Main Menu
Advertisement
Affiliates
Advertisement
Newest Members
abowhunter123, txdude350, TwoSpeedTony, Kurt L, woodtick84
103559 Registered Users
Top Posters
TexDawg 84017
hopalong 75502
Pilothawk 74024
JDavis7873® 67380
John175 ® 61835
FattyMcButterpants 60638
Tritonman 57282
Derek 57021
SkeeterRonnie 52609
LoneStarSon® 52537
facebook
Forum Stats
103559 Members
61 Forums
869250 Topics
11405903 Posts

Max Online: 36273 @ 01/23/13 02:34 PM
Topic Options
#10906752 - 06/09/15 07:50 PM boat trade in
captain-kilroy Offline
Outdoorsman

Registered: 06/02/13
Posts: 230
Loc: laird hill, texas
Has anyone ever traded a vehicle in on a new boat? Was wondering if any dealers do that?

Top
#10906802 - 06/09/15 08:03 PM Re: boat trade in [Re: captain-kilroy]
03svtsnakevert Offline
Extreme Angler

Registered: 04/05/12
Posts: 2482
Loc: Copperas Cove, TX
Yes, they will as long as they can get someone from a dealership to bid on it

Top
#10906895 - 06/09/15 08:41 PM Re: boat trade in [Re: captain-kilroy]
captain-kilroy Offline
Outdoorsman

Registered: 06/02/13
Posts: 230
Loc: laird hill, texas
I have a nice extra vehicle and was wanting to trade it and my current boat in. Just didn't know how crazy it sounded

Top
#10906914 - 06/09/15 08:48 PM Re: boat trade in [Re: captain-kilroy]
JoeFriday Online   content
Pro Angler

Registered: 05/23/13
Posts: 758
Loc: Flower Mound, TX
One thing to be aware of is that you will pay sales tax on the full purchase price of the boat if you trade in anything other than an other boat. I went around and around on a non boat trade with TPWD and even talked to someone in the State Comptroller's office. My view was I was being double taxed, but the state did not share the same view. TPWD gets to make their own rules.
_________________________
This space for rent

Top
#10906920 - 06/09/15 08:51 PM Re: boat trade in [Re: captain-kilroy]
TOMCAT21 Offline
Pro Angler

Registered: 03/10/09
Posts: 624
Loc: Keller, TX
Take it to Car Max first to get a price check on the vehicle. Sold two vehicles there and it was relatively painless.

Top
#10907040 - 06/09/15 09:34 PM Re: boat trade in [Re: captain-kilroy]
captain-kilroy Offline
Outdoorsman

Registered: 06/02/13
Posts: 230
Loc: laird hill, texas
would the tax deal be the same if you traded in a boat and a vehicle on a boat?

Top
#10907079 - 06/09/15 09:44 PM Re: boat trade in [Re: captain-kilroy]
patriot07 Online   content
TFF Guru

Registered: 04/20/10
Posts: 17452
Loc: chateau d'if
I believe you lose the tax savings that makes trading normally advantageous, like JoeFriday said. You'd be much better off selling it yourself.
_________________________
Life can only be understood backwards; but it must be lived forwards.
- Soren Kierkegaard

Top
#10907303 - 06/09/15 11:01 PM Re: boat trade in [Re: captain-kilroy]
JoeFriday Online   content
Pro Angler

Registered: 05/23/13
Posts: 758
Loc: Flower Mound, TX
Originally Posted By: captain-kilroy
would the tax deal be the same if you traded in a boat and a vehicle on a boat?


Yes. You would only get credit for the boat portion of the trade. If you look at the TPWD forms, there is trade responses only reflect it being a boat in trade. It's not an oversight. As mentioned, TPWD makes their own rules. They don't want to recognize anything other than another boat reducing the taxes paid. I learned the lesson the hard way.

I traded a motorcycle for a boat with an individual. Sent the paperwork in as an even trade thinking all was well only to learn what I have shared here. Both were titled assets and had to have tax paid when they were purchased. Even though it was an even trade and no money exchanged hands, TPWD said tough, pay the sales tax. Lesson learned.
_________________________
This space for rent

Top
#10907391 - 06/09/15 11:34 PM Re: boat trade in [Re: captain-kilroy]
captain-kilroy Offline
Outdoorsman

Registered: 06/02/13
Posts: 230
Loc: laird hill, texas
thanks for the input guys

Top



© 1998-2016 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide