TEXAS FOLK: Taxes and refinancing question

[EL CapiTRAN]

So already funded and received my car, but in Texas I have to go register and pay the taxes at the Tax Office and get my reg sticker and plates. I had a trade in so I only have to pay the taxes on the sale price minus the trade in amount. What happens if anything, if you try to refinance at a lower rate before you even had a chance to register and pay the tax? Is there a chance the refi might cause you to taxes on the full sale price of the car? I've heard of CUs saying to wait until after your register your car or your first car payment before refinancing.

 

[meanda3]

I don't know about it taxing the total amount of the car but I would advise paying the taxes and making the first. Are you refinancing with the same institution of a different one?

 

[EL CapiTRAN]

I don't know about it taxing the total amount of the car but I would advise paying the taxes and making the first. Are you refinancing with the same institution of a different one?

A different one. The one I initially got the loan with had a rate of 3.15. I traded in the LR for the P. I figured all the paperwork that Tesla is sending to me to take to the tax office will have the sales price minus trade in already on the sheet so they know only to charge me that much for the tax. The refinance with Everence shouldn't interfere with that paperwork right? I just have to go back again to have them transfer the title to the new lienholder which would be Everence. That's my thoughts but I'm not experienced in this so that's why I'm reaching out. Hopefully someone will have some insight.

 

[meanda3]

The tax office will look at all the paperwork and only charge you the applicable taxes. Where you may run into problems is the paperwork for the new lienholder being made right That is why I recommended waiting, especially if you are still in the 30 day window. There are a lot of moving parts with the bank/state etc. and it would suck for the title to be held up somewhere the new bank couldn't get it.