We currently live in N. Carolina and the cost to register a classic car with the DMV has become rather expensive . More specifically , it's the road use tax which can easily be 2-3k on a nicer vehicle . We are thinking about moving and was wondering if the registration costs are significantly less in S.C. . Thanks .
I can't help you with the cost in South Carolina, but enlighten us on the road use tax in N. Carolina and how it relates to the "nicer" vehicles. Is it based on an assumed value of the car or the actual mileage the car is used annually? This could help a lot of folks in their decisions about where they might want to retire. You might also want to send a PM (conversation) to Danny, aka HRP (Hot Rod Primer) as he is in S. Carolina and might be able to shed some light on the cost over there......................Don.
I have lived in NC all my life and have never experienced tax that high for renewing the registration annually. Are you talking about the sales tax when you first register it?
............Yeah, I'm curious about that myself. In Maryland they like to call it a usury fee so it doesn't sound like a tax, which of course it really is. It's the same rate as the state sales tax of 6%. So, if one buys a $40,000 car and goes to register it in Maryland he has to pay $2400 for this fee and that's in addition to all other tag, title and registration fees. I'm assuming that's what the OP is referring to since he mentions "nicer" vehicles. Still, I would appreciate some clarification in this regard as I know a lot of folks give consideration to N.C. when thinking about retirement.
I live in Myrtle Beach SC. Costs for old stuff are very reasonable here compared to North Carolina. If you purchase an antique plate it’s on a one time 25 dollar charge and you are done. Sales tax is 5% and has a cap of 300 no matter what the vehicle costs. Sent from my iPad using The H.A.M.B. mobile app
If your car is 30+ years old U can get an Antique or Horseless Carriage tag, the car is then valued at $5K & tax is minimal & based on your counties personal property tax rate. I pay less than $5 tax per year on my cars. Tags are renewable annually for $36 registration fee. If U buy from a dealer (auction, etc) you must present the sales receipt & pay 7% of it, if purchased from an individual they use a scale based on the Old Cars Price Guide or some thing similar - u can challenge it. If it comes from out of state, it has to be inspected by DMV & that's a night mare.
In NC, if you bought your car at an auction or from a dealer, you are taxed on what you actually paid. If you bought it from an individual, they look up the value in their book and the tax is extremely low. I just found this out the hard way with a 48 Buick Convertible I bought last year at an auction.
Don't move down here, we pay outrageous / exorbitant annual registrations costs with cars on full registration all over Australia!! V8s and other multi-cylinders (V10, V12 etc) cost a lot more than 4 or 6cyl vehicles. My 35 Chebby is only on club (Limited or restricted registration) and it's a lot cheaper by comparison! We do pay State imposed 4% stamp duty (Tax) from memory on registration (Vehicle transfers) and similar when vehicles are registered but no road tax apart from toll roads (Turnpikes). In my state we are also charged a traffic improvement fee (More tax) and compulsory 3rd party insurance that are components of the annual registration fees. I don't see too many improvements for my investment with the traffic improvement fee, it goes into IMO a larger 'consolidated revenue' fund operated by the State. Local, main roads and highways are SHIT! Stamp duty is based on the declared valuation. I travelled through Europe in 2018 and some countries require you to pay road tax only if visiting or driving through. the label must be attached and visible through windshield. You can't escape death or taxes no matter which continent you live on. It's for the greater good.
....I feel for you folks down there. Hoping it never comes to this here, but it eventually probably will..Many states here are such economic disasters that they often give consideration to a road use tax where you would be taxed on the number of miles that you drive annually. That would be disastrous for many of us. I've often said that they will eventually legislate hot rods off the roads or they will tax us off the roads.
Sorry that I started this thread and haven't been back since .Been really busy with a late car buddy's estate . My concern for the registration costs come from a guy who licensed an Amphicar of all things and the state valued it at around 55k . Of course he then had to pay the road use tax based on that valuation which if memory serves me was approx. $1650 . A friend bought an old off topic BMW 2002 for around $600 . When he went to register it about a year later the DMV put a 10k valuation on it . With a 3% road use tax , he then had to pay $300.00 . In answer to lothiadon the road use tax is based on an assumed value of the vehicle . I have done a bit more research and found that you can register a vehicle as vintage and get the corresponding license plate and save a lot of money but of course there are then restrictions on how the vehicle can then be used . Also when you move to N.C. and first register your vehicles the initial registration has a cap of $250.00 for the road use tax . I guess that is a "welcome to N.C. discount " . Thanks to everyone for their input .
Thanks for getting back to us with that info. Once again, I think for someone (a car person), they might be better off moving to S.C. or even Tennessee for a better car ownership experience. I'm sure there are lots of other considerations to investigate before making a decision as to where to retire to.
My own experience with SC DMV is not to lead them with too much information. They expect a certain amount of facts and documentation and beyond that, you're setting off red lights. Get your car titled, taxed, and tagged. THEN you come back and ask about "classic" or "antique" or "YOM" plates. DMV clerks just want to get you out of their face and on to the next person. Start asking odd questions while in the initial stage and you're gonna vapor lock them.
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