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

Registered: 06/02/13
Posts: 260
Loc: laird hill, texas
Has anyone ever traded a vehicle in on a new boat? Was wondering if any dealers do that?

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

Registered: 04/05/12
Posts: 2541
Loc: Copperas Cove, TX
Yes, they will as long as they can get someone from a dealership to bid on it
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#10906895 - 06/09/15 08:41 PM Re: boat trade in [Re: captain-kilroy]
captain-kilroy Offline
Angler

Registered: 06/02/13
Posts: 260
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

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

Registered: 05/23/13
Posts: 865
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.
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#10906920 - 06/09/15 08:51 PM Re: boat trade in [Re: captain-kilroy]
TOMCAT21 Offline
Pro Angler

Registered: 03/10/09
Posts: 681
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.

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

Registered: 06/02/13
Posts: 260
Loc: laird hill, texas
would the tax deal be the same if you traded in a boat and a vehicle on a boat?

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

Registered: 04/20/10
Posts: 18799
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.
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#10907303 - 06/09/15 11:01 PM Re: boat trade in [Re: captain-kilroy]
JoeFriday Offline
Pro Angler

Registered: 05/23/13
Posts: 865
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.
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#10907391 - 06/09/15 11:34 PM Re: boat trade in [Re: captain-kilroy]
captain-kilroy Offline
Angler

Registered: 06/02/13
Posts: 260
Loc: laird hill, texas
thanks for the input guys

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