Trading in a Boat??

[ikonxone]

i have a family member that currently owns a boat, but now that they are expecting a child they are selling the boat. they have offered it to me and to just take over payments. i was thinking as long as it is not in negative equity that i could take it off their hands and then trade it in for a tige. i am just curious if that seems like a logical idea or would a dealer probably not take anything except a tige? i am still awaiting the information and specs on his boat to see if it would be worth it.

[Original Wing Nut]

It's all about the money, what would the value be vs trade value and is there some tax advantages? In Utah you only pay sales tax on the difference, but in Nevada I don't know how your sales tax is structure with all that gambling tax etc...

[chpthril]

Take a look at what the difference between amount owed and market value is? Will it be worth trading or letting the dealer broker, because these amounts will be less than if you sold it your self.