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Dec 30th, 2023
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 Financing and registration
#14110940
08/27/21 10:57 PM
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Joined: Nov 2009
Posts: 302
LUguy08
OP
Angler
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OP
Angler
Joined: Nov 2009
Posts: 302 |
If I'm buying from a private seller through a lender how does registration and taxes work? Would that go through the lender since they will have the title until paid off?
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Re: Financing and registration
[Re: LUguy08]
#14113785
08/30/21 06:56 PM
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Joined: Aug 2012
Posts: 117
MuglyFish
Outdoorsman
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Outdoorsman
Joined: Aug 2012
Posts: 117 |
Taxes can be calculated and added to the asking price of the boat through the lender. Registration would be on you, but the titles would be in your name with the lender a lien holder, so getting it registered shouldn't be an issue. That the way I would "assume" it would work being from a private seller.
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Re: Financing and registration
[Re: MuglyFish]
#14113873
08/30/21 07:53 PM
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Joined: Apr 2017
Posts: 12,919
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 12,919 |
Taxes can be calculated and added to the asking price of the boat through the lender. Registration would be on you, but the titles would be in your name with the lender a lien holder, so getting it registered shouldn't be an issue. That the way I would "assume" it would work being from a private seller. With a private sale a lender is not going to pay the tax man for you. You'll have to pay TPWD sales tax when you register and file for a title transfer on the boat and motor, bring your loan documents for lean holder on the title. For the trailer you'll have to write a separate check to DMV but pretty much the same process.
Last edited by tmd11111; 09/01/21 01:42 AM.
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