Selling a boat with a Lien on it in AZ

[Bowtiepower00]

Would like to list my boat (‘18 Tahoe 700 less than 20 hours) I have a loan on the boat, and am Willing to pay the difference, but how do I go about this? I know boat titles are a bit different from car titles. I figure I’ll list boat around 37.5k, I owe a bit more. I’ll gladly pay the difference, boat is cherry. Looking at consignment options but not sure on what they want to list at. What are the opinions from the inmates?

 

[SKIDMARC]

I would think you and the buyer would go to the bank for the transaction. You both pay your portion he gets the title. Or he gets a loan from them. They do the transfer.

 

[SKIDMARC]

Would like to list my boat (‘18 Tahoe 700 less than 20 hours) I have a loan on the boat, and am Willing to pay the difference, but how do I go about this? I know boat titles are a bit different from car titles. I figure I’ll list boat around 37.5k, I owe a bit more. I’ll gladly pay the difference, boat is cherry. Looking at consignment options but not sure on what they want to list at. What are the opinions from the inmates?

Also how about a some pictures. I got a 2006 20.5 ft Tahoe Q6. Curious what yours looks like.

 

[LuauLounge]

Call your lender, if local, stop by and see what their process is. It will make it easier when you’ve got someone interested. Your lender may allow your loan to be assumed by the new buyer, which could be a selling point. I’ve bought boats that have had a loan on them and made the check payable to the lender AND the seller. Did a short contract specifying all the details. Never had an issue, but there was nothing that made me believe that there would be an issue.

 

[Bowtiepower00]

I’ll have pics tomorrow. It’s a great boat. I gave the old lady an ultimatum. Learn how to drive the boat or back the trailer or I’m selling it. She said sell it. So here we are, lol.

 

[ka0tyk]

I’ll have pics tomorrow. It’s a great boat. I gave the old lady an ultimatum. Learn how to drive the boat or back the trailer or I’m selling it. She said sell it. So here we are, lol.

well that backfired on you... now you’re gonna be boatless.

 

[Bowtiepower00]

Here we are. I mostly fish. I’ll get a fishing boat I can launch by myself and not care about dock rash. Same as our RV experience, if she doesn’t want to help
I’m out. I’d rather fish from a 16’ fishing boat than argue with the misses on a bigger boat, lol.

 

[Bowtiepower00]

I’ll own a bigger boat soon, my son is 8. About a age I learned to drive a boat. Once he’s old enough (10-12) to drive a boat I’ll move up to my dream boat, 24-27 Lavey, until then I don’t really care lol. Old lady doesn’t exactly understand my boat addiction but she can be a participant, lol. She just wants to sunbathe on the swim pad, lol

 

[Blackmagic94]

There is no title on a boat in Az

 

[Bowtiepower00]

There is no title on a boat in Az

I get it, and that’s what’s scares me.
Just want to make sure everything is legit.
If it were a title state, wouldn’t bother me
At all.

 

[hawgty55]

The power is yours per say. The one that has to be worried would be the purchaser. He takes the risk that you do your end in a sufficient manner and gets the money transfered and lien released.

Just did mine i called the bank they gave me a couple things that i needed to send in or do to release titles straigt to purchaser.

 

[C-2]

In AZ, lenders secure their collateral by a UCC-1 filed with the AZ Secretary of State - I'm not sure if they record them at the county level, too. After you pay the lender, they will file a release to the UCC filing. A purchaser, or their agent, will check to see if the UCC filing is released. Or, at least they should

One of the reasons why they use a UCC filing, instead of a traditional paper title, is to reduce the opportunity of fraud. Everything is performed electronically; there is no opportunity to monkey with paper titles. I suppose fraud could be perpetrated, but it would take a significant effort and would leave a nice paper trail.

 

[Spudsbud]

Id talk to your Lender in advance of any transaction. Keep them imformed at every step.
Protecting your long term credibility.