As you may have noticed, the motor vehicle values have increased. According to information received from the State of CT, used car values have increased approximately 29.7% due to the Covid-19 Pandemic. For further information, please refer to the links provided below:
https://www.caranddriver.com/news/a35716231/car-dealers-profitable-2020-sales-down/?utm_campaign=socialflowFBCD&utm_source=facebook&utm_medium=social-media&src=socialflowFBCAD
https://www.marketwatch.com/story/this-is-exactly-how-much-car-prices-have-gone-up-2020-09-21#:~:text=The%20valuation%20analysts%20at%20Kelley,%25)%20from%20the%20previous%20month.
https://www.nytimes.com/2020/09/07/business/used-cars-pandemic.html
https://www.wsj.com/articles/car-sales-are-down-almost-20-but-prices-are-setting-records-11599219000
https://www.cnbc.com/2020/12/29/how-to-find-a-good-end-of-year-deal-if-in-the-market-for-a-new-car.html
https://www.npr.org/2020/10/28/927971920/a-pandemic-sticker-shock-used-car-prices-are-through-the-roof
The Department of Motor Vehicles does not notify the Assessor's Office of any cancellation or change of status on the subject registration(s). If the registration (PLATE) on this vehicle was transferred to another vehicle the current bill is not adjustable, and the payment is due in full. Receipt in January of a "Supplemental Bill" will apply all credits and adjustments due between the "old" vehicle and the "new" vehicle. If the subject registration (PLATE) was not transferred, but was either: sold, totaled, repossessed, or registered in another state, then our auditors shall require sufficient proof.
Acceptable proof shall consist of one of the following:
1. Plate Receipt from DMV;
2. Copy of the bill of sale;
3. Out of State registration - Showing the date the vehicle was registered outside the State of Connecticut;
4. Letter from charitable organization - Showing vehicle information and date the vehicle was donated;
5. Stolen or totaled - A statement from the insurance company indicating that the vehicle was not recovered.
6. Trade in vehicle (with new plates) - A copy of the purchase agreement identifying the trade in vehicle.
7. Junked vehicle - A receipt from the junkyard acquiring the vehicle.
8. Letter from the insurance company - Stating the vehicle information, the reason for the change, vehicle disposition, and pertinent dates.
