up with their values? How do they determine their prices? PFM Pure Fn Magic. __________________ In the beginning of a change, the patriot is a scarce man, brave hated and scorned. When his cause succeeds however, the timid join him , for then it costs nothing to be a patriot. I am a revolutionary...so my son can be a farmer...so his son can be a poet. If there must be trouble, let it be in my day, so my child may have peace... 72 short step w/ 388 /4l80e/ and 3.08 gears.

10-10-2010, 07:03 PM	#20
Number21 Registered User Join Date: Aug 2009 Location: Oregon Posts: 611	Re: Where does NADA come up with their values? Wow, what a load of crap. I was pissed because they upped the title transfer fee to $77 and $86 for 2 years registration. Oregon DMV couldn't care less what my vehicle is worth.

10-10-2010, 09:45 PM	#22
Rob H. Registered User Join Date: Nov 2008 Location: Petersville KY Posts: 673	Re: Where does NADA come up with their values? I've just kinda put the 69 on hold till I can figure out a way around these legal highwaymen. I'm gonna fix the 72 with all the good parts and if the other gets fixed it'll go together with the rusty, beat up parts for a beater work truck. I have a clear Ky title on the 72 already. I am curious what they'll try to pull when I go to put tags on it. I'm gonna wait to fix it up until after it's on the road! I'm not conceding defeat, just going with Plan B! __________________ Rob 72 C/10 (under reconstruction)(destruction ? LOL) 48 Willys CJ2A 1952 Super "A" Farmall (Grandfather's)

10-10-2010, 10:56 PM	#24
Rob H. Registered User Join Date: Nov 2008 Location: Petersville KY Posts: 673	Re: Where does NADA come up with their values? Not gonna lie about it, but I am gonna check with another county, seems some are more understanding than others. __________________ Rob 72 C/10 (under reconstruction)(destruction ? LOL) 48 Willys CJ2A 1952 Super "A" Farmall (Grandfather's)

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