Quote:
Originally Posted by angleiron
So riddle me this Batman....
They sell the car on e-bay but are still responsible for the taxes....correct? So if the car sells for $95K they have to fork out around 40% in taxes on that? So if that percentage is correct then they walk away with somewhere around $58-60K. If they keep the car they just got a car that should hold its value for some time for about $37K in paying the taxes? Shit...I would just keep the car!
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You have to pay the taxes prior to picking the car up and the value used for the taxes is not what the winner sells the car for, but the pre-established retail value of the vehicle.