Post Number: 160
|Posted on Monday, June 02, 2008 - 2:20 pm: || |
Found this on the Michigan DMV page:
License plate fees for 1984 or newer model year passenger vehicles and light trucks are calculated using a percentage of the manufacturer's suggested retail price (MSRP) at the time the vehicle is first titled. This is also known as the base price. It is then reduced by a percentage of that registration fee for the following three years. Under the present law, no further reduction is provided.
I've never heard of the new price being used when figuring registration costs. How do they figure it when your car is 19 years old? Any idea what it might cost? thanks
Post Number: 323
|Posted on Monday, June 02, 2008 - 2:22 pm: || |
Hopefully you can just roll the payment into your 12K 30 year fixed mortgage.
Post Number: 171
|Posted on Monday, June 02, 2008 - 2:27 pm: || |
The registration fee for my 17 year old car is $79 per year.
Post Number: 6922
|Posted on Monday, June 02, 2008 - 2:32 pm: || |
If you have a 19 year old Lincoln, Cadillac or Mercedes for example... and the car cost $39,000 new... then today say the vehicle is only worth $1000-$3000. Well the license plate renewal is still circa $150... still based on that original sticker price, regardless of how little the car is actually worth today.
Post Number: 2996
|Posted on Monday, June 02, 2008 - 2:40 pm: || |
As stated they've been doing this since 1984. It stops them from having to go in and get approval for License plate rate increases. They used to have to have public meetings every time they raised the fees. Now they just happen automagicly as the price of cars inflate.
It is based on the MSRP of the vehicle as purchased new. It decreases slightly during the first three years. It remains at that price for the life of the car.
The secretary of state keeps track of the base price of all vehicles sold since 1984. Call the SOS they'll tell you how much it will cost.
Post Number: 17
|Posted on Monday, June 02, 2008 - 5:42 pm: || |
I'm glad the original poster posted this as it reminded me I had a question.
Are you required to get annual vehicle inspections to renew your registration in Michigan?
Post Number: 1774
|Posted on Monday, June 02, 2008 - 6:08 pm: || |
Post Number: 161
|Posted on Monday, June 02, 2008 - 8:15 pm: || |
Is Detroit city taxes on top of the registration fee? Here the tag costs a flat $26 every two years plus county/city ad valorem tax. Total for all on my 19 year old Lincoln runs around $60 a year. No safety or emission inspections.
Post Number: 751
|Posted on Tuesday, June 03, 2008 - 12:35 am: || |
I'm pretty sure (Not 100%) that plate costs for cars older than 1984 are based on the car's weight.
Post Number: 1741
|Posted on Tuesday, June 03, 2008 - 2:22 am: || |
My 1996 Bonneville SSE costs me $120 a year. Sucks that the car was 34k brand new 12 years ago! When I had my 2001 Cherokee Sport it was $44 a year (leased)
Post Number: 162
|Posted on Tuesday, June 03, 2008 - 2:24 am: || |
Ouch, would not help one car is an 89 Lincoln Town car and the other is an 89 Mercury Grand Marquis.
Post Number: 1913
|Posted on Tuesday, June 03, 2008 - 8:59 am: || |
News to me, I had thought it had to do with a vehicle's weight. My '74 Ford was $58 until I switched over to YOM plates, and my '91 Dodge Truck is $52.