Gas Guzzler Tax

[qburge]

Would someone please explain how the Gas Guzzler Tax works! Do
you pay it just one time when you buy a Viper, or everytime you
renew your tags? Does it go by actual mileage the car gets or by
horsepower? If you sell your car does the next guy have to pay it
again? I saw some article about the new Corvette with a guy explaining
the reason they don't have 500 hp is to bypass this tax.

 

[JKNUST]

From my understanding... only the first person to title the car pays this tax ($3K on the Viper). I bought a used Viper (2003 SRT) and did not have to pay it.

If you like reading IRS documents:
http://www.irs.gov/pub/irs-pdf/f6197.pdf

 

[ViperJoe]

HP does NOT factor in (although it COULD IF the engine is a gas GUZZLER)

The C6 Z-06 Corvette is rumored to have 480-500hp and they will avoid the GGT and get 20+mpg

It is only paid one time at the time of first retail sale. After that it's done. The money goes to Uncle Sam. Kinda of like that luxury tax!

 

[Chuck 98 RT/10]

It may only be paid one time but you're fooling yourself if you think the cost isn't passed in the resale price, just like the luxury tax was. That $3000 GGT was listed as "optional equipment" on the window sticker and the Lux Tax ($3,500 in 98) was figured into the bottom line. That's $7,500 that was passed onto the second owner.

I wouldn't hold my breath on a 500hp Vette.

 

[ViperJoe]

I wouldn't hold my breath on a 500hp Vette.

I am SOOOOOOOO glad to hear that!

ROTFLOL!!!