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Message Subject: Buying used boat out of state...

Nick59

Posted 10/12/2009 4:56 PM (#404370)
Subject: Buying used boat out of state...

Posts: 548

Location: MN

I'm buying a 'used' boat out of state. Anything I need to watch out for while regestering in MN?

Thanks,
Nick

Edited by Nick59 10/12/2009 6:02 PM

WI_guy_turnedMudDuck

Posted 10/12/2009 6:01 PM (#404378 - in reply to #404370)
Subject: Re: Buying boat out of state...

Posts: 227

Location: Maple Grove

Private party or dealer? If you purchase from a dealer you more than likely won't pay sales tax until you register it in MN. This wasn't clear to me and an unforeseen expense when the DNR came knocking looking for their sales tax. I thought it would be collected when I registered the boat but the lady must have goofed. If you do pay sales tax in the state you bought it make sure you can prove it with a receipt or bill of sale. If it's a private party there is no sales tax I believe. Have a bill of sale that lists the trailer and boat separately. You need to register the trailer separately and will pay sales tax on that depending on the value of the trailer on the bill of sale. I believe the seller must sign the bill of sale as well. Then depending on the size of the trailer you'll either get a lifetime license or renewable plates. Not sure what the thresholds for each are though.

This was just my experience. I'd do some searching on the web to double check. Here's where I would start...
http://www.dnr.state.mn.us/licenses/watercraft/index.html
You can always call to get clarification too.

Joe Olstadt

Edited by WI_guy_turnedMudDuck 10/12/2009 6:09 PM

Muskie Treats

Posted 10/12/2009 8:51 PM (#404413 - in reply to #404370)
Subject: Re: Buying used boat out of state...

Posts: 2384

Location: On the X that marks the mucky spot

I second that.

One thing is that if you're buying from a private party you'll want to clear up the lean on the boat before you bring it home. I had some issues with a private party in Texas where that didn't get resolved for 6 months and it SUCKED!

Rock Bottom

Posted 10/15/2009 5:11 PM (#404968 - in reply to #404370)
Subject: Re: Buying used boat out of state...

Posts: 54

I don't know about MN but some states require the State police to come out and do a search on the unit to verify that is not stolen before you can register it.

Nick59

Posted 10/16/2009 10:19 AM (#405056 - in reply to #404370)
Subject: RE: Buying used boat out of state...

Posts: 548

Location: MN

I just checked with the MN DNR. Just need the boat title to register an out of state boat in MN. Registration and filling fees. Then I need to pay tax on the trailer to the MN DMV and also pay for a lifetime licence. So ... looks like I'll be good to go. Heading up this weekend to complete the deal..

Thanks for the info..
Nick

WI_guy_turnedMudDuck

Posted 10/16/2009 12:06 PM (#405075 - in reply to #404370)
Subject: Re: Buying used boat out of state...

Posts: 227

Location: Maple Grove

Yep, and when you register the trailer with the DMV make sure you have a document that spells out how much the trailer is worth, separate from the boat and motor. That is the amount you will be taxed on. So it's a private party sale then. Good luck and get her slimed soon!

Joe Olstadt

Nick59

Posted 10/16/2009 4:52 PM (#405130 - in reply to #405075)
Subject: Re: Buying used boat out of state...

Posts: 548

Location: MN

WI_guy_turnedMudDuck - 10/16/2009 12:06 PM

Yep, and when you register the trailer with the DMV make sure you have a document that spells out how much the trailer is worth, separate from the boat and motor. That is the amount you will be taxed on. So it's a private party sale then. Good luck and get her slimed soon!

Joe Olstadt

I printed out a NADA page that says the trailer is worth $350. This is a 2000 year rig. And as you would say... soon to be slimed

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