Buying a used Cobra

tz1238 · #1 (**permalink**) 08-08-2003, 06:37 PM

I'm interested in a Cobra in Illinois. I also live in Illinois. In talking with the owner, he stated that he purchased a title in 2001 as a 1964 or 1966 (I can't remember which he said).He also stated that he has had no problems getting plates and insurance.
I'm concerned about how much sales tax I will be charged and if the cobra is emissions exempt. Can anybody shed any light on this. Thanks for any help.

mr bruce · #2 (**permalink**) 08-08-2003, 07:40 PM

Contact the Ill state police, ask them about using the title from one car to register another.

Excaliber · #3 (**permalink**) 08-08-2003, 08:18 PM

I must not understand the question. What I THOUGHT I heard was that this guy "purchased" a title for the Cobra and then used that title to register the car as a mid 60's vehicle?

Nah,,,,,I couldn't have heard it that way. So you "buy" the title from a 1966 Ford and then use it for another car????

Nah,,,,I'm confused. Nobody would be that stupid, right???

Ernie

casaleenie · #4 (**permalink**) 08-08-2003, 08:22 PM

This is just a guess, but wouldn't the tax be based on the purchase price of the vehicle????

got snake? · #5 (**permalink**) 08-08-2003, 10:03 PM

Taxed based on purchase price....Its a used car. You buy it. Pay your taxes on the purchase price and the get plates. BTW who's cobra did you buy? And where in IL are you?

GS

tz1238 · #6 (**permalink**) 08-08-2003, 10:11 PM

Elk Grove Village, same as you. Didn't buy anything yet. Kind of wary of the title and emissions thing. Enjoying shopping around , but not to many for sale in this area.

mrmustang · #7 (**permalink**) 08-08-2003, 11:00 PM

Beware of cars not legally tagged or titled, not only will your state have a problem with a switched VIN from one car to another, but the Fed's could and most likely would get involved with this offense.............

Bill S.

Lowell W · #8 (**permalink**) 08-09-2003, 07:29 AM

TZ,

Check your email.

got snake? · #9 (**permalink**) 08-09-2003, 10:36 AM

You got Mail

got snake? · #10 (**permalink**) 08-09-2003, 10:41 AM

TZ are you going to Bob Sutton's place? There will be plenty of guys there to answer you questions.

Sid

tz1238 · #11 (**permalink**) 08-09-2003, 07:36 PM

lowell W,
Checked my E-mail, but when I click on the thread I get a dead link. Could you please E-mail me again?
Got snake,
I'm totally new to all this. Where does Bob Sutton live?

After 22 years of boating and 7 boats, I finally got that out of my system. I've always wanted a Cobra, sooo, it's time for my 8th toy.

Lowell W · #12 (**permalink**) 08-09-2003, 11:48 PM

TZ,

OK, I emailed you my phone #; should be in with your regular emails (I think). Don't know about the "dead link" business-I ain't all that 'puter literate...

If that doesn't work and you want to post your email address, I'll email you directly or you can try sending me an email by clicking on the "email" ...thing at the bottom of this...thing.

We'll get this sorted out but in the meantime, don't buy any 1965 Fords that look like Cobras!

Lowell

mrmustang · #13 (**permalink**) 08-10-2003, 04:57 AM

Actually,

What he must look out for is any Cobra titled using the original VIN from another vehicle. Lots of Cobra replicas legally titled (at the time that they were) as 1964-1967 Fords....Using their own "unique" VIN number to do so..................

Bill S.

Lowell W · #14 (**permalink**) 08-10-2003, 07:43 AM

Thanks, Bill,

Actually, I was referring to TZs first post. I believe the practice of buying an old title and then stamping a new VIN tag was fairly prevalent until recently. A Cobra titled with a VIN from another vehicle, while possibly a legal registration, might raise eyebrows at the MVD and delay processing for just that reason. Not having all your paperwork ducks in line at the time of a traffic stop might result in the car's being impounded. Here in IL, there seems to have been a lot of confusion at various MVD offices regarding registration of these cars.

mrmustang · #15 (**permalink**) 08-10-2003, 08:25 AM

Yes, that is exactly my point, having your car use the VIN from another vehicle (no matter what that vehicle was) is considered title fraud these days, and is not only a state, but a federal offense. Imagine if you will you own one of these cars, you get in to an accident, and your insurance company decodes the VIn as a 1966 Ford LTD...Now, they send out an adjuster to look at your car, and lo and behold, they see not a 1966 LTD, but a Cobra replica instead......BIG RED FLAGS GO UP, and it is their responsibility to notify the state of this transgression..........Lawsuits erupt, previous owners get sued, they go after the people they bought it from originally, and so on and so forth..........Years can go by before things get straightened out, in the mean time, the car in question has been impounded, and the current owner is left footing the legal bills to get it back and titled legally..............

Don't think it can happen, it already has on several occasions in a few different states....................Titling a car these days, you either have to use what comes on the MSO, or deal with the state your going to title the car in and have them issue you a new VIN (aka: reconstructed or homebuilt status)....On the other hand, if the cars in question were titled using a unique (unused) VIN, and they have a track record going back a while, you might be able to duck around the other items listed above................

Bill S.

Bill S.

tz1238 · #16 (**permalink**) 08-10-2003, 08:45 AM

I was told that the car was built in Illinois, but the title was purchased "somewhere in the eastern part of the country, he couldn't remember exactly where. I asked him if it was Titles Unlimited but he hasn't got back to me yet on that question.

My question is why wouldn't you go through the state you live and built the car in? Seems kind of odd.

mrmustang · #17 (**permalink**) 08-10-2003, 09:01 AM

Let the buyer beware.............Ask for the full VIN, or better yet, have him fax you a copy of the current title then post the VIN here and we can go from there..........If you don't want to post it here in public, email it to me, and I'll decode to see if it is from another vehicle, or ???????

Bill S.

Lowell W · #18 (**permalink**) 08-10-2003, 10:16 AM

Bill S,

Yep, all that's true and one more thing: If you're driving a Cobra replica but have paid the premiums to the insurance company to insure a 1966 LTD, well heck, all the damage you caused to the other person's car, occupants, etc. is not covered by your insurance policy 'cause you weren't driving the LTD at the time. The loss of your car might well be the LEAST of your worries...

tz1238 · #19 (**permalink**) 08-10-2003, 02:59 PM

Thanks for all the input. You guys have been a wealth of information.
Now, what happens if the Cobra was titled the wrong way and the title says a 1965 LTD like was just mentioned in the previous thread.
How does the existing owner go about making this right.
Since many of these title companies were around for years, I'm sure there are quite a few guys stuck in this predicament.
Not only original owners, but 2nd or 3rd owners who didn't know what they were getting into.

mrmustang · #20 (**permalink**) 08-10-2003, 06:06 PM

In order to make it right, they need to go through their particular states DMV, re-title the car as a "reconstructed or kit car", and get a state issued VIN for it......Best left for someone else, as you do not know what can of worms you could be opening..............Once again, let the buyer beware...............

Bill S.