On Saturday, July 9th, I received my annual California vehicle registration notice for $111.
I am not sure what other states charge for an annual license and registration fee, but $111 seems a bit high. It is certainly a healthy deterrent against middle-income families owning more than one car in the state.
But I digress…
My problem with my registration fee is not the cost (though I still think it is high), but the payment deadline.
I received a bill from the state of California on a Saturday that is due this coming Tuesday. Of course, I cannot mail anything on Sunday.
In essence, if I had been on vacation for a short four-day weekend, I would surely have missed my deadline and had to pay a penalty.
If a credit card company charged someone 2,521% annualized interest for a bill that was three days late, politicians would be up in arms.
That is not a typo. I repeat, 2,521% annualized interest.
Yet in California, it is par for the course.