Feels like I've been here before

[clyde]

Originally Posted by equ

By that logic, just sell the Camaro already. Overthinking much?

Overthinking? I would think so.

[snip a whole wall of text of proving equ's thesis]

Two reasons: Tax benefit of trading in versus selling separately and tag transfer.

Based on what Carvana and dealers were offering me when I was actively trying to buy, the Carvana offer was mostly higher than what the combined trade+tax benefit were worth. I don't think that's the case today.

I also really, really want to keep my tags. If it's not a trade-in transaction, it gets more difficult to make a transfer feasible. Selling the car to Carvana and buying another car a few days later is probably doable. Selling to Carvana today and not buying a car for three more months is probably not. Keeping the tags is worth a non-zero number of dollars even if I don't know how many dollars I'm willing to spend for it.

I suspect my hand will be forced pretty soon as I think the current Carvana offer probably represents the top. Dunno if it's a peak or plateau, though.

[FC]

Originally Posted by Plaz

That's a great one. Plus I love the X-Files.

[kognito]

Yes, you must keep that tag

[Alan]

Originally Posted by clyde

Overthinking? I would think so.

[snip a whole wall of text of proving equ's thesis]

Two reasons: Tax benefit of trading in versus selling separately and tag transfer.

Based on what Carvana and dealers were offering me when I was actively trying to buy, the Carvana offer was mostly higher than what the combined trade+tax benefit were worth. I don't think that's the case today.

I also really, really want to keep my tags. If it's not a trade-in transaction, it gets more difficult to make a transfer feasible. Selling the car to Carvana and buying another car a few days later is probably doable. Selling to Carvana today and not buying a car for three more months is probably not. Keeping the tags is worth a non-zero number of dollars even if I don't know how many dollars I'm willing to spend for it.

I suspect my hand will be forced pretty soon as I think the current Carvana offer probably represents the top. Dunno if it's a peak or plateau, though.

As far as the plate goes be careful if you sell the Camaro and keep the plate, I am not sure of the laws in your state but if you keep a plate here in NY it must have insurance in place or you get fined or a possible suspension.

I actually just went through this when we got rid of my daughters A4, local DMW's were closed, I was too lazy to mail the plate in to DMW and ended up just keeping the insurance in place for an extra month before we transferred the new plates to the Q5.

[clyde]

Originally Posted by Alan

As far as the plate goes be careful if you sell the Camaro and keep the plate, I am not sure of the laws in your state but if you keep a plate here in NY it must have insurance in place or you get fined or a possible suspension.

I actually just went through this when we got rid of my daughters A4, local DMW's were closed, I was too lazy to mail the plate in to DMW and ended up just keeping the insurance in place for an extra month before we transferred the new plates to the Q5.

Maryland is one of the most draconian in terms of tags and insurance. I made the Miata disappear a few weeks before the COVID shutdown, but dawdled on returning the tags. Then the MVA shutdown and tags could only be returned at a few kiosks. I wasn't wild about dropping my tags there because there's no immediate receipt from the state that they took possession of them and I have discharged my civic duty. It was almost two months later when I wanted to get our car insurance stuff in order before I did it and I waited until the state mailed me confirmation before I cancelled insurance on it.

They also make it very difficult, if not impossible, to transfer tags from one vehicle you own to another you own that already has tags. It's super easy to transfer from an old vehicle you are getting rid of to a new one that is immediately replacing it. As long as they are the same class vehicle (car vs truck, etc). If the classes are different, it's doable, but a PITA.

[JST]

Originally Posted by clyde

Maryland is one of the most draconian in terms of tags and insurance. I made the Miata disappear a few weeks before the COVID shutdown, but dawdled on returning the tags. Then the MVA shutdown and tags could only be returned at a few kiosks. I wasn't wild about dropping my tags there because there's no immediate receipt from the state that they took possession of them and I have discharged my civic duty. It was almost two months later when I wanted to get our car insurance stuff in order before I did it and I waited until the state mailed me confirmation before I cancelled insurance on it.

They also make it very difficult, if not impossible, to transfer tags from one vehicle you own to another you own that already has tags. It's super easy to transfer from an old vehicle you are getting rid of to a new one that is immediately replacing it. As long as they are the same class vehicle (car vs truck, etc). If the classes are different, it's doable, but a PITA.

Huh, wild, I still have a stack of old license plates downstairs from VA.

[Alan]

Originally Posted by clyde

Maryland is one of the most draconian in terms of tags and insurance. I made the Miata disappear a few weeks before the COVID shutdown, but dawdled on returning the tags. Then the MVA shutdown and tags could only be returned at a few kiosks. I wasn't wild about dropping my tags there because there's no immediate receipt from the state that they took possession of them and I have discharged my civic duty. It was almost two months later when I wanted to get our car insurance stuff in order before I did it and I waited until the state mailed me confirmation before I cancelled insurance on it.

They also make it very difficult, if not impossible, to transfer tags from one vehicle you own to another you own that already has tags. It's super easy to transfer from an old vehicle you are getting rid of to a new one that is immediately replacing it. As long as they are the same class vehicle (car vs truck, etc). If the classes are different, it's doable, but a PITA.

Damn way too complicated for something that should be simple ... argh .. that’s the government for you

[FC]

Originally Posted by JST

Huh, wild, I still have a stack of old license plates downstairs from VA.

MA doesn't make you physically return them anymore, but they do ask that you destroy them. I don't and I have a pretty big stack of them.

[clyde]

Originally Posted by JST

Huh, wild, I still have a stack of old license plates downstairs from VA.

Originally Posted by FC

MA doesn't make you physically return them anymore, but they do ask that you destroy them. I don't and I have a pretty big stack of them.

The idea is to prevent someone from having a valid looking tag on a car without insurance.

The penalty is $150 fine for first 30 days and $7 for each additional day, up to an annual maximum of $2500 per vehicle. I don't understand the point of the maximum. At $7/day without a cap, the maximum possible would be $2555, $2562 in leap years.

If you don't respond to their liking soon enough, they send it to their collections unit which adds an additional 17% penalty.

Originally Posted by Alan

Damn way too complicated for something that should be simple ... argh .. that’s the government for you

No, that's Maryland. Government is inherently neither evil nor incompetent. It is, at its worst, a reflection of the citizens it governs.

[equ]

In NJ, you can only keep the tag if registration is still current. So in this state, if I sell, do not cancel registration and keep it live until the new machine arrives, I can re-use the plates.