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Financed Purchase bill of sale — Lubbock, Texas

Financed Purchase Payment Bill of Sale for Horse Trailer in Lubbock, TX

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for th… Complete your Lubbock horse trailer financed purchase transaction at the Lubbock County Tax Office.

LubbockTexasHorse TrailerFinanced Purchase

Financed Purchase Horse Trailer Sale in Lubbock

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for the buyer to purchase the vehicle. The lender holds a security interest (lien) in the vehicle until the loan is fully repaid.

In Lubbock, Texas, the local office handling title transfers is the Lubbock County Tax Office at 916 Main St, Suite 1207, Lubbock, TX 79401. The combined sales tax rate is 8.25%. Notarization is not required for a private vehicle bill of sale in this jurisdiction.

Payment documentation requirements

When a bank or credit union finances the purchase, they typically pay the seller directly and the buyer repays the lender in installments. If the seller is providing financing (seller carry-back), a separate promissory note should document the loan terms, interest rate, payment schedule, and default provisions in addition to the bill of sale.

How financed purchase affects title transfer

In financed transactions, the title is issued with the lender's name noted as lienholder. The buyer receives a copy of the title but the lender typically holds the original until the loan is paid off. Once the loan is satisfied, the lender releases the lien and the buyer receives a clean title.

Local DMV — Lubbock County

DMV / Title Office

Lubbock County Tax Office

Address

916 Main St, Suite 1207, Lubbock, TX 79401

Phone

(806) 775-1340

Office Hours

Mon–Fri 8:00 AM–4:30 PM

Local Fees & Taxes

Title Transfer Fee

$28.00

Sales Tax Rate

8.25%

Base Registration Fee

$51.75

Texas state rate 6.25% + Lubbock County/City local rate 2.00%

Notarization: NOT REQUIRED

Texas does not require notarization for private vehicle sales.

Lubbock Financed Purchase Transfer Checklist

  • Federal Truth in Lending Act (TILA/Regulation Z) applies to all financed transactions.
  • Texas Finance Code Chapter 348 (Motor Vehicle Installment Sales) governs dealer-financed and lender-financed vehicle sales.
  • The retail installment contract must disclose the cash price, down payment, finance charge, APR, and total of payments.
  • Texas caps the maximum time-price differential (finance charge rate) for motor vehicle installment sales.
  • Lienholders must be recorded on the Texas title — Form 130-U must list the lienholder name and address.
  • Complete Form 130-U at the Lubbock County Tax Office
  • Title transfer within 30 days
  • Texas safety inspection required
  • Seller must sign title assignment

Texas forms and documents

  • Form 130-U (Application for Texas Title)
  • Retail Installment Contract (Chapter 348-compliant)
  • TILA Disclosure Statement

Key facts for financed purchase transactions

  • Lienholder's name appears on title until loan is fully repaid
  • Seller financing requires a promissory note in addition to the bill of sale
  • Truth in Lending Act (TILA) disclosures required for seller financing
  • Existing liens on the vehicle must be cleared before title transfers
  • State usury laws cap the maximum interest rate in seller-financed deals

Important notice

If the vehicle still has an existing lien from the seller's own loan, that lien must be paid off and released before clear title can be transferred to the buyer. Never complete a financed purchase without confirming the title is free of prior liens.

Lubbock at a glance

Population

261,078

Median Household Income

$60,487

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Frequently asked questions

How does a financed purchase horse trailer sale work in Lubbock?

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for the buyer to purchase the vehicle. The lender holds a security interest (lien) in the vehicle until the loan is fully repaid. Title transfers in Lubbock are handled at the Lubbock County Tax Office (916 Main St, Suite 1207, Lubbock, TX 79401). When a bank or credit union finances the purchase, they typically pay the seller directly and the buyer repays the lender in installments. If the seller is providing financing (seller carry-back), a separate promissory note should document the loan terms, interest rate, payment schedule, and default provisions in addition to the bill of sale.

What is the sales tax on a financed purchase horse trailer purchase in Lubbock?

The combined sales tax rate in Lubbock is 8.25%. Texas state rate 6.25% + Lubbock County/City local rate 2.00%

How does financed purchase affect the title transfer process in Lubbock?

In financed transactions, the title is issued with the lender's name noted as lienholder. The buyer receives a copy of the title but the lender typically holds the original until the loan is paid off. Once the loan is satisfied, the lender releases the lien and the buyer receives a clean title. Bring the signed title and completed bill of sale to the Lubbock County Tax Office (916 Main St, Suite 1207, Lubbock, TX 79401) with payment for the $28.00 title transfer fee.

Is notarization required for a financed purchase horse trailer bill of sale in Lubbock?

No. Texas does not require notarization for private vehicle sales.

What are the legal requirements for a financed purchase horse trailer sale in Texas?

Seller-provided financing is subject to the Truth in Lending Act (TILA, Regulation Z), which requires disclosure of the Annual Percentage Rate (APR), total finance charge, amount financed, and total payments. State usury laws may limit the maximum interest rate a private seller can charge. Dealer-provided financing is regulated at the state level and may involve additional disclosure requirements. Federal Truth in Lending Act (TILA/Regulation Z) applies to all financed transactions.

Is a financed purchase bill of sale legally binding in Lubbock?

Yes. A properly completed bill of sale with financed purchase payment terms is legally binding in Texas. Both buyer and seller should sign and retain a copy. Bring it to the Lubbock County Tax Office to complete the title transfer.

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