How would the State of Texas assess the value for a '55 Chevy when you do the bonded title process in Texas? Is it off of the Bill of Sales, Presumptive Value, or some other amount? Any other tips for making the process easy? The title was lost decades ago and the car has been in storage. I know the total history of the car, so there are no issues.
Texas went to the presumptive value last year. It sucks. if it hasn’t been titled in Texas you’ll need a vin verification by law enforcement. also google Vermont loophole.
I used these guys to get a bonded title back in 2014. They are in Round Rock, TX. You don't need to go to them to use them. They'll tell you what to do. https://www.lawrenceautotitle.com/ And as Dustin posted, I did have to have a VIN verification. If you're in a small town they might come to you and do it. But if you live in DFW like my I had to haul it up to the police impound lot on a certain day at a certain time and they inspected the numbers on the frame. It was just a roller at that time.
Thanks for the great info. Standard Presumptive Value? (SPV) What if it is a total project car that needs floor replacement, etc? Are they going to try to value it with Barrett Jackson numbers or something crazy like that? Update: https://comptroller.texas.gov/taxes/motor-vehicle/private-party-spv.php SPV applies to motor vehicles purchased in private-party sales that do not involve a licensed motor vehicle dealer. This includes sales between family members, neighbors and others. The SPV calculation does not apply to any of the following: vehicles sold by dealers salvage vehicles abandoned vehicles vehicles sold through storage or mechanic's liens vehicles eligible for classic car and classic truck license plates vehicles transferred in even trades vehicles transferred via eligible gift vehicles sold by Texas governmental entities or the United States A used vehicle's SPV is available on the TxDMV website; however, the county tax assessor-collector calculates the taxable value on the day of titling and registration. Tax is calculated on the greater of the actual sales price or 80 percent of the SPV shown for that day.
About 5 years ago I did a Texas bonded title and the lowest assumed value was 4,000.00. Total cost to me was about 200.00. All the process was via my auto insurance agent. Remember, this was 5 years ago.
They may have changed the law some. 3 months ago they was trying to charge me taxes on 48,000 for something I paid 1500 for. They didn’t seem to care or want to here anything. im almost positive that the classic vehicle wasn’t on their list. They may have added that.
Doesn't it depend on your county? I had to take it to a police station and have them confirm the VIN then go to the Travis County tax office to finish the deal.. relatively easy..
It doesn’t matter on the county that does the vin verification. BUT it does mater on registration. County specific.
So, Ive done it, it is alot of foot work. I suggest doing a title service honestly. The presumptive value junk is exempt on classics last time I did it. The service I used before was a lady out of beaumont. 400 bucks but was done quick, and I didnt have to dick with the harris county courthouse...
It's a pretty straight process in Texas the only issue being the value the state puts on it at the time you have it inspected. 4000 minimum value for anything over 25 years old. Bought a Vehicle Without a Title? | TxDMV.gov According to this you need a frame , a body and an engine. Plus bills of sale or receipts for each. To me that means that the moment you have the engine and trans mounts welded up, your dummy engine and trans in place (or your final one) and he body bolted to the frame for the stand back and look moment you get it inspected. From that point for most of us by the time the bond ages out and we can get a clear title the rig is almost done anyhow. What you don't do is wait until you have it all finished, painted and upholstered and are ready to drive it and then start the process. . That is when the 40 something K bond comes into play. When I lived in Texas in the 70's I figured out that if you had a real question you went to the state DMV office in your area rather than the courthouse.
The frame number etc crap is a wish list... If you have a vin plate on the cab, that's all most inspector's look at. Green form from a inspection place is all that's required, not a DPS inspection.
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