New Ride?

Topic: New Ride? (Read 644 times) previous topic - next topic

New Ride?

December 16, 2006, 03:53:11 PM

I found a 87 TC around here that a guy is letting go for $100. I want to pick it up, but i might not have room, and my dad is iffy about it, so I'd figure I'd get some advice. I know the car isn't in good condition, because the motor is locked. So I'm thinking on either dropping in the 351W or parting it out. it depends on the condition. But the main thing is taxes and insurance. Will i have to pay insurance on it if i dont licence it? I'm guessing I will have to pay property tax if i fix it, but what about if i part it? The only reason I want to part it is that I'm going to be out of work for a little bit, and need something to bring in a little money, and this just came to mind. Also, good way to learn about the car.

New Ride?

Reply #1 – December 16, 2006, 04:27:56 PM

If your ust going to part the car pay the guy $100, tow it home and part it, I dont even bother transfering ownership in those situations, the govt doesnt approbe but whatever, save me $50

Scott

New Ride?

Reply #2 – December 16, 2006, 04:41:29 PM

tireshredder,
I can't guarantee that this is true for every state, but you shouldn't have to insure a car that is not being driven on the road. Some states tell you that your car has to be licensed whether it is being driven or not, which I think is a stupid rule. Many towns won't even let you keep an unlicensed car on your property in the city limits. I had to junk an '86 Cougar and an '87 T-bird Sport (very nice parts cars) a couple years ago because they were sitting in the back yard and were not licensed, and I guess the neighbors complained. I had nowhere else to store them, so off they went. I think almost every state now has a mandatory insurance law on any car on the road. I also think that most states don't require you to pay sales tax on a car until it is registered/licensed. My unofficial rule is: if it's gonna be driven, I will register it, transfer the title, get it licensed, pay the sales tax, and put insurance on it; if it's gonna be a parts car or one to just mess with until I decide what to do with it, nobody needs to know about it. The last few parts cars I've bought, I never even transferred the title out of the person's name I bought it from, if it had a title. If I sell the car, I just let the next buyer deal with the title as if he bought it from the last owner, or if it gets junked, I hand the salvage guy the title and my name is nowhere to be found. As far as insurance, what damage can it do to anyone else's property if it's sitting in your driveway, right? This is all just my $0.02, but you probably should check with the local authorities if you really want to be safe. Good luck!

Fordman3

New Ride?

Reply #3 – December 16, 2006, 09:37:20 PM

Well, I just checked to see if the car was for sale, and it's gone.:( O well, I'll know for next time. Still thinking, if it was in bad enough condition, how would I get it under a salvage title? Would I make the choice, or would the government take decide? That way i could have the title, but it would be cheaper property tax.