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marketability of a Cobra replica registered as a "replica"?
After my previous post on NC's new replica car registration legislation, it occurred to me that while registering/titling a Cobra replica as a "replica" in NC might be a good thing here, it might not be so good elsewhere, assuming one decides at some future point to sell his/her Cobra to someone else in another state. :confused: and read my subsequent post below before laying into me about lying to a prospective buyer- this is about difficulties in getting annual emissions inspections (or NOT hopefully)
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I've never had problems either buying or selling my cobra replicas regardless of how they are titled.
Bill S. |
If it is not a 1960s AC/Shelby built car, it IS a replica! Are you saying a Cobra "replica" is worth less because the title SAYS "replica"????
Just like those who go to lengths to register their cars as "1965" when it was built this year??? |
Your Cobra is as origional as you.... Register it? Do you plan on selling your Cobra as an origional and lying to a potential customer? I only hope that this person is understands that origional cobras need to have components that were made in the early 60's and the body should not made of fiberglass or ester resins. Otherwise, good luck. P.T. Barnam says there is a sucker born every minute.
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Would the guy who will pay more money for a replica because its titled as a 1965 Cobra versus one titled as a 2011 replica please stand up?
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Don't misunderstand my question here. I am a Cobra neophyte, regarding this topic in particular. I wasn't thinking about actual dollar value at all. My question is specifically relative to the appeal to a prospective out of state buyer considering the difficulties that used to prevail here in getting waivers for annual emissions inspections. I think in NC it's only required in the two most populated counties. I am told by a local builder/dealer that it was an annual nightmare for replica owners to get necessary waivers until the 2009 NC legislation was passed.
Knowing that many are sold across state lines, and it appears that many are registered as the year that they replicate, I just wondered what would be the ideal way to have it registered (as if I have a choice in NC) |
Quote:
Bill S. |
Thank you Bill.
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Except for a very few, anyone buying a replica Cobra knows what's going on, regardless of what the title says. As do the various State Department of Motor Vehicles!! If they don't "get it" at first they certainly will in time. "In time" that meant that some California vehicles had their titles pulled, some owners were charged with fraud, some went to jail, some had the car black listed and it could NEVER be registered in California ever again. It's pretty serious in some cases to misrepresent the car. To me any car titled and registered as a "1965" makes it worth LESS than if it was titled straight up for what it is, a replica. The reason is because of the potential hassle of sorting out that problematic 1965 date. Who you foolin'? Nobody it turns out...
States vary on the description, Specialty Built Vehicle, Reconstructed vehicle, Street Rod and other terms to describe reality. Haven't seen anybody use "Fakey doo",,,, yet, but that would be fitting. :) No impact on re-sale would be my opinion. |
All and any type of kit cars in CT are registered per CT law as: Composite. Last year a Model Year registration change was included, a Cobra can be registered as either 1965 or 1966 for the model year, i.e., year the body most closely resembles, make remains as a Composite
As of 2008, there were approx 315 kit cars of all types registered in CT as Composite. |
Gentlemen- Thanks for your answers. Now that I know HOW to register a replica vehicle here, I just need to figure out how to best acquire one.
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I thing its a bonus to have a car titled as a "Replica"....
SEMA has worked with most states that have had problems in the past with people buying titles or useing titles from wrecked cars to register a car as a 65 just to beat the tax/smog thing like they used to do in Cali....the SB-100 is actually a good thing it puts everybody with a "KIT CAR" in one catagory and the smog exempt for as long as you own that car is an even bigger bonus.... if you try to cheat the system they will eventually catch up to you and ask yourself this......is it really worth jail time ???? not for me it isnt........ play by the rules and you dont get penalties... |
Rusty Bob- Agreed, and whole heartedly. I tend to be a "boyscout" about these sorts of things as a general rule. I own a small business and can't afford to get too crossed up with the local authorities. ;)
It just seems like so many replica's are registered in so many ways and I wasn't sure what all the alternatives might be, and the relative merit of each. Now I know. |
elmariachi
I would have and proly should have. My SPF is titled as 2005 and i paid 6% transfer tax, plus will have property tax each year. this is in KY Titled as a 65 they don't even ask the cost, just small fee for antique plates and you don't need to buy more for several years. |
Marvin, in CT the 6% sales tax is based upon the selling price indicated on the Bill of Sale, model year does not determine the sales tax. The tax assessors in each town use the same source to determine the non-production kit car value for property tax purposes, using the model year etc.
With CT now having model year registration , Composite qualifies for Historical plates, but it's a 2 step process, must first obtain regular plates, then apply and pay for Historical, i.e. revenue generator. |
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