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Started By
Message
Buying a boat from an individual
Posted on 4/4/17 at 6:04 am
Posted on 4/4/17 at 6:04 am
Can someone walk me through the process other than just giving him money? How do I pay the taxes, get a registration and a license plate? Thanks.
ETA: what about insurance? How do you get the boat covered for the drive home?
ETA: what about insurance? How do you get the boat covered for the drive home?
This post was edited on 4/4/17 at 6:10 am
6
Posted on 4/4/17 at 6:14 am to Janky
Is the boat in state and already registered? If so,
Go to a title place they will handle the trailer title transfer, plate, and taxes. Mail bill of sale and registration info off to LDWF for transfer.
Go to a title place they will handle the trailer title transfer, plate, and taxes. Mail bill of sale and registration info off to LDWF for transfer.
This post was edited on 4/4/17 at 6:15 am
Posted on 4/4/17 at 6:19 am to TigerWise
Did we ever come to a conclusion on what taxes are due?
Posted on 4/4/17 at 6:21 am to Janky
I think that depends on where you live. I think I pay slightly less taxes due to being outside our city limits.
Posted on 4/4/17 at 6:32 am to Janky
You pay taxes on what is titled.
Trailer should be titled in LA otherwise you will catch hell getting a plate. Have the seller put the trailer on a separate bill of sale so you can pay tax on just the trailer amount.
When you go to LWFD you will pay a registration fee based on the length of the boat.
If its a newer boat/motor it may or may not have a title based on if it was financed or not.
Trailer should be titled in LA otherwise you will catch hell getting a plate. Have the seller put the trailer on a separate bill of sale so you can pay tax on just the trailer amount.
When you go to LWFD you will pay a registration fee based on the length of the boat.
If its a newer boat/motor it may or may not have a title based on if it was financed or not.
This post was edited on 4/4/17 at 6:32 am
Posted on 4/4/17 at 6:34 am to JusTrollin
The owner owns the boat outright and it is in LA. Are you saying I just pay taxes an the trailer and not the boat?
Posted on 4/4/17 at 6:42 am to Janky
When I bought my boat from an individual, I called Progressive from the title company and bought insurance for drive home. Have been very pleased with them for past 4 years. Had zero issues with claim after boat being flooded last year, very easy to work with and my rates didn't go up after a big claim.
Posted on 4/4/17 at 7:05 am to Janky
quote:
The owner owns the boat outright and it is in LA. Are you saying I just pay taxes an the trailer and not the boat?
Yes, that's how it was last October when I went through the process.
Posted on 4/4/17 at 7:13 am to Janky
quote:
Are you saying I just pay taxes an the trailer and not the boat?
Correct.
Save yourself time and the headache and take all your paperwork to a local Title business for the trailer registration.
Posted on 4/4/17 at 7:15 am to Janky
quote:
what about insurance? How do you get the boat covered for the drive home?
According to State Farm who handles my truck insurance, when Im pulling my boat its covered under that policy. Foremost only covers it once its in the water. Id call your auto provider and just double check that with them to be on the safe side.
This post was edited on 4/4/17 at 7:17 am
Posted on 4/4/17 at 7:20 am to 4WHLN
quote:
According to State Farm who handles my truck insurance, when Im pulling my boat its covered under that policy. Foremost only covers it once its in the water. Id call your auto provider and just double check that with them to be on the safe side.
I think your truck insurance is only liability on the boat and if it falls off the trailer or gets hit by someone with no insurance then your boat insurance will pay.
As for the question as others have said you only pay taxes on the $100 trailer. The less you list on the trailer the less you have to pay taxes on.
Posted on 4/4/17 at 7:36 am to Barneyrb
That's good news. The seller wants cash. I assume that is ok as long as he signs over the title to me and a bill of sale, correct?
Posted on 4/4/17 at 7:40 am to Janky
Sign the title over to you, you will need 2 notarized bill of sales. One for the trailer that you will go to the DMV with and one for the boat along with the boat registration. The boat you will send a copy along with your money to the DWLF to have it changed into your name, no tax money on the boat.
Posted on 4/4/17 at 7:42 am to Barneyrb
Ok, are there private title companies that handle boats?
Posted on 4/4/17 at 7:42 am to Janky
You need a notarize bill of sale for louisiana wildlife and fishery.
Posted on 4/4/17 at 7:47 am to hogdaddy
Will the notary provide that bill of sale? I have found a blank bill of sale for the boat but I cannot find on for just a trailer. I can find one that combines boat, motor and trailer but someone you want them separate.
Posted on 4/4/17 at 7:53 am to Janky
No, you fill out the bill of sale and have it notarize at the title place. then go online and fill out the boat Application
Bill of Sale
Application
Bill of Sale
Application
Posted on 4/4/17 at 7:54 am to Janky
I've bought and sold. When I bought, the bank held the title, so there was some confusion about that. I think all you really need is to sign over the registration. The title place can answer that question.
When I sold, I held the title and all we had to do was ride down to the title place and let them handle everything.
I had insurance through my home/car insurance company set up when I purchased.
When I sold, I held the title and all we had to do was ride down to the title place and let them handle everything.
I had insurance through my home/car insurance company set up when I purchased.
Posted on 4/4/17 at 8:01 am to Barneyrb
Thank you to everyone.
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