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Posts: 1316
Location: Madison, WI | What additional upfront costs can someone expect?
-Tax (If I purchase something in IL and live in WI, what tax rate do I use? WI or IL?)
-Insurance
-Registration/Stickers (Any idea how much this costs in WI?)
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Posts: 3242
Location: Racine, Wi | A private party boat eh? Does it have curtains? lol
I think you would pay Wisconsin taxes when you register it. Not sure what the actual registration cost is, but they add the taxes on when you transfer the title I believe.
As for the insurance, it won't be too much if you add it on to your home owner's policy expecially if you have your car inurance on it as well. But it depends on your insurance rates too. |
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Posts: 1663
Location: Kodiak, AK | I just bought a boat private party, and there were no taxes involved. I think they get you on taxes like Joel said, when you register it. I did my insurrance through USAA, which is actuall Progressive, and for full, unconditional coverage with a $250 deductable on a 20' Ranger, I'm paying $32 a month.
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Posts: 1316
Location: Madison, WI | After doing some poking around found out, yep, looks like taxes are paid at registration. I also pay WI sales tax even though the boat is from IL. Am I missing anything else that might bite me in the butt? I've found a boat that's in my price range and I'm drawing up a budget for it.
How much does registration in WI cost any ideas?
Edited by Magruter 7/31/2008 7:34 AM
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Posts: 706
Location: Richland Center, WI. | Scott, does this mean you are finally getting a boat? Good for you! Now you can show me your spots on the Mad Chain. Next time you are in Richland Center, stop next door at my office. We have all the paperwork you need with the fees listed. I am not at work right now (Yipee!) so I don't have the fee schedule in front of me. The registration fees are different depending on how long the boat is. Also remember to budget money for life jackets, anchors, fire extiguisher, spare tire, etc. I have my boat insurance through my homeowners insurance and it cost me around $100 a year to insure.Ken
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Posts: 1316
Location: Madison, WI | Thanks guys! |
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Posts: 280
Location: McFarland | You gonna pull it with your VW or you going to lease a slip from me :p |
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Posts: 1316
Location: Madison, WI | I've got something in the works with the upstairs neighbor, but i do like the slip option.  |
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Financing the purchase of a private party boat?