Subject: Re: [Fot] TR3 Prices

From: "RACER BUD" <[email-masked]>
Date: Wed, 6 Nov 2013 07:07:24 -0800

California exempts family transfers from taxes and most fees
RB

-----Original Message-----
From: [email-masked] [mailto:[email-masked]] On
Behalf Of John Frymark
Sent: Wednesday, November 06, 2013 6:37 AM
To: [email-masked]
Cc: [email-masked]
Subject: [Fot] TR3 Prices

Whatever the agreement is, have your friends look into their state 's
taxation rules on the change of ownership. Lots of states charge an excise
tax and valuation of an "old car" can tricky. And many states exempt
transfers within the family. Better to know before standing at the DMV
window.

John Frymark
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From: John Frymark <[email-masked]>
Date: Wed, 6 Nov 2013 09:16:02 -0600

Yes and California includes "grandparent" as family. Some states do not. 
And taxes are sales tax, not excise, so paid by the buyer.

On Nov 6, 2013, at 9:07 AM, "RACER BUD" <[email-masked]> wrote:

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From: Duncan Charlton <[email-masked]>
Date: Wed, 6 Nov 2013 10:55:57 -0600

Consider that if the grandson is invested financially he is likely to be much
more motivated to maintain the thing.  Free cars, or nearly free cars, seem to
get neglected much more easily.

Duncan

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From: "J. Wagner" <[email-masked]>
Date: Wed, 6 Nov 2013 11:36:15 -0800

I second Duncan's view.  I'm thinking of a story that has a slight Triumph
twist...

In the late 80's I lived in Florida.  One Christmas, I drove my TR7 back to
my hometown in California for a two week vacation.  I spotted my old 10 speed
bike from middle school in my parent's garage and decided to restore it as a
Christmas present for my then best friend back in Florida.  It needed a lot of
work.  I stripped if to the metal and gave it a fresh paint job, new wheels,
new tires, new chain, new brake cables, new handlebar wraps.  Imagine the
hours of my "vacation" that I spent knocking myself out on that restoration!
I realized that I could buy a pretty decent new bike for a little more than I
was spending on parts, but I was determined.  My friend didn't have
transportation and in the relatively small city I was living in, a bicycle
could suffice as transportation for work.  And that friend really needed a leg
up.

When it was done, I now turned my focus on how to get the bike back to Florida
with my TR7.  I purchased a bike carrier that attached to the back of the car.
I don't recall the price, but it was a lot on my budget, but I convinced
myself that the investment was worthwhile as I could use the rig in Florida to
transport my own bike (and perhaps my friend's "new" bike) for local bike
riding jaunts.

The rack seemed practical, but on a 3000 mile trip it turned out to be a
constant nuisance.  I constantly had to pull over a tighten straps, tie off
spinning parts, etc. It really was a pain and I was constantly concerned about
what damage might come to my TR's paint job!  Nevertheless, I couldn't wait to
give the bike to my friend.  He was far away from family and I knew his
Christmas had been just another day for him.  When I drove up his apartment
building I managed to get the bike off the rack just in time to present it to
him as he came out to the street.  He was floored!  He jumped on the bike like
a giddy child jumping on his first tricycle!  The tune "Raindrops keep falling
on my head" came to mind as he rode up and down the street, grinning ear to
ear!

Push forward ONE week.  I visited my friend and spotted the bike.  Both wheels
were bent (clearly from treating a 10 speed street bike like a mountain bike),
the new strapping on the handlebars was frayed, and the bike looked like crap.
Two weeks later, he couldn't even tell me where the bike even was.  I never
saw the bike again.

If that gift had any chance of giving him that leg up that he needed, I should
have brought the bike back as I found it in my parent's garage and helped him
to restore it.  It might have been the experience he needed to build the work
ethic that my parents had instilled in me.  I threw money his way one last
time months later, by "selling" him a $500 beat up old mustang with no money
down, but I never saw a cent and he trashed the car somewhere in central
Florida near Lake Okeechobee.   I knew he'd never make a payment, but I fell
for the puppy eyes and his story.  Once again, I could have created a learning
experience for him, but it was easier to write off the car all at once then to
put him to work to earn the car before giving him the keys, or to simply say
no, reminding him of his irresponsibility with the bike I had given him.

"Free cars, or nearly free cars, (or bicycles!) seem to get neglected much
more easily."

The passing of an old TR can be a great teachable moment, think it through!

--Justin

> On Nov 6, 2013, at 8:55 AM, Duncan Charlton <[email-masked]>
> get neglected much more easily.
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